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Homeowners warranty insurance, commonly known as a home warranty, is a service contract that covers repairs or replacements of major home systems and appliances due to wear and tear. It differs ...
🏡 Generally, a home warranty won’t cover damage caused by the homeowner, including damage due to lack of maintenance, like failing to replace a filter. The policy typically doesn’t cover a ...
However, the words "home warranty" are not always used explicitly to mean a legal warranty is being conveyed. In many cases, at least in the United States, a home warranty is not a warranty at all, but rather a home service contract that covers the repair and/or replacement costs of home appliances , major systems such as heating and cooling ...
A home warranty protects against the costs of home and appliance repair by offering home warranty coverage for houses, townhomes, condominiums, mobile homes, and new construction homes. When a problem occurs with a covered appliance or mechanical system such as an air conditioning unit or furnace, a service technician repairs or replaces it ...
Now that you know the difference between an HO-3 and an HO-5 policy, let’s delve deeper into insurance perils. To recap: a peril is a cause of damage like a fire, windstorm or theft.
Home insurance in the United States may differ from other countries; for example, in Britain, subsidence and subsequent foundation failure is usually covered under an insurance policy. [7] United States insurance companies used to offer foundation insurance, which was reduced to coverage for damage due to leaks, and finally eliminated ...
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