| Actual Cash Value (n.): |
A numerical representation equaling the cost of repair of damaged property, minus depreciation; standard to most home warranties. |
| Add-on item (n.): |
Household appliances and systems that are not covered under a provider’s plans – but can be added onto a policy for a subsequent sum of money, usually an insubstantial amount. |
| Air conditioner (n.): |
A system or device for controlling air temperature and quality. It can be a stand alone unit or an implemented system in a freestanding structure. |
| Air Duct (n.): |
Conduit pipelines for carrying warm or cool air in and out of rooms and back to a furnace (or air conditioner). |
| Annual Fuel Utilization Efficiency: (AFUE) (n.) |
Metric used to measure a gas furnace’s efficiency at converting fuel to energy. Higher measurements indicate maximum efficiency. |
| Appliance (n.): |
A household machine, unit or component which is used to help support household functioning and/or chores. Examples include washing machines, dryers, heaters, air conditioners, dishwashers, etc. |
| Appraisal (n.): |
An estimate of value or damage, depending on the purpose of the inquest. |
| Assessment (n.): |
An amount of worth, determined as payable to the Assessor. |
| Assignment (n.): |
The transfer of a home appliance warranty contract from one owner to another. See also: transferability. |
| Auto dry (v.): |
Dryer feature which uses a metric to determine dryness of load and automatically shuts off the dryer, saving energy and contributing to your clothing’s lifespan. |
| Authorized factory outlet (n.): |
Manufacturer-approved retailer selected to handle products that aren’t moving, are discontinued, destroyed or are returns. |
| Balance (n.): |
Weight distribution of the wash cycle to keep your load balanced and take a proactive approach to the lengthening lifespan of your washing machine. |
| Bib, bibcock (n.): |
Water faucet design to support hose attachment. |
| Breakdown (n.): |
The malfunction or failure of an item covered in a home warranty plan to operate as it is supposed to. |
| Building Code (n.): |
A law dictating standards that must be observed in the constructing of new buildings with special regard to materials used and overall quality. Hence, licensed contractors are the best bet in order to avoid code violations. |
| Claim: (n.): |
A request for monies paid out on a loss by the covered parties under a home warranty plan (or for service). |
| Closing cost (n.): |
Additional expenses accrued in the transfer of ownership of property. |
| Common System (n.): |
Household systems shared by multiple units; they are usually in a development and usually not disqualified from home warranty coverage for this reason. |
| Control type (adj.): |
Describes the type of programming of your appliances: electronic appliances generally have digital touch pads while the manual type generally has a pushbutton selection. |
| Cooktop (adj.): |
Cooking surface installed on countertops. |
| Conditions (n.): |
The governing rules and stipulations within an agreement or contract. |
| Damp dry (n.): |
Dryer cycle that leaves clothing partially damp. |
| Deductible (n.): |
A flat fee the covered party has agreed in advance to pay when filing a claim. |
| Depreciation (n.): |
A decline in the worth of items or property over time. |
| Downdraft exhaust (n.): |
Fan system implemented on cook tops which funnels odors and smoke out into the exterior of a home through a ventilation system, similar to a range hood. |
| Effective Date (n.): |
The day that home warranty coverage begins. |
| Endorsement (n.): |
An addition to a contract that modifies it in some way; in some cases, it may be related to an increase or a decrease in the amount of coverage in a policy. |
| Energy Efficient Rating (n.) [EER]: |
The established metric for calculating operating cost (EnergyGuide Label); great for appliance comparison shopping. |
| Exclusion (n.): |
A documented omission in the terms and conditions of a home warranty. |
| Expiration Date (n.): |
The date that the home warranty policy coverage expires. |
| Filter (n.): |
Sieve that collects debris in washing machines, dryers and dishwashers and aids in preventing them from being recirculated among the items in the load. |
| Frost-free (adj.): |
Freezer that is implemented with intelligence to recognize frost buildup and eradicate it. Includes built-in heater to serve this function. |
| Fuse (n.): |
Electrical device consisting of a strip of metal which interrupts the circuit when the current overloads. |
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