6 Best Home Warranty Companies in Bloomingdale, IL

How Does a Home Warranty Work?

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

Homeowners submit a claim and pay a service fee when something breaks. The home warranty company then arranges a contractor to make the fix or replacement. The only time you may pay out-of-pocket is if the repair or replacement costs exceed the item's coverage limit. A home warranty provides security for homeowners by helping them prevent expensive emergency repairs. They're particularly useful for those who live in older homes or ones with aging systems. More modern builds with functional appliances probably don’t require a home warranty.

What Does a Home Warranty Cover?

Home warranties protect your household systems and appliances. Typical covered appliances are washers, microwaves, dryers, refrigerators, garbage disposals, dishwashers, and others. Covered systems include electrical, plumbing, air conditioning, and heating. Many home warranty plans offer add-on coverage for central vacuums, septic systems, roof leaks, and even locksmiths. Most home warranty plans require Bloomingdale homeowners to wait 30 days before they can use the policy to pay for repairs. Moreover, policies usually 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

Before signing a home warranty contract, you should know key terms like:

• Contract rate: The pre-negotiated rate a home warranty company has with its contractors. This rate is usually less than typical retail costs.
• Endorsements: Optional add-ons that expand coverage for additional systems like septic, pools, well pumps, and more. Endorsements typically cost an additional fee.
• 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 air conditioning units, appliances, and roof leaks.
• Service fee: The out-of-pocket cost per claim that you pay for contractor access and repair coverage.
• Claim approval: The process by which your provider determines whether a requested repair or replacement is covered under your warranty.
• Trade call fee: An additional fee that some companies charge for 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 terms and key factors in mind will help you understand a home warranty contract and select a plan that's tailored to protect your most important home systems. Be sure to discuss specifics of coverage with potential companies during the quote process, so you can avoid unexpected fees.

Key Factors in Choosing a Home Warranty Company

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

Coverage Options

Home warranties vary widely in terms of included coverage. Basic policies typically cover plumbing, AC, heating, electrical, and appliances, while more comprehensive options may also cover roof leaks, well pumps, spas, and pools. 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 systems and needs.

Service Fees

Expect to pay a per-service fee of $60-100 for each home warranty claim. As this charge applies to every separate claim, some homeowners prefer to choose a company with more affordable fees to maximize savings. Some companies also eliminate deductibles for homeowners who don't file claims in a certain period.

Reputation

A home warranty provider's reputation provides insights into factors such as repair speed, claim approval rates, contractor expertise, and customer satisfaction. Check review sites like the Better Business Bureau (BBB), TrustPilot, or Google Reviews to learn more about companies. Favorable reviews and ratings suggest a company known for delivering quality service.

Contractor Network

Home warranty providers use networks of local repair contractors to manage repairs in a given area. Contact potential companies to ask how many repair technicians they have in Bloomingdale and get an idea of how fast your repairs could be handled in an emergency. Wider networks improve the probability of getting qualified contractors to quickly service your home.

Added Benefits

Certain home warranty providers include extras such as energy-efficient upgrades, protection for smart home devices, and discounts on maintenance. These can provide extra value beyond repair coverage. Extra perks help improve your home and maximize your home warranty.

Is a Home Warranty Worth it in Bloomingdale?

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Benefits of a Home Warranty

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

Not only can a home warranty offer some financial relief, but it also saves you time. If an appliance breaks, the last thing you want to do is find a contractor and schedule a repair. A home warranty handles this process by sending trusted professionals to your door when you need them most. 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 purchased your home warranty through.

Downsides of a Home Warranty

As for the drawbacks of home warranties, coverage varies by company, so it’s important to review what each policy covers and excludes in the contract.

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