No, not exactly. Homeowners insurance and a home warranty are both valuable, but for different purposes. Your homeowners insurance is hazard insurance and covers items damaged in fires by wind or other covered events. A home warranty repairs or replaces items that break down on their own through normal wear and tear. A home warranty typically covers items like the plumbing system, water heater, HVAC, electrical system, garage door opener, and household appliances, to name just a few.