California homeowners and real estate professionals often secure home warranty plans to safeguard against potential legal issues arising from appliance or system failures within the first year of ownership. These warranties are not only a safety net for sellers but also a value-add for buyers, offering peace of mind in the transaction. The Home Warranty Association of California (HWAC) represents the leading providers in the state, ensuring that Californians have access to reputable and reliable home warranty services.
Home warranties are service contracts that cover the repair or replacement of major home systems and appliances that fail due to normal wear and tear. Unlike homeowners insurance, which covers damage from events like fires or natural disasters, home warranties address the inevitable breakdowns that occur with time.
Fidelity National Home Warranty Company, a HWAC member with a positive rating from homewarrantyreviews.com, offers one-year Standard and Comprehensive Plus plans tailored to California's specific warranty requirements. These plans cover essential home appliances and systems, with the option to add coverage for additional items. Fidelity National stands out with its pre-screened technicians, automated repair tracking, and a 30-day labor guarantee coupled with a 90-day parts guarantee. Their policies include a $55 service fee and mandate a contractor response within 48 hours. Coverage for buyers begins at escrow closing, while new construction coverage starts on the first anniversary of escrow closing.
Established in 1974, Old Republic Home Protection Company, Inc. is another HWAC member recognized by Home Inspections USA and homewarrantyreviews.com. Their Comprehensive Plan allows for customization on top of the Standard Plan, which includes coverage for failures due to lack of maintenance, rust, corrosion, and unknown pre-existing conditions. The company offers plans for single-family homes under 5,000 square feet, with upgrade options like the Ultimate and Platinum Plus plans, featuring additional benefits exclusively for home buyers.
2-10 HBW Warranty of California, also an HWAC member and listed by Home Inspections USA, provides two warranty types: the 2-10 Warranty/New Construction Home Warranty and the Systems and Appliances Warranty/Home Service Contract. The former must be applied for by the home builder, who agrees to adhere to underwriting guidelines and the terms of the agreement with 2-10. Upon closing, homeowners receive a warranty certificate with the builder's name. The latter warranty covers major systems and appliances, with 2-10 dispatching contractors for repairs, while homeowners pay a deductible.
Home warranties can be a critical tool for managing unexpected repair costs. According to a 2021 report by the Service Contract Industry Council, service contracts like home warranties saved consumers over $30 billion in potential repair and replacement costs in 2020 alone. Moreover, the National Home Service Contract Association suggests that homes covered by a warranty sell faster and at a higher price, indicating the value these policies add to real estate transactions.
Kristie Lorette is a freelance writer and marketing consultant with expertise in personal finance. As the editor of The Mortgage & Credit Diva blog, she offers insights into mortgage and personal finance strategies. Her work can be found at Mortgage and Credit Diva or learn more about her writing and marketing services at Studio K Writing.
When considering a home warranty, it's essential to compare different plans and providers, read customer reviews, and understand the specifics of coverage options. For more information on home warranties and providers, visit the Home Warranty Association of California and homewarrantyreviews.com.
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