What is home protection insurance?

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Mortgage protection insurance (MPI) is a type of life insurance designed to pay off your mortgage if you were to pass away — and some policies also cover mortgage payments (usually for a limited period of time) if you become disabled.

Are warranties insurance?

Warranty — (1) A guarantee of the performance of a product. Product warranties are included within the definition of the named insured’s product in general liability policies. (2) A statement of fact given to an insurer by the insured concerning the insured risk which, if untrue, will void the policy.

What is the difference between warranty and insurance?

In general, warranties cover breakdowns and manufacturers’ defects on your vehicle – but not wear and tear. Insurance policies, on the other hand, cover damage caused to other property or people (at the most basic level) and all vehicle damage (at the comprehensive level).