home warranty & home insurance

Asked by Noamofan, New York, NY Wed Mar 14, 2012

is there a difference btw these two? and if so, what is it and do you aleays need both?

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Jeff Wallenf…, , Las Vegas, NV
Wed Mar 14, 2012
Hi Noam!

These are two very different things. Homeowners insurance covers your home for theft, fire, and other "disasters." If you have a mortgage, your lender will require you to have it. Frankly, unless you can afford to replace your home and everything in it, you need it! You can generally purchase additional coverage for floods and earthquakes -- both are usually excluded from standard policies.

A home warranty, on the other hand, covers when everyday things break: the air conditioner stops working; the hot water heater starts to leak; the stove dies. Check your policy, because some policies cover more than others. For a small co-pay, the home warranty company will send a trained technician to your home to fix it. You don't *have to* have one, but I recommend one for all my clients (sellers coverage is available too). They usually pay for themselves in the first couple months you own the home!
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Rena Levy, Agent, Las Vegas, NV
Wed Mar 14, 2012
Hi Noam,
home warranty is a warranty service that coveres most frequently occurring breakdowns of home system mechanical components and appliances.
Homeowners insurance covers personal belongings and the entire house in case of burglary or natural disaster such as fire, lightning, tree fall etc., but it does not cover regular maintenance and replacement costs of appliances, and that is where home warranty coverage picks up. Home warranty is a wear and tear insurance against equipments and appliances such as heater, A.C. unit, plumbing and electrical systems.

Most companies have diffrent types of basic plans and upgraded plans ranging from $ 300 and up for basic plan with a co-pay of $ 50 and up per call.

I will be happy to send you some samples of warranty plans. Please call me at 702-612-7099

Rena Levy
Realty Executives of Nevada
Web Reference:  http://www.cvegashomes.com
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Jeff & Kelly…, , Las Vegas, NV
Wed Mar 14, 2012
Hi Noam. A Home Warrantee covers the systems of the home - like A/c units - for a year. Who pays for it can be negotiable depending on who the seller is (banks won't pay).
The homeowners insurance covers the structure of the home from fire, flood, etc. The Homeowners insurance you must have per the lender. You can get a discount by using the same company that has your car insurance.
Prudential Americana
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Stephen A. B…, Agent, Horseheads, NY
Wed Mar 14, 2012
Title insurance covers any clouds or liens against the property and the home warranty covers any or all physical damages on the property now and in the future.
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Hank Lauzon, Agent, Las Vegas, NV
Wed Mar 14, 2012
Hi,...The Home Warranty will cover the inner workings of your home....Plumbing,...Electrical....AC/Heat. They usually have options available for the pool and appliances. The Home insurance is geared more towards damages from fire, wind, flood options,.....etc......

If your house is funded,....the lender usually requires home insurance,...
A Home warranty is more of a personal preference....Some people love them and others could care less.

I closed on a home last summer,...the temp was about 113 on the day that the buyers were moving in,...the AC died. The home warranty company was there right away to take care of it and the buyer was very thankful that he had gotten it.

I have some great companies that I work with,....feel free to give me a call...!!

Hank Lauzon III

Exit Las Vegas Realty Center
6600 W. Charleston #119
Las Vegas, Nv 89146

Cell 702-449-0899
Office 702-949-2409
Fax 702-543-6844

Web : http://www.HanksLVRealestate.com

Email HankLVRealestate@aol.com

Never look down on anybody...unless you're helping them up.
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