Home Warranty Vs. Home Insurance: What's The Difference?

​Buying a property is the most noteworthy investment you will make. It is necessary to safeguard your assets. Getting homeowners insurance coverage and a home warranty plan. Let's look at how a house warranty differs from home insurance.

What is a home warranty?
A house warranty protects your home's internal components from physical damage. It enables you to pay a flat fee for repairs to your appliances, plumbing, or electrical systems. Typically, it lasts a year and costs between $300 and $600 per year (according to Consumer Affairs).

What does a home warranty cover?
A home warranty covers home appliances, electrical, plumbing systems, and HVAC units. The covers depend on the type of policy you purchase. Most companies provide several plans for complete customization, allowing you to cover only your appliances or only your internal systems (or both).

Home warranty pros and cons
Although home warranties help to reduce extraneous repair costs, they do not cover everything. Review the following to help you decide if a home warranty is right for you:

Home warranty pros:

• Allows you to pay a single flat fee for each repair appointment
• Schedule repairs for you by automating the appointment process
• Allows you to choose your service provider, but can also choose one for you

Home warranty cons:

• Repairs for normal wear and tear are only covered
• Will not cover damage to other parts caused by faulty appliances
• Doesn't cover the structure, your personal belongings, or your liability
• A yearly premium is required

What is home insurance?
Home insurance is a required policy that protects your home's structure, belongings, and liability from damage caused by covered perils. However, home insurance does not cover everything. Any damage to your appliances caused by aging is your responsibility to repair.

Conclusion
Home insurance coverage may still have gaps. If you want to avoid financial surprises, you may want to consider additional coverage options, such as a home warranty. It will be best to purchase both policies to protect your property and wallet.

At Black And Associates Insurance, Inc., we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (509) 464-0058. Get your free quote today by CLICKING HERE. Any coverage discussed is not guaranteed. Contact us today to go over your specific needs and we are happy to help you find a policy that works for you and your budget!