Repair of equipment are essentially the payment of insurance premiums in advance for equipment service or major repair in your home. But the problem with any insurance is the fact that you might not have a problem and some people see this as a waste of money. But I have to disagree. With this type of service plan in place, you pay for peace of mind. They are also called home warranty.
Here is how a protection plan home warranties work.If your washing machine, waste disposal or heating and cooling system is damaged or malfunctions, you have to do is contact the company you buy the protection plan and they will be a technician come to your house and diagnose the problem. Most companies have a service charge call is sometimes called a deductible.
Who needs this type of coverage?
Homeownership is an excellent candidate for this type of warranty plans. First, the new owners are generally short of money, so the threat of having to pay for costly repairs HVAC is too much for them to handle. Repair or replacement of heating systems and cooling systems can cost thousands of dollars.
How much compensation insurance costs of equipment?
The cost of this type of service can vary from plan to plan and from state to state. Premiums are generally cost a few hundred dollars to just under one thousand dollars. The price difference is because of what you need and cover the area you live in. If you only have a closed primary system, your premium will be much less than the cost to cover all equipment, systems and something similar.
Source: http://www.cap1sucks.com/appliance-repair-insurance/.html
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