A typical home warranty is a one-year contract that protects a homebuyer or current homeowner against the cost of unexpected repairs or replacement of major systems and appliances that breakdown due to normal usage or defects in materials or workmanship. Home warranties can be purchased at any time from REALTORS®, builders and independent providers.
Coverage begins 30 days after enrollment and receipt of applicable contract fees and continues for 365 from start date. If you are able to provide proof of prior coverage through another warranty carrier, showing no lapse of warranty coverage, according to experts, all of those warranties are 100 percent transferable for consumers who opt to choose your home warranty.
For more information, visit www.realestateeconomywatch.com.