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You have to carry home owner’s insurance when you have a mortgage, but a home warranty is something you might want. Home insurance typically covers accidental damage, not normal wear and tear. That can leave you facing some big expenses when uncovered systems or home repairs crop up. Here are a few major issues that a home warranty covers when your insurance doesn’t.
Leaky Pipe Repairs
Most insurance policies will cover a sudden and unexpected leak, but not a small and persistent issue. Even with coverage, insurance policies do not include the cost of the repair in most cases. So, you’ll get covered for the damage but not the repair costs. A home warranty covers the repair, so you can stop the damage from a major leak or a minor one.
Appliances
If your stove or fridge goes up, your homeowner’s insurance won’t pay out a dime. A home warranty company like Select Home Warranty can help with the replacement cost. Appliances can be very expensive to replace when you aren’t expecting to. Check out our Select Home Warranty reviews to learn more.
HVAC Units and Systems
Your insurance company might help cover the damage from a malfunctioning system, but if you want cool air in the summer and heat in the winter, you’ll need to pay for a repair. With a home warranty, your HVAC system is covered so you don’t need to worry about the unexpected expense.
Roof Leaks and Repairs
The cause of a roof leak can determine whether or not your homeowner’s insurance will pay for repairs. If the roof leak happens after a hail storm or due to wind damage, you’re likely covered. If the roof leak happens because the roof is old or due to an earthquake, you will likely be out of pocket unless you have a home warranty.
Electrical Systems
Bad outlets can lead to house fires, but your insurance company doesn’t help with the cost of those repairs. Your policy probably won’t help with any electrical systems until they cause damage. If you notice an issue before you have a fire, your home warranty can help. A claim with your home warranty provider could get you new wiring and outlets. It all depends on the damage that turns up during the inspection.
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