(OLATHE, KS –January 15, 2008)
With the nation in an official recession, it’s time for consumers to make wise choices regarding expenses. One of the biggest, and often unplanned, expenses a homeowner can face is the repair or replacement of a major appliance or home system – like the furnace, dishwasher or air conditioning. That is why it is important, now more than ever, for homeowners to renew existing home service contracts.
Home service contracts are frequently offered by home sellers in an attempt to entice buyers. With the continued decline in the U.S. housing market, home service contracts are being offered now more than ever. They generally provide repair or replacement coverage for items such as dishwashers, ovens, disposers, electrical and plumbing systems - and most importantly, heating, ventilation and air conditioning systems (HVAC).* Many home service contract providers also offer a menu of optional items such as pool and spa equipment, well pumps, and free standing appliances such as refrigerators and clothing washers and dryers for an additional fee.
The important thing for homeowners to remember is that home service contracts need to
be renewed annually.
“Some homeowners mistakenly believe their contract is only good for the first year, but in fact, they can be renewed every year, “ said Billy Jensen, Fidelity National Home Warranty and NHSCA President. “Contracts generally range from $350-$500 annually but can save homeowners thousands in repairs or replacement costs. In today’s economy the unexpected expense of replacing a furnace could be devastating.”
The National Home Service Contract Association (NHSCA) is a non-profit 501(c) (6) industry trade organization of member companies serving home service contract providers and consumer interests throughout the United States. . For more questions and answers on home service contracts visit the NHSCA website page www.homeservicecontract.org/faq.htm
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