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Do seniors need home warranties?
For many American seniors and older adults, every financial decision needs to be carefully weighed against cost and benefit. With millions heavily dependent on Social Security and limited retirement savings, a wrong purchase or bad investment could be detrimental for their financial health. That’s why it’s critical to carefully weigh the pros and cons of any new service or product before buying in.
Home warranties, for example, which help cover the cost of repairs (and possible replacements) of a wide variety of home appliances, are worth exploring right now. With the price of a home warranty often less than $100 per month, the service can pay for itself in just a few visits from an experienced technician. But are they worth buying for seniors? Or is it more cost-effective to wait for an emergency to arise? That’s what we will break down below.
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Do seniors need home warranties?
Here are four reasons why seniors may want to consider a home warranty plan now:
Your budget may be limited
Unless you were able to save a substantial amount of money during your working years or have no bills to pay each month, your budget is likely limited with little room left for experimentation. And with a looming cut to Social Security and retirement savings that will only last so long, it makes sense to lock in the protection a home warranty can provide.
Simply ask yourself if you could afford to pay hundreds or possibly thousands of dollars to fix or replace an aging or broken appliance right now. If the only way you could do so is by swiping your credit card (which comes with double-digit interest rates right now), then you’re likely better served by buying a home warranty.
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Your ability to complete repairs is limited
As you age, your ability to make repairs and replace broken items and appliances will wane. And with appliance technology constantly evolving, it can be hard to keep informed on what’s needed and what isn’t. But if you lock in a home warranty plan now you won’t have to worry about fixing a broken dishwasher or hauling out an old, broken-down refrigerator. A licensed technician can make these repairs and replacements for you, allowing you to focus on more important items in your golden years.
Costs are already high
You don’t have to pay close attention to the news to know that costs for many common items are already high. Inflation hit its highest point in decades in June 2022 and although it’s dropped significantly since, it’s been rising again in the opening months of 2024. Combined with higher interest rates that have made the cost of borrowing surge, you may simply not have enough leftover to cover major repairs and appliance replacements in today’s economy.
Peace of mind is priceless
As trite as it may sound, you truly can’t put a price tag on peace of mind. And that is arguably the best value a home warranty plan can provide. By knowing you have the protection for your appliances and home in place, you can rest easy knowing that any future repairs won’t debilitate your finances.
You won’t have to worry about the quality of the service, either, as home warranty providers will serve you with experienced and knowledgeable technicians who can quickly diagnose issues and fix them, often on the same day. This peace of mind, while desirable at a younger age, is vital for seniors. So don’t let the opportunity to secure it pass by.
Learn more about your home warranty options online today.
The bottom line
Although seniors should be judicious with how they spend their money and what they spend it on, there’s a compelling argument for buying a home warranty plan now. With limitations in budget and the ability to make repairs on your own, a home warranty could help bridge both gaps. And with everyday costs already high thanks to inflation and elevated interest rates, the peace of mind a home warranty can provide is particularly attractive right now. Just be sure to shop around to find the best combination of protection and cost for your unique circumstances.
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Spain sends research vessel to scan seafloor for Valencia victims as flash floods hit different region
Barcelona — A Spanish research vessel that investigates marine ecosystems has been abruptly diverted from its usual task to take on a new job: Helping in the increasingly desperate search for the missing from Spain’s deadly floods. As the dire work continued in the eastern province of Valencia to find the victims of the disaster and clean up the mess left behind, more torrential rain unleashed flash floods farther north along the coast, near Girona.
The 24 crew members aboard the Ramón Margalef were preparing Friday to use its sensors and submergible robot to map an offshore area of about 14 square miles — the equivalent of more than 5,000 soccer fields — to see if they can locate vehicles that last week’s catastrophic floods swept into the Mediterranean Sea.
The hope is that a map of sunken vehicles could lead to the recovery of bodies. Nearly 100 people have been officially declared missing, and authorities admit that is likely more people are unaccounted for, in addition to more than 200 declared dead.
But the severe weather was still causing problems further north in the Catalonia province, where heavy rain triggered severe flash floods Friday in the town of Cadaques, sweeping dozens of cars that had been parked in a normally dry riverbed through the town and piling them up against a bridge, creating a blockage that worsened the flooding in the town.
There were no reports immediate reports of casualties or major structural damage, according to the Reuters news agency.
Pablo Carrera, the marine biologist leading the Ramón Margalef mission off Valencia’s coast estimated that in 10 days his team would be able to hand over useful information to police and emergency services. Without a map, he said, it would be practically impossible for police to carry out an effective and systematic recovery operation to reach vehicles that ended up on the seabed.
“It would be like finding a needle in a haystack,” Carrera told The Associated Press by phone.
Many cars became death traps when the tsunami-like flooding hit on Oct. 29.
The boat will join a wider effort by police and soldiers who have expanded their searches for bodies and the missing beyond the devastated towns and streets. Searchers have used poles to probe into layers of mud while sniffer dogs tried to find scent traces of bodies buried in canal banks and fields. They are also looking at beaches that line the coast.
The first area the Ramón Margalef is searching is the stretch of sea off the Albufera wetlands, where at least some of the water ended up after ripping through villages and the southern outskirts of Valencia city.
Spanish state broadcaster said Friday that the body of one woman had been found on the beach after she went missing when the rushing water swept through her town of Pedralba, roughly an hour’s drive from the coast.
Carrera, 60, is head of the fleet of the research vessels run by the Spanish Institute of Oceanography, a government-funded science center under the umbrella of the Spanish National Research Council.
He boarded the Ramón Margalef in Alicante, located on Spain’s south coast, from where it will set sail to reach Valencia’s waters before dawn Saturday. The plan is to go straight to work with the 10 scientists and technicians and 14 sailors working non-stop in shifts. The boat also helped research the impact from the lava flow that reached the sea from the 2021 La Palma volcano eruption in Spain’s Canary Islands.
Finding a body at sea, Carrera said, is highly unlikely. So the focus is on large objects that shouldn’t be there.
The boat’s submergible robot loaded with cameras can dive to a depth of 60 meters to attempt to identify cars. Ideally, they will try to locate license plates, although visibility could be extremely limited and the cars could be smashed to bits or engulfed in the muck, Carrera said.
In the longer term, he said his team will also evaluate the impact of the flood runoff on the marine ecosystem.
Those findings will contribute to initiatives by other Spanish research centers to study Spain’s deadliest floods of the century.
Spain is used to the occasional deadly flood produced by autumn storms. But the drought that has hit the country for the past two years and record hot temperatures helped magnify these floods, scientists say.
Spain’s meteorological agency said that the 30.4 inches of rain that fell in one hour in the Valencian town of Turis is an all-time national record.
“We have never seen an autumn storm of this intensity,” Carrera said. “We cannot stop climate change, so we have to prepare for its effects.”
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