Do I Need A Home Warranty? | Boise Home Warranty and Insurance Basics

Do I need a Home Warranty?

Buying a home warranty can put your mind at ease, but some people may ask, “Is it worth the money?” Like insurance, it seems you only need a warranty when you don’t have one.

Home warranty companies commonly tout the fact that a major system or appliance (such as heating, air conditioning, electricity, plumbing, etc.) is 60% likely to fail in the next year. BoiseHomeIQ is wary about passing this on as fact since we are unable to find the actual research supporting this statistic and it certainly depends on the home you buy. If you are living in a 100 year old home with no updated systems or appliances, the chances of a failure are probably much more than 60%. If you are moving into a new home, the chances should be significantly lower, but not impossible.

A person should weigh the state of their home with their own ability to take care of unexpected problems. Someone who feels anxiety at the thought of taking care of repairs or hiring them out is more likely to need a home warranty than a seasoned handyman.

A home warranty plan should include the following:

Coverage of repair or replacement of major appliances and systems
Some home warranty companies will arrange repair and replacement of an appliance or system for you. This can save you the time of calling professionals, getting references and quotes.
Other companies will allow you to arrange the service and then reimburse you . This can be a little more legwork for you as you’ll need to be in contact with the home warranty company to make sure they will pay the company you hire or reimburse you, but for some homeowners, they appreciate the control they have in the process.
Be aware: If there is evidence that an appliance is not maintained properly, many home warranty plans will not cover replacement or repair. See our home maintenance checklist.

Click here for an Idaho Home Warranty Directory.