The maintenance of everything the association owns in common (streets, gates, landscaping, pools, clubhouses, and in a condo the building's roof, exterior and shared systems), the insurance on those common areas, management, and a reserve fund for their eventual replacement; what they never cover is anything inside your own walls or on your own lot.
For most owners with a repair fund, no: the $500 to $800 premium, the $75 to $150 fee per call, the caps and the exclusions add up to more than the average owner's covered repairs, but one is a reasonable buy in the first year of an older home with ageing systems and no savings, and it is nearly always worth accepting when the seller pays.
A standard single-family policy commonly runs $1,000 to $3,000 a year, and the Las Vegas valley sits in the lower half of that range because there is no hurricane exposure and little hail or wildfire risk on the valley floor; rebuild cost, deductible, roof age and claim history move the number more than the price you paid.
Only when it grows out of a sudden covered event such as a burst supply line or a storm-damaged roof, and then commonly only up to a capped endorsement of $5,000 to $10,000; mold from a slow leak, from humidity, from deferred maintenance or from flooding is excluded on nearly every policy.
Raise the deductible, requote the whole market at every renewal rather than only your own carrier, make sure the dwelling limit matches the rebuild cost instead of the sale price, and claim the discounts you already qualify for; what not to do is thin the liability limit or drop coverage you would need after a real loss.
Commonly $400 to $900 a year for a single-family plan, plus a service call fee of commonly $75 to $150 each time a contractor is dispatched, with pool, spa, septic and second-refrigerator coverage priced as add-ons on top of that.
Yes for the supply, drain and waste lines inside the home and under the slab when they fail from normal wear, subject to the plan's cap and its access limits, and commonly no for the sewer line out to the main, the fixtures themselves, anything blamed on a pre-existing condition, and the finish repairs after the pipe is reached.
No, not by any lender, any state law or any standard purchase contract: a home warranty is an optional service contract that one side of a sale can offer and the other can decline, unlike homeowners insurance, which every mortgage lender requires for the life of the loan.
Ask the building department that issued the permit, the only place plans are ever filed: in the valley that is Clark County or the city of Las Vegas, Henderson or North Las Vegas, and because retained residential plans are commonly limited, the builder, the original architect and the assessor's sketch are the usual fallbacks.
Read three things and you have it: the year built on the county assessor's record, the shape and material of the roof, and the shape of the windows, which together sort nearly every Las Vegas valley house into mid-century ranch, stucco Spanish or Mediterranean, 2000s Tuscan, Pueblo and Santa Fe, or desert contemporary.
It stands for homeowners association: the private nonprofit corporation that owns and maintains the shared property in a subdivision or building, enforces the covenants recorded against every lot in it, and bills each owner a share of the cost.
A recurring assessment, usually billed monthly or quarterly, that a homeowners association charges every unit as its allocated share of the annual budget: maintaining what the association owns, insuring it, managing it, and setting money aside for the parts of it that will eventually need replacing.
The mechanical systems and built-in appliances the plan lists, when they fail from normal wear rather than from an event, neglect or a defect that was there before coverage started, and only up to a stated cap per item, with a service call fee due on every visit.
It is arithmetic rather than a verdict: add the annual premium to the service fees of a plausible year, set that against the age and replacement cost of the systems the plan actually covers, then discount the result by the per-item cap and by the clause that lets the company repair instead of replace.
You buy a contract for a term, usually twelve months; when a listed system or appliance stops working from normal wear you open a claim with the company rather than calling a contractor, pay a service call fee for the dispatch, and the company's network contractor diagnoses and repairs the item up to the cap the contract sets for it.
A guide walks a whole process at length and is written about Nevada, because that is where Kouzr operates. A glossary term defines a word. These are the questions in between: national, answerable in a sentence, and worth the page it takes to say why the sentence is true. Where the honest answer needs figures, the figures are ours and the page says which market they are from. Nothing here is legal, tax or lending advice.
