Feb 5, 2021

Home Repair Insurance - Probably a Good Idea

Seniors living on a fixed income and or others who would have a problem covering a big repair expense, might be better off buying home repair insurance to fix annual liability.   There are several companies that provide it.  For a monthly fee usually billed to a credit or debit card, insurance can be purchased that covers all appliances, heating and air conditioners, garage door openers, plumbing and electrical.  Very often depending on the cost of the premium, which is usually about $35 to $50 a month, if a service call is needed, there is a deductible that may range from $50 - $100.  

However, after paying the deductible the repair is completed at no additional cost to the insured and or if the the repair would cost more than replacement, the home insurance company generally provides the monies to pay for a replacement.  Naturally, like all insurances there are provisions governing utilization.  For example, heaters and air conditioners should have annual maintenance, which is not covered under the policy and would be a condition for replacement.   

In order to get services, a request for service is usually placed on line, or by calling their 800 number.  Doing it on line is the most efficient way of setting up a service appointment.  In many cases, it may take 2 - 5 days for a service man to come for an appointment unless it is an emergency.  At Paragon Home Resources, we regularly refer our customers to our home repair insurance partner.  Not only is this insurance good for on going repairs, it is often provided by the seller to the buyer for a year of coverage to deal with any repairs that may come up after a sale.  Home Repair Insurance is a good cost effective solution for many people.