A short YouTube interview (host Andrew Lamb with guest Lisa Visa from Fidelity Home Warranty) clarifying common misconceptions about home warranties. Main claim: a home warranty does not cover “everything under the roof” but typically repairs or replaces major systems and appliances that fail from normal wear-and-tear, and can substantially offset costly repairs. A homeowner anecdote describes a tankless water heater failure where a nominal service fee (~$75–$85) plus a purchased warranty (about $400) avoided roughly $2,000 in replacement costs. The video closes with contact/CTA from the host.
Questions this video answers
Lisa Visa from Fidelity Home Warranty.
Approximately $75–$85 for a service visit.
Around $400 when they purchased the home.
About $2,000 in avoided replacement costs.
Chapters
Hey, Andrew Lam here, owner of the Andrew Lamb real Estate team at KW Baca Valley. And today we're talking about common misconceptions about home warranties and why you should have one as a homeowner or as a potential homeowner and what they do for you. So we're going to get into that with a guest today, Lisa Visa from Fidelity Home Warranty. Before we get into that, if you're looking to purchase a home, please make use of the Search all Homes link. That will allow you to basically have a backstage pass of the mls. If you're looking to find out what your home is worth in today's market, either to battle your tax assessment or refinance, potentially just, you know, figure out what it is in today's market so you can sell it as well. Click the home value link. That will give you a good indication of how much your home could sell for in today's market and allow you to reach out to us directly if you want to move forward in that.
So today we're here with Lisa Visa from Fidelity Home Warranty, and we're talking about the common misconceptions around home warranties. Lisa, thanks for joining us today.
Absolutely. Thanks for having me.
Yeah, of course. And so the question is, what is the biggest misconception about home warranties?
Well, Andrew, I think the biggest misconception would be that a home warranty covers everything under the roof. Oh, don't worry about it. We're going to get your home warranty. So everything and anything is going to be covered. And that's simply not true. There are, there are limitations. There are things that aren't covered. And basically, if we just kind of go at it as a home warranty is in place to help offset the cost of homeownership and major repairs or replacements. So in a nutshell, a home warranty repairs or replaces major systems and appliances in the home that fail due to normal wear and tear. So do we cover everything?
No.
Do we really help offset the cost of repairs, major repairs? Absolutely.
Yeah.
Absolutely.
Absolutely. And I can give an example of that. Recently we moved into our home and the hot water heater went out. It's a tankless water heater. But simply by having a home warranty, we paid, I think, $85 for someone, $75 for someone to come out, check it, and actually fix everything for much less than the cost of replacing the water heater. It's extremely old. I think we're talking 1990s here. Right. Which for tankless is pretty old. And like first generation tankless water heater and it saved us about two grand.
Absolutely.
So a small purchase, $400 when we purchased the home, saved us thousands of dollars. So if you are currently in a home and whether it's something you just purchased, you're in the middle of escrow or you've been living there for 20 years, you can and I think should get a home warranty to offset those costs. Especially as your home gets older, you're going to have more and more deferred maintenance. Why not get that covered? Just makes sense to me.
Thanks so much for joining us today. If you have any home warranty stories of where home warranty has saved you a ton of cash, we'd love to hear it. We'd love to be able to share that with you and anyone who does write in reply to this email or comment on this video on YouTube on Facebook, we will send you a $10 gift card if we end up mentioning that on another video. So thanks so much for reaching out, saying thanks so much for joining us today. We look forward to providing you more valuable information in the future.
