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Home Warranty A home warranty
protects you from the expense of major repair or replacement caused by
unexpected mechanical failure of a major system or appliance. For a moderate
premium (usually in the $400 range for a basic warranty) payable at closing, you
can acquire a warranty which protects your home for one full year after closing from
major repair or replacement bills.
Most warranties have a $50 to $100 deductible, and you
usually must contact the warranty company for repairs. The age of the home should
be a consideration as to whether to purchase a warranty or not. Several
companies offer these warranties.
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