Definition
Home warranty is a service plan covering repair/replacement of major systems and appliances. It's not insurance but a contractual coverage agreement.
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Home warranties cover systems like HVAC, plumbing, electrical, and appliances. Not insurance but contractual coverage. Limits apply to each system.
Pro Tip
Home warranties are inexpensive and helpful for older homes or systems.
Example
Home warranty covering furnace, air conditioner, electrical panel, and appliances with $60 service call fee.