thrifty tuesday: protect your investment PSA

I thought I’d take a little break today from the before-and-afters to discuss something I don’t see being discussed a lot.

We spend a lot of time caring for the surfaces of our homes, cleaning, decorating, fixing etc. We (or at least I) don’t give much thought to the less glamorous parts…until something goes wrong. And a lot can go wrong.

A few weeks ago I watched a house 3 doors down from me burn to the ground.  What a harrowing experience!  I’m sure the owners had the proper insurance. Having insurance is a basic requirement of owning a home, we all know that.  While most of us will hopefully never have to go through such a tragic event, other things could go wrong.

Homeowner’s insurance will cover accidental damages, but what about things that will not be covered with your homeowner’s policy? Did you know that there were other coverages you should have for those? I knew about Home Warranties that will cover appliances and such breaking down, but even those policies don’t cover everything.

I found out through my local Gas company that there is a third line of defense called a Service Protection (a generic term).  These kind of policies pick up where your Homeowner’s Insurance and your Home Warranties drop off.  They are designed to cover repairs to things like inside and outside wiring problems, inside and outside water and sewer line problems, etc.  Some of these repairs could cost upwards of $4000! That’s a lot of money!

Did you know that you are responsible for fixing problems in your sewer lines all the way to the main line of your street?  A few months ago we had a problem with our main sewer line. That problem had us sidelined for a few weeks (with a houseguest in the mix, yikes!).  Had it been a completely broken sewer line, that problem would’ve cost $4000. With a service coverage in place BEFORE the incident, our repair would have been covered.  Fortunately It turned out to be just a seriously clogged pipe caused by tree roots growing into our sewer pipes.  It turned out to b a $250 fix, but we have learned our lesson.  I have since used my coverage to repair a faulty outlet in my dining room, with great results.

I am in no way affiliated with any of these Service Protection Plans, I am just sharing a solution that I didn’t know existed to a problem that I didn’t know was possible.  If I didn’t know of such a plan, I’m willing to bet many other people don’t either. I suggest contacting your local utility company to find out what companies provide such services in your area.

Good luck, and enjoy your home!