Our Home Warranty program: why no buyer should be without it

The Home Warranty company we use is AON, a large company that in our opinion, is less likely to go bankrupt and leave all of us holding the bag (or broken dishwasher, as the case may be). The Warranty is paid for by Coldwell Banker and me and covers both Buyer and Seller if the property is our listing.

Example 1

123 Main St is listed with Coldwell Banker Colorado Rockies Real Estate. We provide the Home Warranty, which covers the Seller during the listing period, and the Buyer, even if they are working with another company, for one year.

The coverage for the Seller consists of internal plumbing system, water heater, internal electrical system, dishwasher, garbage disposal, built-in microwave oven, trash compactor, range/oven/cooktop, and exhaust fans. If the Seller wants additional coverage for the heating system, it is available for a $75 fee.

The Buyer gets all the coverage listed above, plus the heat system and ductwork, and the septic system if there is one, for one year from the closing date. The Buyer also has options to cover additional items in the home for a fee, or he/she may extend the warranty for an additional year or more.

Example 2

A Buyer working with a Coldwell Banker Colorado Rockies broker buys a home listed by another company. As of the closing date, the Buyer is protected by the home warranty, covering the same items as the Buyer above, for one year. The Buyer has the same options to extend or add coverage. The Home Warranty is paid for by Coldwell Banker Colorado Rockies and Joanne Hanson and the Mountain Living Team.

Of course, there are specific insurance company rules about what they will and won’t cover. You will be given a brochure giving you all the details about it as we work with you. The deductible is $35 per service call, and you must call the insurance company so they can arrange for repair or replacement of the item, as needed.