What is the meaning of home warranty?

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A home warranty is a service contract that, for a set period of time, covers the cost of maintaining household systems or appliances. Home warranties are most often advised when purchasing an older home for which information is not readily available on the items.

What is a 3 year service plan?

When you buy a new vehicle, your vehicle is commonly protected under a manufacturer’s warranty for a specific number of years or miles, typical 3-year/36,000 mile, whichever comes first. Once you pass the limited warranty’s time or mileage threshold, you are fully responsible for repairs to your vehicle. Dec 15, 2021

How long is a service contract?

Background: Paragraph 17.204(e) of the Federal Acquisition Regulation (FAR) establishes a maximum of five years, which includes the basic and all option periods, for contracts for services as well as for supplies.