Home Insurance Vs. Warranty

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One component of homeownership is home insurance. Like car insurance, there are many types of coverage. Mortgage lenders will require some level of home insurance while you have a loan in place. Otherwise, it’s not required, however we highly recommend protecting your investment. Home warranties usually apply to large ticket items such as appliances and the systems of the house and are an optional coverage for homeowners, usually purchased at closing. Many companies specialize in these warranties and also offer a variety of coverage.

Insurance plans cover many incidents like burglary, fire, wind, and other damage to some types of personal items and repair costs. Homeowner warranties are specific to certain appliances, hot water heaters and other systems in the home. These warranties help in fixing or replacing these items when they malfunction.

Both insurance and warranties come with fine print outlining the extent of the coverage. There are many companies for both types of plans. Please let us know how we can help in finding the right combination for you needs.