Home warranty in Virginia

In Virginia, you can buy a home warranty at any time, regardless of the age of your home or how long you've lived there. 

A home warranty policy is a service agreement between a homeowner and a company that states the terms under which the company will help cover the repair and maintenance costs of home systems and appliances for a given period.

The typical length of a home warranty policy in Virginia is one year.

This depends on your specific plan with the home warranty company you select. At Cinch Home Services, our Complete Home Plan provides comprehensive coverage for most household appliances and systems.

Yes, here’s an easy way to explain the difference between homeowners insurance and a home warranty. Homeowners insurance covers catastrophic, unforeseen events such as accidents, fires and natural disasters. Home warranty protection, on the other hand, covers the appliances and systems in your home. When things such as your HVAC or refrigerator stop working, a home warranty plan is probably worth it and may make it easier (and cheaper) to repair or replace them.

No, home warranties are not required in Virginia.

In real estate, a home warranty can be paid for by the buyer or the seller at closing. For the seller, paying for a home warranty can make the property seem more appealing and help reduce the cost of repairs while the home is on the market. From the buyer's perspective, having a home warranty can provide peace of mind when moving in – especially if they purchase an older home.

Here’s how it works:   

1. The seller purchases a home warranty.  

1. The seller can use the policy to make repairs while the home is listed or in escrow, as long as the issue is not pre-existing.  

1. If the seller uses the policy while the home is listed or in escrow, the seller only pays the cost of service calls, not the cost of the policy.  

1. When the home sale closes, the warranty is transferred to the buyer.  

1. If the buyer accepts the warranty transfer, the cost of the policy usually comes out of the seller’s proceeds.  

1. If the buyer rejects this transfer, the warranty is canceled at no cost to the seller. However, this does vary from company to company.  

A home warranty lapse happens if you cancel your policy or if your policy isn’t set to auto-renew and you forget to renew it. If this happens, you’ll typically have to wait 30 days before your appliances and systems are covered again. During this lapsed period, you'll be financially responsible for any repairs you may need to your household appliances. 

With most home warranty companies in Virginia, you’ll be notified in advance whether you need to renew, or if you’re already on an automatically renewing plan, you’ll also be notified of any rate and/or coverage changes, no less than 30 days before your current agreement expires.