When it comes to owning your own home, there is nothing cheap about it. It seems like there is always maintenance that needs to be done and repairs that need to be taking care of. If you are a first time home buyer, you might be feeling overwhelmed with it all. As you get ready to purchase your own home, you might have found a home that comes with a home warranty. This can help take care of the repairs that pop up in the first few years after buying your home. It is important that you don’t mistake a home warranty for home insurance though. Signet Insurance Group is here to talk about home warranties and home insurance so we can make sure you understand their differences.
What is a Home Warranty?
If you are lucky enough to have found a home that comes with a home warranty, you can rest easy knowing that any repairs you run into that are a result of regular wear and tear, will more than likely be covered by this policy. They also cover your major appliances in case they malfunction in any way. Home warranties are something that many sellers put in the closing costs of the home to help incentivize a buyer.
How Homeowers Insurance is Different Than a Home Warranty
While a home warranty will cover the wear and tear that happens during general use of your home, home insurance is in place to cover any losses that you experience with your home as a result of natural disasters and other damage. All home owners insurance policies are going to look a little bit different as these are incredibly customizable. Some things that are covered under home insurance include:
– Fire & smoke damage
– Weather related damage
– Theft
– Vandalism
– Water damage caused by broken pipes
– Falling objects
– Explosions
– Damage caused by a vehicle
What Isn’t Covered Under Home Insurance
It is important to remember that there are some things that will not be covered by your home insurance policy. For instance, if there is flooding and you do not have flood insurance, your home insurance will not take care of that damage. Likewise, if you experience an earthquake where you live and don’t have an insurance policy to cover it, a regular home insurance usually will not cover any of the damage sustained in that event. You should also know this insurance will not cover any damage that happens as a result of negligence or lack of maintenance.
Home, Business, Life & Auto Insurance Agency in Henderson, North LV, Reno, Spring Valley, Enterprise, Sunrise Manor, Paradise & Las Vegas, NV
If you are looking for the right home insurance for your new home, you can depend on the experts at Signet Insurance Group to help you find the best policy to fit your needs. We will make sure you have ample coverage in the event that you should experience a loss and need to file a claim. Call us today!
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