What is a Home Warranty and What does it do?

A Home Warranty is a specific kind of insurance that covers the cost of repairing or replacing appliances and mechanical systems in a home. The Coldwell Banker Home Protection Program covers the house throughout its duration on the market. If a covered appliance or system breaks down, the Home Warranty will pay for its repair or replacement. The homeowner is only responsible for a small deductible for each service call. The Home Warranty offers real benefits to the home seller. Most importantly, for a reasonable fee paid by either the buyer or seller, the Coldwell Banker Home Protection Program can be extended for an additional year after the home is purchased. Buyers recognize the value of a Home Warranty and often give preference to covered houses as they make their decision.

The house is covered by the warranty from the time it is on the market and to one year after closing. The homeowner is protected from a major repair expense at a time when they may not be willing or able to part with additional funds. The last thing a homeowner wants to worry about is paying for appliance repairs. A house that is covered with a Home Warranty comes with piece of mind for both sellers and buyers.

The Coldwell Banker Home Protection Plan is administered by Aon Home Warranty Services, Inc., a part of one of the largest insurance holding companies in the world. A Home Warranty is not the same as homeowner's insurance, which covers the structure and contents of the house from damage or loss due to casualties including fire, theft, and the elements. Mortgage lenders require a homebuyer to carry casualty insurance.

For information on how the Coldwell Banker Home Protection Program can help sell your house, contact us.