6 Best Home Warranty Companies in Thompson, CT

How Does a Home Warranty Work?

A home warranty is a protection plan that helps lower expenses for Thompson homeowners needing appliance and system repairs. These plans provide coverage to repair or replace appliances and systems that break due to normal wear and tear.

Homeowners file a claim and pay a service fee when something breaks. The home warranty company then finds a contractor to make the fix or replacement. The only time you may pay out-of-pocket is if the repair or replacement costs go over the item's coverage limit. A home warranty delivers peace of mind for homeowners by helping them avoid expensive emergency fixes. They're particularly valuable for those who live in older homes or ones with outdated systems. Newer builds with working appliances probably don’t require a home warranty.

What Does a Home Warranty Cover?

Home warranties protect your home's systems and appliances. Typical covered appliances include microwaves, garbage disposals, dryers, washers, dishwashers, refrigerators, and more. Covered systems include air conditioning, heating, plumbing, and electrical. Various home warranty plans offer extra coverage for septic systems, roof leaks, central vacuums, and even locksmiths. It's important for Thompson homeowners to know that most home warranty policies have a 30-day waiting period before they will cover the cost of any repairs. Additionally, most policies only cover repairs and replacements needed due to normal wear and tear. Home warranties don't cover things like natural disasters, pre-existing conditions, cosmetic issues, or misuse of a system or appliance. You need to keep up with preventative maintenance to ensure that your next repair or replacement is covered by your policy.

Key Home Warranty Terms to Know

There are a number of home warranty terms to understand before signing an agreement, including:

• Deductible: The amount you're responsible for before your warranty covers the remainder of the cost. Deductibles apply to covered repairs and may be on a per-claim or yearly basis.
• Trade call fee: An additional fee that's sometimes required to appliance-related claims.
• Service fee: The out-of-pocket cost you pay per claim for access to a contractor and repair coverage.
• Coverage limits: Dollar limits that cap how much the warranty will pay for certain repairs or replacements. Check limits on air conditioning units, appliances, roof leaks, and similar repairs.
• Contract rate: A pre-negotiated rate that your home warranty provider has worked out with contractors. This rate is typically less than what you would pay retail.
• Claim approval: The process by which your provider determines whether a requested repair or replacement is covered under your warranty.
• Endorsements: Optional add-ons that expand coverage for additional systems like septic, pools, well pumps, and more. Endorsements typically cost an additional fee.

Keeping these terms and key points in mind will help you understand home warranty contracts and pricing, so you can pick the right plan and protect your most important home systems. Be sure to discuss coverage details with potential providers when getting a quote, so you can avoid surprise fees.

Key Factors in Choosing a Home Warranty Company

There are several important factors to consider when selecting a home warranty provider:

Coverage Options

Home warranty policies vary widely in what they include. Most plans provide protection for plumbing, heating, electrical, AC, and appliances. More inclusive options also extend protection to other items such as well pumps, roof leaks, pools, and spas. Look for providers with a range of coverage choices, such as upgraded plans. You'll want to tailor your protection for your needs.

Service Fees

Expect to pay a per-service fee of $60-100 for each home warranty claim. With these per-request costs adding up over time as you file claims, some homeowners prefer to choose a provider with more affordable fees to maximize savings on every claim. Some companies also eliminate deductibles for homeowners who don't file claims in a certain period.

Reputation

A home warranty provider's rating provides insight into things such as claim approval rates, contractor quality, timeliness of repairs, and overall customer satisfaction. Use third-party review sites such as TrustPilot, the Better Business Bureau (BBB), or Google Reviews to research companies. Favorable ratings and reviews indicate a company known for stellar service.

Contractor Network

Home warranty companies keep networks of technicians to handle covered repairs. Wider networks raise the probability of getting qualified technicians to service your home ASAP. Ask potential providers how many contractors they have in Thompson to get a sense of how soon your repairs could be handled in an emergency.

Added Benefits

Some home warranty providers include perks such as energy efficiency upgrades, smart home device coverage, and reduced maintenance fees. These can provide extra value beyond repair coverage. Extra bonuses help you enhance your home and get the most from your home warranty.

Is a Home Warranty Worth it in Thompson?

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Benefits of a Home Warranty

Thompson’s cold winters can put a strain on a home’s HVAC system. Whether it’s summer or winter, a home warranty is designed to cover your home’s appliances and systems if they need to be repaired or replaced. For example, if your air conditioner stops working in the middle of July, a home warranty can cover the repairs, saving you from spending unexpected money out of pocket.

Not only can a home warranty save you money on repairs and replacements, it saves you time too. Instead of having to vet service technicians yourself, home warranty companies do the work for you and send a contractor from their network right to your door when you need them. Another added benefit of having home warranty coverage is that it can increase your home’s real estate value. If you ever decide to sell your house, you may be able to transfer your home warranty plan to the new homebuyer depending on the company you have your home warranty with.

Downsides of a Home Warranty

Home warranties also have some drawbacks. Though it can save you time when the home warranty sends out a repair person who does the repair for you, some homeowners may not like this, and they may want to choose their own contractor. If that’s the case for you, some home warranty companies let you select a contractor.

Another drawback is that home warranties may not include some repairs, such as those needed because of natural disasters. For example, if your house floods, the impacted systems and appliances probably won’t be covered by the home warranty.