Home Warranty
A home warranty is a service contract that provides coverage for certain appliances and systems in a home, such as heating and cooling systems, plumbing, and electrical systems. Home warranties typically provide coverage for items that are not covered by a homeowner's insurance policy, such as wear and tear and mechanical failures.
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In contrast, homeowners insurance is a type of insurance that provides financial protection in the event of damage or loss to a home or personal property due to covered perils, such as fire, theft, or severe weather. Homeowners insurance typically covers the physical structure of the home, personal property, and liability protection in the event of bodily injury or property damage.
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While homeowners insurance covers unexpected events and damage to the home, a home warranty is designed to cover the cost of repairs or replacements for certain home systems and appliances that experience wear and tear over time. Home warranties can be a useful way to manage the cost of unexpected repairs and replacements, especially for older homes or homes with outdated systems and appliances.
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It's important to note that home warranties and homeowners insurance are two separate types of coverage, and homeowners should carefully review the terms and conditions of each to ensure they have the appropriate coverage for their needs. Homeowners should also research the reputation of any home warranty or insurance provider before purchasing coverage to ensure they are working with a reputable company.