Does Having a Home Warranty Lower My Home Insurance Premiums?

Typically, when you purchase a new home, or a new to you home, you receive some warranty with the home. This may leave you wondering whether your home insurance premium should be lower. Here is some information you should know.

Home warranties and homeowners insurance do not cover the same thing. Home warranties often supplement your home insurance policy and cover items that are not typically covered under home insurance plans. These items typically cover items that may suddenly go out due to age or lack of maintenance, things home insurance does not cover. Likewise, home warranties do not cover items that home insurance does. If your home is robbed or someone slips and falls on your property, a home warranty will not do you a bit of good and cannot help you.

Because home warranties and homeowners insurance policies do not cover the same thing, it is not likely that you will be given any discount on your home insurance premiums because you have a home warranty. However, every insurance company is different and what they discount may vary. As such, it never hurts to inquire as to whether you can receive a discount for this or not.

Are you looking to change your home insurance policy or possibly lower your premiums? Then give Compass Insurance, serving the greater Centennial, CO area a call today. We can take a look at your current policy and find any places you can lower your payment or alter your policy, while still ensuring you are protected against loss. Give us a call to get started today.