Is home warranty an insurance? Not Quite
AJC has posted an informative article about the limitations of home warranty. Author has also tried to explain the mistakes home warranty buyers make before and after buying home warranty.
Because home warranty companies are not considered insurance companies, their claims-handling conduct is not audited by regulators, nor do they face nearly as much government scrutiny. So, state regulatory agencies do not regulate home warranty companies as much as they do with other insurance companies.
Although warranties aren’t considered insurance, most of the state insurance commissions and attorney general offices, do accept consumer complains and take action. Home warranty companies are not regulated.
Read the complete article here – Home warranty companies are not created equal
Article source: Home Warranty Protection
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I have not had any problems with my home warranty, although it does help to realize that in most cases claims will be handled a little differently than they would be by an insurance company. I highly recommend you get a warranty, regardless of your circumstances, though.
[...] Is home warranty really an isnurance? – Not necessarily. This articles explains why you cannot bank on home warranty for all your repair and replacement needs. [...]