6 Best Home Warranty Companies in Arlington Heights, IL

How Does a Home Warranty Work?

A home warranty is a protection plan that helps Arlington Heights homeowners in lowering the costs of appliance and system repairs. The plans offer financial coverage to replace or fix appliances and systems that break down due to normal wear and tear. When something breaks down, you file 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 peace of mind, 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, people with newer homes and modern appliances might not require a home warranty.

What Does a Home Warranty Cover?

Home warranties cover your home systems and appliances. Common appliances covered include garbage disposals, dishwashers, dryers, microwaves, washers, refrigerators, and more. Covered systems are usually plumbing, electrical, heating, and air conditioning. Many home warranty companies provide add-on coverage for septic systems, roof leaks, locksmiths, and central vacuums. Arlington Heights should understand that most home warranty plans have a waiting period of 30 days before repair claims will be approved. Most policies also only cover repairs and replacements due to normal wear and tear. Home warranties don't include natural disasters, pre-existing conditions, cosmetic issues, or misusing a system or appliance. Stay current with preventative maintenance to help guarantee your next repair or replacement is covered.

Key Home Warranty Terms to Know

There are multiple home warranty terms to understand before signing an agreement, including:

• Claim approval: The process by which your provider determines whether a requested repair or replacement is covered under your warranty.
• Endorsements: Optional add-on coverage for systems such as septic, well pumps, pools and more. Endorsements typically come with an additional fee.
• 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.
• Service fee: The out-of-pocket cost you pay per claim for access to a contractor 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.
• 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.

Keeping these important details in mind will help you understand a home warranty contract and select a plan that's tailored to protect your most important home systems. Discuss specifics of coverage with potential companies during the quote process to avoid unexpected 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 include protection for plumbing, AC, heating, electrical, and appliances. More extensive plans may also cover other things such as spas, well pumps, pools, and roof leaks. Look for providers with a diverse range of coverage options, including upgraded plans. This allows you to tailor protection to your home's needs.

Service Fees

With any home warranty claim, you'll pay a service fee, usually falling in the $60 to $100 range, which is paid per claim you submit. The costs from multiple fees can add up. You may decide to look for companies with lower service fees to maximize your savings on each claim. Some providers also offer disappearing deductibles if a homeowner doesn't submit claims for repairs for a specified period of time.

Reputation

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

Contractor Network

Home warranty companies keep networks of contractors to handle covered repairs. Wider networks improve the probability of getting qualified technicians to promptly service your home. Reach out to potential providers and ask how many contractors they have in Arlington Heights to get a sense of how soon your repairs could be handled in an emergency.

Added Benefits

Home warranty companies may include extras such as energy efficiency upgrades, maintenance discounts, and coverage for smart home devices. These extras add value beyond repair coverage. Additional perks can maximize the usefulness of your home warranty.

Is a Home Warranty Worth it in Arlington Heights?

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Benefits of a Home Warranty

Arlington Heights’s cold winters can put a strain on a home’s HVAC system. Whether it’s summer or winter, a home warranty can help 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 necessary repairs, preventing you from spending a lot of money out of pocket.

Not only can a home warranty save you some money on repairs and replacements, it saves you time too. Instead of needing to vet 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. A home warranty can also yield value in other ways. For example, some policies can be transferred to another owner during a home sale.

Downsides of a Home Warranty

There are also some downsides to purchasing a home warranty plan, like the coverage exclusions. For example, home warranties may not cover home systems or appliances that are already covered under a manufacturer's warranty.

In addition, if you don’t maintain your home systems or appliances properly, or if they need repairs or replacements due to a natural disaster or animal infestation — anything besides normal wear and tear — the home warranty may not cover it.