7 Best Home Warranty Companies in Lakewood Park, FL

How Does a Home Warranty Work?

A home warranty is a protection plan that helps Lakewood Park homeowners in reducing the expenses of appliance and system repairs. The plans provide financial coverage to replace or fix appliances and systems that malfunction due to normal wear and tear.

When something breaks down, you submit a claim and pay a service fee. The home warranty provider then arranges a contractor to handle the replacement or fix. Homeowners may have out-of-pocket costs only if the cost of the repair or replacement goes over the item's coverage limit. A home warranty gives homeowners reassurance, as it helps avoid expensive emergency repairs. The coverage is especially helpful for those living in older houses or houses with systems near the end of their life span. However, homeowners with newer homes and working appliances may not need a home warranty.

What Does a Home Warranty Cover?

Home warranties cover many household systems and appliances. Covered appliances normally include dishwashers, refrigerators, dryers, garbage disposals, washers, microwaves, and others. Covered systems include heating, plumbing, air conditioning, and electrical. Many home warranty companies also offer add-on coverage for central vacuums, roof leaks, septic systems, and locksmiths. Most home warranty plans require Lakewood Park homeowners to refrain from making claims for 30 days before they can use the policy to pay for repairs. Additionally, policies normally only cover repairs and replacements due to normal wear and tear. Home warranties don't cover pre-existing conditions, cosmetic issues, natural disasters, or misusing a system or appliance. To make sure your next repair or replacement is covered, keep up with preventative maintenance.

Key Home Warranty Terms to Know

Home warranty contracts use several terms that you'll want to know before signing, such as:

• 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.
• Contract rate: The rate that your home warranty provider has pre-negotiated with its contractors. Normally, this rate is lower than what you'd pay retail.
• Service fee: The out-of-pocket cost per claim that you pay for contractor access and repair coverage.
• Coverage limits: The maximum dollar amount that your warranty provider will pay for certain repairs or replacements. Check your contract's limits on repairs for things like appliances, air conditioning units, and roof leaks.
• Trade call fee: An additional fee that's sometimes required to appliance-related claims.
• Claim approval: The process a provider uses to validate that a requested repair or replacement is covered under your plan.
• Endorsements: Optional add-ons that expand coverage for additional systems like well pumps, pools, septic, 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. Discuss coverage details with potential companies when getting a quote, so you can avoid surprise fees.

Key Factors in Choosing a Home Warranty Company

When selecting a home warranty provider, there are several key factors to consider:

Coverage Options

Home warranty coverage varies, although most plans cover electrical, heating, AC, plumbing, and appliances. More extensive plans may also include other things such as spas, pools, roof leaks, and well pumps. Look for a provider that offers robust coverage options, including upgraded plans. Flexibility is important when trying to fit a home warranty to your home's specific needs.

Service Fees

With any home warranty claim, you'll pay a service fee that can range from $60 to $100, which is paid per service call made. The per-request costs can add up. You may decide to look for companies with more affordable fees to maximize your savings on each claim. Some providers also offer disappearing deductibles when customers go a period with no claims filed.

Reputation

A home warranty company's reputation can offer insight into things such as approval rates for claims, contractor quality, speed of repairs, and customer satisfaction. Look at third-party review sites such as Google Reviews, TrustPilot, or the Better Business Bureau (BBB) to research providers. Positive ratings and reviews indicate that a provider is known for quality service.

Contractor Network

Home warranty providers have networks of contractors to handle covered repairs. More extensive networks improve the probability of getting qualified technicians to quickly service your home. Ask potential providers how many contractors they have in Lakewood Park to get a sense of how quickly your repairs could be handled in an emergency.

Added Benefits

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

Is a Home Warranty Worth it in Lakewood Park?

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Benefits of a Home Warranty

Lakewood Park’s hot summers 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 in the event 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 needed repairs, preventing you from spending unexpected money out of pocket.

Along with saving you money on out-of-pocket expenses, a home warranty can offer you peace of mind and save you the headache of trying to find a qualified contractor to visit your home. Home warranties usually have a network of pre-vetted technicians who can handle any repair problems you may come across. A home warranty can also have value in other ways. For instance, some plans can be transferred to another owner when you sell your home.

Downsides of a Home Warranty

One drawback of purchasing a home warranty is that there are usually exclusions. For instance, if one of your appliances already has a manufacturer's warranty, it may not be included in the home warranty, so it’s important to read over any contracts you’re considering thoroughly to get a sense of what is included and what isn’t.

Another pain point of home warranties is that they don’t cover items that haven’t been properly maintained. This can lead to your claims being denied, so it’s important to carefully follow the manufacturer’s guidelines for maintenance of your home systems and appliances.