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You may have seen advertisements for home warranties or received one when you bought your house in Portland, OR. A home warranty may be beneficial in some situations, but it differs significantly from a home insurance policy.
Home Warranties
You can purchase a home warranty for almost any house you own. It typically covers mechanical failure of a wide range of appliances and some built-in systems, such as furnaces or water heaters. Be sure to read the fine print, as there are often numerous exceptions and limitations.
Construction companies frequently provide a similar type of warranty at no extra cost when a new house is built. This warranty might cover large appliances, built-in systems, and even the home’s structure. This type of warranty primarily covers issues arising from construction mistakes and defects, not accidents or natural disasters.
Home Insurance
Home insurance protects you against financial losses related to fire, theft, vandalism, and certain types of weather damage. Unlike a warranty, it is often mandatory for mortgage borrowers. Home insurance includes liability coverage and may cover the entire worth of the house, not just certain parts of it.
Comparison
While insurance and warranties cover some of the same items, they primarily cover different perils. For instance, both may cover appliances, but insurance will replace equipment destroyed in a fire, while a warranty will repair appliances that fail due to mechanical issues.
Homeowners insurance is vital, whether or not you possess a home warranty. Einstein Insurance can assist Portland, OR residents in finding reliable policies that meet their specific requirements. Our independent agency offers coverage from various top insurers. Please call or contact Einstein Insurance for a free quote and answers to any questions you may have.
