Any breakdown in the house is concerning, but some problems remain undetected until it’s too late. Mold, termites, and radon are three environmental hazards that can eat away at your finances and your sanity over time.
A home warranty will protect you and your investment from the financial burden of unexpected and expensive mechanical failures. Know what kind of coverage you have. Then, you can get the repairs and replacements you need without breaking the bank.
However, there are some things you should be aware of that can seriously threaten your home’s safety: mold, termites, and radon. Is your home warranty valid for such repairs?
How Do You Define A Home Warranty?
Now, you probably know what homeowner insurance is. This is because it protects your home and belongings from loss due to theft, fire, natural disasters, and lawsuits. Similarly, but in a different way, home warranties shield your investment.
A home warranty is an insurance policy that helps pay for the maintenance and replacement of expensive home systems and appliances. You pay a regular fee once a month or once a year, and then you pay a flat rate for any emergency repairs to your appliances like your washer, fridge, or air conditioner.
What Does A Home Warranty Cover?
When you purchase a home warranty, you can get services to fix or replace certain appliances and systems in your home at a reduced cost. Now, it doesn’t matter whether your home is new or old. You can purchase insurance without proving what condition it is in.
New construction home warranties typically cover structural defects for ten years, HVAC, power systems, and plumbing systems for two years, walls and paint for one year, and appliances for six months.
Understanding Radon Exposure
It is likely that the source of the radon in a home with high levels is the soil directly beneath it. Radon accumulates as uranium decomposes in the soil, rock, and water beneath your home; for radon tests to detect increased levels, there must be openings allowing radon to enter the home.
Indoor air pressure is typically lower than that of the soil immediately outside a home’s foundation. This negative differential pressure will inherently draw radon up from the soil, water, and rock below the house if there are cracks in the foundation.
Do home warranties include coverage for radon mitigation?
Despite the fact that radon testing and remediation are not typically covered by a standard home warranty.
No home is safe from radon because it is a colorless, odorless, radioactive gas that can cause lung cancer. There are two primary entry points: well water and foundational cracks. This indicates that the presence of radon has no bearing on the efficiency of your home’s mechanical components.
Radon testing of your home should be performed routinely. Although radon can be mitigated in a home, the cost of doing so is probably not covered by your warranty.
How Much Does Radon Mitigation Cost?
Since it is still technically the seller’s property until the closing is complete, the seller may offer to pay for these expenses.
Otherwise, the seller may pass the buck and require you to cover the cost of radon abatement in full. It’s probable that they’d offer to split the bill in some fashion.
Does Radon Mitigation Have Extra Costs?
You and the home’s seller coordinated, compared prices, and settled on a radon mitigation service that meets your needs.
It is not possible to install a radon reduction system and forget about it. You should schedule maintenance visits from the team who installed the system once a year, or every two years, at the very least. Although fans are frequently the first to fail, their replacement can be costly in other ways.
Because the system’s fans are constantly running, it could cause a rise in your monthly energy costs. Your utility costs may go up because your radon mitigation system draws in outside air, raising the temperature inside your home.
Most people’s primary financial asset is their home. Combining a home warranty with solid home insurance coverage can be a great way to safeguard your investment. Peace of mind and financial security from potential disasters are provided by a combination of home warranties and homeowners insurance.
Homeowners who are thinking about purchasing a warranty should take their time reading the fine print before committing to the policy. Learn the ins and outs of your policy, including the limits of your coverage. Something’s wrong with one of your home’s appliances or systems? Now you don’t need to be taken by surprise – talk to the Radon mitigation experts today!