Home Buyer Protection Insurance - A Loan Love Guide To Securing Home Repairs

PR Newswire

SAN DIEGO, June 1, 2014 /PRNewswire-iReach/ -- LoanLove.com is a borrower advice website that strives to empower home loan borrowers with first class information, valuable resources and connections to top rated industry professionals. Their articles offer in-depth knowledge in an easy to understand package which has quickly turned the website into a trusted destination for current news and expert loan advice. Having a home buyer protection plan is not only playing it smart when it comes to protecting a home's property, it also allows home owners to have a peace of mind when it comes to paying off home repair expenses. One of Loan Love's new article gives reader an informed look at home buyer protection insurance and the benefits that come with it.

Home buying can be an arduous task, and the thought of covering the repair bills can ony hamper a home borrower even further. Loan Love recommends looking into getting a home warranty, as their article states: "A home warranty is essentially a one-year residential services contract that covers repair or replacement of the components of your home's most important operating systems and appliances if they fail due to normal wear and tear.

There are benefits to both buyer and seller. The seller has the assurance of knowing he or she is not going to be getting phone calls from angry buyers who have had to sink money into repairs and replacements of major systems in the home just sold.

As a buyer, your benefits are obvious: you can move in with peace of mind, knowing the cost of any possible major repairs with most of your home's systems are covered."

A home warranty usually covers a multitude of home systems and appliances, which range anywhere from water heaters to dishwashers, from ceiling fans to landline telephone wiring. When a repair is needed either the home owner of home warranty representative will call a repair company and schedule for an appointment. Just like any repair company, the service company will come over and repair the appliance but instead of paying for service afterwards payment will covered by the home buyer protection plan.

Home buyers should however take note of which items will be included in a home warranty as a few items may not be covered. Outdoor items such as pools, lamps and sprinklers are likely to not be included in a home warranty. Even indoor items such as dish washers may not be included in the home protection plan. To add to this, home owners may even be rejected repair service if their home appliances are improperly cared for or for if they commit any code violations. Home buyers should check with real estate agent first to see which items will be provided for in a home protection plan before making a house purchase.

That being said, a home buyer plan can aid home buyers in many ways without worrying them about the future payments on their part to home repairs. On a final note, the Loan Love article had this to say to potential home buyers: "In some areas, it is commonplace for the seller to purchase the home buyer protection plan for the buyer. In others, the buyer is left on his or her own to find coverage. Your real estate agent and lender can serve as excellent resources for helping you find a protection plan that fits your needs.

The plans are typically economical to purchase, with price varying according to the cost of living and other financial parameters in your area." To learn more on home buyer protection insurance and their benefits, please visit LoanLove.com to read the full article.

Media Contact: Kevin Blue, LoanLove.com, 949-292-8401, contact@loanlove.com

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