Whether you are long-time homeowner or a first-time home buyer, having the right home insurance can make a big difference in your security and peace of mind. But what about those offers you’ve received for home warranties? Doesn’t your home insurance cover items like your HVAC system, appliances, and plumbing? The answer is – not always.
- Home Insurance- Your home insurance policy is designed to protect you and your home during unexpected events – like a burglar breaking in or a tree falling on your roof, for example. And there are varying degrees of home insurance and some restrictions that are important for you to know about – like whether you have flood insurance. Your home insurance policy can also cover damages caused by fire or hail; it’s just a matter of knowing what types of situations you need protection from and making sure you have a comprehensive policy.
- Home Warranties- Home warranties cover all the items that you rely on inside your home every day but that may not be covered by your home insurance policy. For example, if your washer and dryer give out in the first month of their use, having a warranty may pay for the repairs and replacement without any hassles on your part. Your HVAC system, plumbing, electrical system, and basic roof repairs may also be included in home warranties.
You’ll find that your home warranties will expire after a certain amount of time, and it will be up to you to determine whether you would like to renew them. Your home insurance policy must also be renewed every year.
At First Security Insurance, we can help you build a home insurance policy that meets your needs. We will also be happy to discuss the difference in coverage between a home warranty and a home insurance policy. Call today to learn more.