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Having a good homeowners insurance policy is an essential part of owning a home. However, some people may get their homeowners insurance confused with their home warranty. These two documents are both important, but they are also very different. While they may seen similar on the surface, when you really delve into what each one covers, you will find that they are nothing alike.
Home Warranty
Home warranties are usually purchased when someone buys a home. This policy is usually paid for at closing, and it protects the homeowner from failures of the major appliances and home systems. Usually the home warranty lasts for a year or two and keeps new homeowners from being responsible for expensive problems with appliances, plumbing, and other household systems that occur not too long after they move in the home.
Homeowners Insurance
Homeowners insurance policies cover damage to the home due to fire, theft, or storms. If a tree falls on the home, a storm destroys the roof, or someone steals things from your house, the homeowners insurance will pay for repairing or replacing things. However, most homeowners policies do not cover flood damage unless you have specifically paid for flood insurance. Homeowners insurance will not pay for replacing or repairing your major appliances or systems of the home if they fail due to routine problems, like wear and tear. However, if they are damaged by a storm or fire, homeowners insurance will most likely replace them. Homeowners insurance can also protect you from a lawsuit if someone is injured at your home.
If you have questions about insurance in Las Vegas, Nevada and the surrounding area, contact All Nevada Insurance today!
