Finance Blog

Stay financially savvy with the Equifax Advisor.

Sign up for our FREE Monthly Email Newsletter


Thank you for signing up for the FREE Equifax monthly newsletter

In addition to keeping in the financial know, you may be interested in checking your credit score and report.

Understand your credit. Help protect your identity.

Equifax Complete™ Premier Plan

  • Know What May Influence Your Credit Score and Be Alerted of Changes
    Credit score monitoring with custom alerts
    Important Disclosure: The Equifax credit score and 3-Bureau credit scores are based on an Equifax credit score model and are not the same scores used by 3rd parties to assess your creditworthiness.¹
  • Help Protect Your Identity
    Automatic fraud alerts encourages lenders to take extra steps to verify your identity²
  • Lock Your Credit
    The ability to lock and unlock your Equifax Credit Report³
Save 75% your first 30 days with the purchase of Equifax Complete™ Premier

$4.95 for the first 30 days, then $19.95 per month thereafter. You may cancel at any time; however, we do not provide partial month refunds.4

¹The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.

²The Automatic Fraud Alert feature is made available to consumers by Equifax Information Services LLC and fulfilled on its behalf by Equifax Consumer Services LLC.

³Equifax Credit Report Control™ is only available while you have a current subscription to Equifax Complete Premier. Locking your credit file with Equifax Credit Report Control will prevent access to your Equifax credit file by certain third parties, such as credit grantors or other companies and agencies. Credit Report Control will not prevent access to your credit file at any other credit reporting agency, and will not prevent access to your Equifax credit file by companies like Equifax Personal Solutions which provide you with access to your credit report or credit score or monitor your credit file; Federal, state and local government agencies; companies reviewing your application for employment; companies that have a current account or relationship with you, and collection agencies acting on behalf of those whom you owe; for fraud detection and prevention purposes; and companies that wish to make pre-approved offers of credit or insurance to you. To opt out of such pre-approved offers, visit www.optoutprescreen.com/.

4We will require you to provide your payment information when you sign up and we will immediately charge your card $4.95. After that, we will charge the card $19.95 for each month you continue your subscription. You may cancel at any time; however, we do not provide partial month refunds.

Equifax® is a registered trademark and Equifax Complete™ Premier is a trademark of Equifax, Inc. © 2014, Equifax Inc., Atlanta, Georgia. All rights reserved.

Is a Home Warranty a Good Idea?

Written by Ilyce Glink on October 30, 2013 in Real Estate  |   3 comments

When you’re buying a home, you may be given the option to purchase a home warranty. While the specifics can vary from policy to policy, home warranties are generally designed to cover the costs of repairing or replacing home appliances and mechanical systems at a…

buying a homeWhen you’re buying a home, you may be given the option to purchase a home warranty.

While the specifics can vary from policy to policy, home warranties are generally designed to cover the costs of repairing or replacing home appliances and mechanical systems at a discounted rate.

As you decide whether a home warranty is a good option for you, consider the following questions:

What does a home warranty cover?

A home warranty is a service contract between a homeowner and a home warranty company. It is neither the same as homeowners insurance nor a replacement for insurance. Unlike homeowners insurance, which can cover damage caused by natural disasters or property crimes, home warranties offer discounted repair and replacement of broken-down mechanical components and appliances in a home, including the furnace, the air conditioning and electrical systems, refrigerators, washers, and dryers.

Generally, the home warranty company will send out service contractors to repair faulty appliances or mechanical and electrical systems. If an appliance or system is beyond repair, the company will provide a replacement. In both instances, the homeowner is responsible for a deductible (in addition to the cost of the warranty itself).

Who needs a home warranty?

Dominic Cardone, a broker and Realtor at Keller Williams in Media, Penn., has been in the real estate business for more than 30 years, and he has been a proponent of home warranties for his whole career. “It’s like health insurance and car insurance,” he says. “It’s a good precaution to take.”

Purchasing a home warranty, which can cost around $400 to $600 a year, is especially beneficial for those buying an old home or a home with aging appliances and systems, Cardone says.

First-time homebuyers can also find peace of mind with a warranty. “They don’t need that surprise that first year,” explains Cardone, who is also a regional vice president for the National Association of Realtors. “[A home warranty] just takes the edge off potential problems.”

Home sellers can also purchase a home warranty for the competitive edge it offers in the housing market. As soon as the home gets sold, the warranty coverage transfers to the next homeowner, thereby offering homebuyers more coverage.

“I just find from my point of view that it helps everybody in the real estate transaction,” Cardone says.

What’s the downside to a home warranty?

As with any product or service, there are potential pitfalls, so it’s important to read the fine print and know what claims would qualify in any given warranty.

“They don’t cover everything,” Cardone warns. For example, if there’s flooding in a basement, a home warranty may fix a broken plumbing unit that caused the flooding, but it would not cover other kinds of damage caused by the flooding, such as mold or a broken window. Those issues fall under homeowners insurance.

Homeowners should also look out for additional fees and exclusions. Additionally, be aware that in some cases, a homeowner and the warranty company could disagree on the merits of a claim as well the brand and model for replacements.

