According to a recent report from insurance firm Hippo, surveyed U.S. homeowners spent an average of $6,000 on maintenance and repairs last year. Considering the average annual cost of a home warranty can usually range from $300 to $600, you could break even with just one repair or replacement. This is especially true for those big-ticket items typically not covered under home insurance – such as refrigerators, A/C units, or washing machines. Many companies also offer multi-year or veteran discounts, making home warranties a smart financial tool for many homeowners.
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