5 Most Popular Home Warranty Myths DEBUNKED

by Tammi Burgee

The home warranty industry is full of myths.
Here are five BIG ONES debunked:

1) Home warranties are too expensive.

Actually, replacing large systems and appliances can cost you thousands of dollars whereas most home warranties cost between $300 and $600 a year depending on coverage.

Did you know homeowners spend 1 to 4 percent of their home’s value each year on maintenance and repairs? This only increases as the house ages (U.S. News). Most people don’t have over $2,000 to drop on a brand new oil furnace when your old one decides to flop.

The median value for a home in the United States is $198,000 (Zillow). This means that a home listed at that price or higher, requires $1980-$7920 or more for maintenance and repairs each year, which is far more expensive than a home warranty. When you’re struggling with finances, the last thing you want to worry about is an expensive liability. 

2) Homes with new appliances don’t need a home warranty.

Appliances are not immune to breaking down just because they’re “new”.

Having a home warranty protects you from expensive repairs and replacements in the most unexpected cases. We all know that when you own a home, “unexpected” is not a word you want to hear.

20 percent of dishwashers and 31 percent of side-by-side refrigerators with icemakers tend to break in just four years (KIMA). This is because consumer-product companies are constantly releasing new products, resulting in shorter product lifecycles and more money out of your pocket. 

3) Filing a claim is too complicated.

With the right company, filing a claim can be pretty simple. When requesting service, you want it to be fast, easy, and painless. Fidelity National Home Warranty provides 24-hour service requests online and by phone. They’re dedicated to making it an effortless and enjoyable process for you. Simple repairs are usually made during the first appointment, making your life that much easier. 

4) I maintain my appliances—I don’t need a home warranty!

Keeping your appliances clean or checking them on a regular basis is a great start, but it doesn’t mean they won’t have malfunctions or flop on you from time to time.

 If you find yourself constantly on the go with barely enough time to catch your breath, it’s hard to make sure all your appliances and units are getting the maintenance they need. Even if you take great care of your appliances, unexpected breaks, leaks, and malfunctions can occur and stress you out.

 5) I already have homeowners insurance.

Actually, homeowners insurance and home warranties are not the same thing. They both protect your home, but in different ways.

 Home warranties cover the repair or replacement of appliances, plumbing, electrical work, and the like. Homeowners insurance, on the other hand, covers the repair of your home and replaces your property after events such as fires, theft, storms, and other natural disasters. It also provides liability coverage which helps you in the case of someone getting injured in your home.

 Think of it like this: home warranties cover the items you rely on for everyday tasks while homeowners insurance is the safety net for unfortunate events that may occur. Both are extremely important for protecting your home and keeping peace of mind.

There are plenty of myths out there, but the truth is that
home warranties make owning a home more rewarding.

Tammi Burgee is the Assistant Vice President of Fidelity National Home Warranty, where she has been since 2007. Fidelity National Home Warranty sends their best technicians to your home to repair or replace your appliances so you can get back to that hectic life of yours. Tammi’s office serves Denton, Dallas, Collin, Kaufman, and Rockwall Counties. She can be reached at tammi.burgee@fnf.com

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