However, in Cardone’s experience, “the horror stories you hear are the exceptions.”

“I’ve heard from buyers who regretted not having a home warranty,” he says. “I never hear people say, ‘I wish I never bought a home warranty.’”

Ilyce Glink is the author of ten books, including the bestselling 100 Questions Every First-Time Home Buyer Should Ask. Her nationally syndicated column, “Real Estate Matters,” appears in more than 125 newspapers and Websites, and her online “Ask Ilyce” columns are read by hundreds of thousands of people every month. She is a top-rated radio host on WSB Radio in Atlanta, the Home Equity blogger at CBS MoneyWatch.com, host of the Internet program “Expert Real Estate Tips,” managing editor of the Equifax Personal Finance Blog, and publisher of ThinkGlink.com.

The information contained in this blog post is designed to generally educate and inform visitors to the Equifax Finance Blog. The blog posts do not give, and should not be assumed to provide, personalized tax, investment, real estate, legal, retirement, credit, personal financial, or other professional advice. Before making any financial decision, you should always consult with the appropriate professionals who can explain your options, rights, and legal responsibilities, and advise you on any tax, legal, credit, or business implications that may result from those decisions. The views and opinions expressed by the authors of blog posts are their own views and may not be the views or opinions of Equifax, Inc. and/or its affiliates.


  1. Edward Ward says:

    One exclusion to be careful of is the costs of recharging an air conditioning system. Most systems still use R-22 freon(newer systems now use R-410a but you must replace all working components of the system, inside and outside). This gas now sells for about $60 to $70 per pound and continues to rise. You may need 6 to 12 pounds to recharge a home system. Home warranty agreements generally limit coverage to no more than say $10 per pound. Therefore your share of the costs would be the excess over $10 per pound of refrigerant plus your deductible.

  2. Will Jackson says:

    This is something every responsible homeowner should consider. There are some companies that cover pre-existing conditions too. But just make sure you check home warranty reviews for top rated companies before you sign the contract. There are some not-so-reputable companies over there.

  3. Home Warranty Questions says:

    Buying a home warranty is a good idea if you have appliances that are outside of their manufacturer’s warranty, or if you have important things that are not included in the homeowners’ insurance policy. It is important to factor the cost vs the benefit and it will help you to determine if a home warranty is right for you. Best of luck!


Commenting guidelines

We welcome your interest and participation on this forum, but be aware that comments will be published at Equifax's sole discretion. Please don't use this blog to submit questions or concerns about your Equifax credit report or raise customer service issues. Instead, you should contact Equifax directly for all such matters and any attempts to do so in this forum will be promptly re-directed.

Some other factors to consider when commenting:
  1. Registration and privacy. While no registration is required to visit our forum, participants wishing to post a message must register by creating an account. All personal information provided by forum members incident to registration is governed by our Terms of Use and Privacy Policy.
  2. All comments are anonymous. We'll delete your name, e-mail address, and any other identifying information, including details about your investments.
  3. We can't post or respond to every comment - As much as we'd like to, we can't post every comment, nor can we guarantee that we will respond to each individual message. All questions or comments about your Equifax credit report or similar customer service issues should be handled by contacting Equifax directly.
  4. Don't offer specific legal, tax or financial advice. All of the materials on this Site are for information, education, and noncommercial purposes only and this forum is not intended as a means of expressing views or ideas regarding any specific legal, tax, or investment advice. While offering general rules of thumb is both permitted and encouraged, recommending specific ideas or strategies regarding investments, taxes, and related matters is prohibited.
  5. Credit Repair. This blog is not intended as a venue for the discussion or exchange of ideas regarding credit repair or other strategies intended to assist visitors and community members improve or otherwise modify their credit histories, ratings or scores.
  6. Stay on topic. Your comment should be concise and pertain to the specific post in question.
  7. Be respectful of the community. The use of profanity, offensive language, spam, and personal attacks will not be tolerated and egregious or repeat offenders will be banned from future participation. We encourage disagreement and healthy debate, but please refrain from personal attacks on our WordPresss and contributors.
  8. Finally: Participation in this forum may be terminated by Equifax immediately and without notice for failure to comply with any guidelines or Terms of Use. As such, you should familiarize yourself with all pertinent requirements prior to submitting any response through the blog or otherwise. All opinions expressed in this forum are solely those of the individual submitting the comment, and don't necessarily represent the views of Equifax or its management.

Equifax maintains this interactive forum for education and information purposes in order to allow individuals to share their relevant knowledge and opinions with other members and visitors. We encourage you to participate in discussions about personal finance issues and other topics of interest to this community, but please read our commenting guidelines first. Equifax reserves the right to monitor postings to the forum and comments will be published at our discretion. Do you have questions or comments about your Equifax credit report or customer-service issues regarding an Equifax product? If so, please contact Equifax directly. All opinions and information expressed or shared in blog comments are solely those of the person submitting the comments, and don't necessarily represent the views of Equifax or its management.

Real Estate Archive