home warranty vs home insurance

Home Insurance vs. Home Warranty

Home warranty and home insurance are terms many people use interchangeably. However, both have very different meanings from one another. A home warranty offers coverage for the repair and replacement of major appliances and systems in the home. Usually warranties last for one year or more and can possibly be renewed afterwards. A typical homeowners insurance policy provides financial protection in the event of an accident or disaster happening to the home.

It’s worth mentioning that home insurance and home warranty are both important tools that play a crucial role in reducing financial burden. However, both tools play very different roles for homeowners.

In this article we will talk about home insurance vs. home warranty and why you need it.

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mold damage

Does Homeowners Insurance Cover Mold Damage?

Dealing with mold can be quite a headache for any homeowner. The damage it can cause can be quite extensive and can cost hundreds of thousands of dollars in repairs. Not to mention, it can be extremely detrimental to you or your family’s health.

In fact, there’s several types of mold and some are more dangerous than others. Mold can grow more rapidly in your home due to warmer climates or water damage. Ultimately, the best way to avoid this stressful situation is to regularly clean your home and monitor it for any water damage. However, we can’t always prevent disasters from striking.

In this article we will discuss whether or not mold is covered under your homeowners insurance policy.

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hurricane damage

Was Your Home Damaged From Hurricane Ida?

Hurricane Ida has proven to be one of the most disastrous hurricanes in the past few years. The Consumer Federation of America pointed out that the National Flood Insurance Program and private insurers will pay for the damages. More specifically, the damage will cost insurers an estimated $31 billion.

If your home was one of the many to fall victim to the hurricane, you should be filing a claim with your homeowners insurance. As long as you have insurance coverage, you won’t have to cover the expenses yourself. However, no private insurance company has a policy for flood damage, as that is something that the NFIP covers.

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Can My Credit Score Affect My Homeowners Insurance Rate?

The companies that make a profit from your “history with money” will dig up your credit score one way or another. If your ratings in particular areas are good, you get plenty of benefits. However, if one of these records is in poor shape or is unsatisfactory, it becomes challenging to invest in property, buy a car, or even find a reasonable insurance policy.

Your credit score rating will dictate a lot of the decisions you make and your purchases. In fact, it can even affect the rates you pay on your insurance.

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What to Do if Your Insurer Won’t Renew Your Homeowners Policy

Over the past few months there’s been an increase in homeowners policies not being renewed. This is because many insurance companies have steered clear of high risk areas. While many Californians struggle to find the right coverage, a large group of Floridians have to deal with nonrenewals amidst hurricane season.

Since hurricane and wildfire season is here, having the right coverage is more important than ever for your home’s safety. But what if your insurer refuses to renew your homeowners insurance policy? Here are some options if you find yourself in this situation.

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6 Tips to Lower Your Homeowners Insurance Rates

Do you own a property? If yes, then you must know that homeowners insurance is one expense you can’t avoid. The two important factors that decide the cost of home insurance rates are your home’s age and its location. However, the average insurance premium for homes is $1,192.

It may seem like a big expense, but keep in mind that you get the amount reimbursed if your property suffers any damages. That means having homeowners insurance is one way to protect your most valuable investment. Moreover, lenders or mortgage companies also require homeowners to buy homeowner insurance.

Regardless of the type of homeowners insurance you opt for, you need to ensure that you get the best policy for an affordable price. Here are a few tips to decrease your homeowners insurance rate.

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computer fire

How to Prevent Your Desktop or Laptop Fire From Burning Down Your House

Who would think that a laptop could catch fire? The statistics are pretty surprising.

In 2007-2011, there were an estimated 730 reported U.S. home structure fires involving office equipment per year, resulting in:

  • 11 civilian deaths per year
  • 51 civilian injuries per year
  • $28 million in direct property damage per year

Forty-eight percent of the time, a computer was the cause of the fire. So, what causes the fires?

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What Does a Typical Homeowners Insurance Policy Cover?

Your home is probably one of the largest investments you’ll make in your life. Homeownership comes with many benefits, not to mention the pride of owning your own house. However, there are some more complicated aspects of being a homeowner. One of those things is buying home insurance. You might be wondering what exactly homeowners insurance covers and how it protects your home. We’ll go over five different areas that a homeowners insurance policy covers and explain how it protects your home.

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call your insurance agent to see if you can get insurance discounts

15 Common Homeowner’s Insurance Discounts to Ask Your Agent About

Being a homeowner can be hard work. There’s a lot to think about – what color to paint the walls, how to arrange the furniture in the family room, what kind of light fixtures to put in the hallways…and then, of course, there’s home insurance. If you’re going through the process of buying home insurance, you might be holding your breath and bracing yourself for the cost.

But we’ve got good news: you can save money on your home insurance.

There are these magical things called discounts that can knock the price of your homeowner’s insurance down. We’re going to explain about 15 home insurance discounts to ask about.

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