Service Contracts Key to Protection From Record Summer Heat This Home Buying Season

TALLAHASSEE, Fla., July 6, 2016 /PRNewswire/ — With summer temperatures predicted to be among the hottest in the last three decades across the United States, home service contracts (often referred to as home warranties) are the best way for homebuyers to stay cool under the pressures of purchasing.

This summer will likely be among the top 10 hottest across the country over the past 30 years, according to the National Oceanic and Atmospheric Administration. With homes getting snapped up quickly by eager buyers every day, the Service Contract Industry Council recommends that consumers in the buying process seek to work a home service contract into the deal or invest in one themselves.

“Homes are a major financial investment, and repairs and replacements on appliances and major systems can cost anywhere from $700 to more than $3,500,” said Tim Meenan, CEO and executive director of SCIC. “While new homeowners face numerous expenses, a home service contract can guard against these unexpected pricey repairs and replacements.”

A service contract protects the homeowner from major system and appliance repair and replacement costs and relieves the hassle of finding qualified repair contractors. Typical home service contracts cover air conditioning, electrical and plumbing, and other major systems as well as appliances including dishwashers, refrigerators, and more for renewable one-year terms. The customizable plans offer convenient repair resources right at the homeowner’s fingertips for only a small service fee at each repair visit.

Research shows that contract holders on average utilize their home service contracts more than two times every year. Home service contracts also improve the resale value, and the National Association of Realtors recommends homebuyers begin the process of looking for warranties before they even commit to a home.

With the NOAA weather predictions showing the July-September outlook among the hottest summer months in recent history, there’s no better time for homeowners to protect their A/C and any other systems and appliances with a home service contract.