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July 5, 2013

Does Your Home Insurance Policy Cover Your Air Conditioning System?

With summer heat just around the corner, many people are anticipating the frequent use of their air conditioning system. What would happen, however, if your system were to break down during the hot months? Would you be able to afford the cost of repairing or replacing it? Or maybe you were thinking that your Illinois home insurance policy would cover it? 

The truth is, repairs to house appliances are costly and, unfortunately, most general home insurance policies do not cover them. Your average home insurance policy covers loss or damage caused by hazards or natural disasters. In the event that a home appliance needs to be repair or replaced, though, what is needed is an additional policy known as home warranty insurance.

These days, the cost of repairs and replacement parts for major appliances are nearly as expensive as replacing the whole system itself. Home warranty insurance saves you from having to break your budget when an unfortunate incident happens. Depending on how much you are willing to spend, most policies cover the major appliances within a household. This can include microwaves, washing machines, ceiling fans, dishwashers, garbage disposals, ovens, and much more. A home warranty policy usually also covers heating and cooling systems and the major electrical systems throughout the house. However, keep in mind that there are a range of appliances like smaller AC units that some policies do not cover, so make sure that you read the fine print.

The best way to get the most out of your home warranty insurance policy is to shop around. There are many companies that offer policies at great prices, but on closer inspection, their coverage is limited.  Also, the onus is on you to find out what would result in a claim being denied. For instance, many home warranty insurance companies state that if they do not believe that the appliance in question was maintained and serviced the way that it should have been, they will deny the claim. Find out all that you need to know to make sure that such an occurrence does not happen. Any reputable insurance company or home warranty company will usually detail and notify the policy holder of what they will be looking for in an appliance that is well maintained. This way, the owner can make sure that a proper maintenance schedule is maintained. It is also advisable to keep all documentation as evidence that you have done so.

Many people are unaware of the benefits of having a home warranty insurance policy. Most are inexpensive and are very beneficial when a claim needs to be made. For more information about this type of insurance, call Cloverleaf Insurance today at 800-530-5822.

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