Some home service plans not only help fix problems when they occur, but also help prevent problems from happening in the first place with regular maintenance services. (Credit: William Potter/Shutterstock)
Many homeowners and homebuyers do not know the difference between home insurance and home service plans (aka home protection plans or home warranties). In fact, only 30% of homeowners are confident they understand what their home insurance policy covers, according to a 2020 survey from Plymouth Rock. It's understandable, because, on the surface, they seem to do the same thing: Protect policyholders from paying excessive out-of-pocket expenses when things go wrong with their home.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
