You know the drill when it comes to the little things in life. You protect your suede shoes from water damage by refraining from wearing them on rainy days. When your friend is having a rough week, you have the words and hugs to comfort them. But when your plumbing system fails, you may have no idea how to avoid damage to your home.
Home repair plans can provide a blanket of comfort when it comes to protecting your finances. Giving you the support and peace of mind you need to manage the systems and appliances that make your house the comfortable living space you love.
When Mother Nature takes aim at your home, homeowner’s insurance can help you to correct the damage.
When things break from normal wear and tear, a home warranty provider can help you find a professional who can help. What's more, these types of plans provide financial support to make the necessary repairs.
With that in mind, here are the steps you can take to help protect your home’s finances:
Step 1: Insure your home
You'll want to invest in home insurance to protect your abode from issues such as severe weather, fires, property crimes and structural damages. Generally, the primary areas of insurance coverage, include:
- Home interior and exterior.
- Personal property in case of theft, loss or damage.
- General liability in the event that someone is injured on your property.
Step 2: Sign up for a home warranty plan
A home warranty or repair plan fills in the gaps that your insurance policy won't cover. When normal wear and tear causes your plumbing, HVAC or electric systems to breakdown, a home warranty plan can help cover repair or replacement costs. While the specifics vary by plan and provider, many also offer appliance coverage.
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For instance, having a home warranty plan in place will come in handy during situations, such as:
- Your air conditioner is on the fritz.
- Your furnace is making concerning noises.
- You notice signs of electrical problems, such as sparking outlets or fraying wires.
- Your DIY solutions aren't enough to fix a system or appliance issue.
When you are prepared with a plan, you won’t have to scour internet reviews to find a trustworthy professional to troubleshoot the issue. You can simply call your home warranty provider. They'll arrange an appointment with a licensed technician, and your plan can help cover the costs of parts and labor necessary for the covered repair.
Among the many reasons homeowners choose to sign up for home repair plans is the peace of mind that comes from knowing you'll be covered when unexpected issues arise. The cost savings and stress relief when problems do occur also help seal the deal.
When you're searching for the right home repair plan, be sure to inquire about monthly or yearly costs, coverage limitations, contract terms, potential fees and helpline services.
Step 3: Install security measures
While home protection plans can defend your home against damages and breakdowns, security systems can keep your home safe from unwanted intruders. Start small with video doorbells and other smart security gadgets, eventually working your way up to a full security system.
Step 4: Maintain your home
Your home systems and appliances require a fair amount of upkeep to ensure they continue to run efficiently. By performing seasonal as well as ongoing maintenance tasks, you can prevent major issues and breakdowns from burdening your home.
If you're unsure where to start, here are some guides to help you master your maintenance routine:
Being prepared for home repairs before they arise is always a good strategy. See how plans from HomeServe can help with the costs of covered repairs.