Since both home warranties and home insurance exist to protect your home, many people are confused about how they are different. Here’s what you should know.
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Today, I'm joined by Robin DiPasquale, an accounting executive with Home Warranty of America.
Tell us, what is the difference between home insurance and a home warranty?
A home warranty is meant to be a safety net for your home. We want to make sure your main systems are covered, such as plumbing, electrical appliances, and cooling and heating. During the time that you own the home, we want to do everything we can to put your mind at ease should something break or need repair.
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Home insurance is meant for those major instances within the home, such as flooding, or other unexpected mishaps and disasters.
A home warranty is meant to be a safety net for your home.
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How much does a home warranty cost?
On average it's about $500, based on our plans. The only other cost to you would be for every time a vendor comes to your home for a specific claim or repair, there is a designated service fee, which is usually around $75 per one claim. This means that you only pay that one fee for a specific repair, no matter how many visits it takes to complete.
What is covered under a home warranty?
We cover the main systems in your home, like your air conditioning, furnace, appliances, and so on. If you add on additional items such as a pool, we would cover that as well.
If I suspect one of my units isn’t working properly, what do I do next?
So what you’re going to want to do is call our customer service number that is given to you in your contract once you close. Let them know what’s going on with your specific issue; they will then connect you with an insured, vetted vendor in our system. The vendor will have 24 hours to contact you and make an appointment at your convenience to come and start the repair process.
If you need to contact Robin for more information or any questions about this topic, please call (214) 417-9805. If you have any questions for me, don't hesitate to reach out to me. I'd be happy to help.
