Most Mt Pleasant homeowners have home insurance but many don't have a home warranty or understand the difference between the two. A home warranty is not insurance at all. However it fills in some gaps that the home insurance policy won't cover.
A home insurance policy has a variety of coverage's the primary ones being coverage for the physical residence, personal property, liability, medical payments and loss of use. These would kick in if a catastrophic or severe event occurred such as a fire, burglary or heavy winds. It does not cover the mechanical breakdown of items within the home.
A home warranty provides protection for larger ticket items within the home such as appliances, air conditioning or heating units, plumbing, electrical equipment and more depending on the specific policy and the coverage's purchased. It can even be possible to get coverage for a pool or spa which can be very expensive if something goes out. The breakdown on a warranty does not have to be due to a specific peril such as a fire. Warranties are often obtained in conjunction with the purchase of a home. Since the new homeowner doesn't know how items have been maintained or truly what condition the appliances and other covered objects are truly in, it can be a wise choice. Particularly after having the expense of a home purchase and the related move it's not a time that people want to deal with having to unexpectedly replace the air conditioning unit.
The homeowner will typically have to pay a service fee every time the warranty is used. However it's generally not more than $100. This can be a great savings. The warranty will then pay to repair the item and if the problem is severe enough even replace it. By and large because a home insurance policy and a home warranty policy cover different items under different circumstances it really makes sense to carry each policy.