Home Warranty v/s Home Owner's Insurrance

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Home Warranty
Home Insurance

• Prepared by HomeWarrantyReviews.com

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What is Home Insurance?

• Also called Homeowners Insurance is a form of
  property insurance that protects a private
  residence.
• It is a multiple line insurance that covers
  property and liability.
• In the event of a damage, home insurance provides
  discounted repairs and replacements

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What does Home Insurance cover?

• Home insurance covers damages to structural and
  household components happening due to any of the
  following reasons
• Theft, vandalism, similar crimes
• Earthquakes, floods or other natural hazards
• Other select perils like fires
• Home insurance is suitable for homeowners with
  new homes or with mortgages on their homes.

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What is Home Warranty

• Home Warranty is a service contract that agrees
  to provide the homeowner with discounted repairs
  and replacements of household appliances and
  systems.
• Home Warranty plans do not cover liabilities of
  any kind. They simply provide budget protection
• Typical appliance warranty plans omit damages
  caused due to insufficient maintenance, crimes,
  hazards or natural disasters and pre-existing
  conditions.

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What does Home Warranty cover?

• Home Warranty covers appliances and systems in a
  household which become damaged due to regular
  wear and tear. Typically this plan covers
• HVAC systems
• Kitchen and general appliances
• Select other household items
• Home warranty is ideally suited for homes older
  than 4 years

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Differences
Home Insurance Insures home against natural disasters and crimes Mandatory for homes with mortgages Covers- Structural components Personal belongings Liabilities Home Warranty Service contract for covering appliances and systems alone Suitable for homes with ageing components Covers- Appliance/system repairs Plumbing faults Electrical faults
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