THP Blog
Order a Home Warranty!

Home Protection Plan Is A Financial Aid - How True Is That?

Wednesday, February 10, 2021
As a new homeowner, you have a hundred things popping in your brain. If you are planning to plow your money into a property, the feeling is no less different. There are innumerable things that will throw you in a puzzle. One such example is a home protection plan.

You may have picked up the buzz on home warranties and protection plans but the concept is still very unclear. Post buying a property, you are willing to shell out some money on home insurance. While that’s great, neglecting the idea of spending some money on a home protection plan is not a good decision.

The word ‘INSURANCE’ strikes harder and appeals big in terms of securing a prized property. Your home for example. A home protection plan is much different and serves you plenty of benefits in reality. Let’s get down to the details.
 
How different is home insurance and a home protection plan?

1.
Home insurance is pretty much mandatory while investing in a home warranty is totally your call. If however, you have a mortgage in the said property, you will have to secure the asset with an insurance policy, in compliance with the lender’s requirements.

2. You can claim the insurance money when your property has succumbed to catastrophic damages caused due to fire, natural disasters, or perils like robbery. Frankly, there’s a plus to home insurance as well. If a person gets attacked or succumbs to injury on the said property, during the perilous event, the insurance plan pays for such liabilities too.

Think about it - will you cross your fingers and pray for a disastrous episode to hit you? Guessing ‘NO’ is the answer. Till then, any appliance that shuts working or any household system that cuts short or breaks down will need immediate repair.

This is where a home protection plan comes into play. Settling the bills of replacement and repairs can cost you a great deal of money. Also, things like built-in microwaves, air conditioners, or HVAC systems, electrical can stop running multiple times. How much are you willing to pay, every time an appliance or household system wears out? A home protection plan covers these expenses. Whether it is once or ten times, fixing an appliance, that’s covered in your home protection plan is easier settled than thought. All you’ve got to do is inform the relevant home warranty company and maybe pay a minimal amount as a service fee.

It still is way better than shelling out thousands of dollars to fix a household system and make it as good as new. In short, a home protection plan is a much needed financial aid.

3. A home insurance policy offers you peace of mind if your property has been destroyed due to flood, fire, or any other natural calamity. If your house is vandalized or robbed, you can certainly seek compensation.

Not always will there be a burglar attack? Neither will you wait to encounter a catastrophic calamity. Everything from your plumbing system and HVAC to your stovetop and heaters is nothing but machines that are running. These things can come to a crashing halt anytime without a sign of warning. Setting them up and restoring the appliances to working order is an expensive service. A home protection plan simply takes care of these expenses and rewards you with much more relief and peace of mind. Don’t you agree?

The Final Verdict:

Home protection plans are service contracts that are valid for a year. In event of a faulty home system or appliances that just won’t work, you can enjoy quick repairs and replacements, if needed, without paying anything at all.

Maintaining a home is very essential. Ensuring that all systems are in working order, particularly the electric set up and the plumbing system is necessary. Scheduling routine maintenance or security checks involves paying hefty fees, right? Many might skip the idea or procrastinate periodic maintenance for some time later due to budget restraints.

Results? You could short-circuit the entire place or your appliances can be totally damaged. A home protection plan helps you in scheduling maintenance and security checks without added fees. Careful or ignorant doesn’t matter. The company you choose to plow your money into for a home protection plan has got you covered.

Thus, home insurance is essential but a home protection plan is just as valuable. It keeps your property in shape without having to deal with expensive repairs