6 Best Home Warranty Companies in Cary, IL

How Does a Home Warranty Work?

A home warranty is a protection plan that assists Cary homeowners in lowering the costs of appliance and system repairs. The plans provide coverage to swap out or fix appliances and systems that malfunction 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 repair. Homeowners may have out-of-pocket costs only if the repair or replacement costs exceed the item's coverage limit. A home warranty gives reassurance to homeowners, as it helps prevent costly emergency repairs. Home warranties are the most useful for older construction homes with aging systems. New homes with modern appliances might not require a home warranty.

What Does a Home Warranty Cover?

Home warranties cover many home systems and appliances. Covered appliances normally include garbage disposals, washers, refrigerators, dishwashers, dryers, microwaves, and others. Covered systems include electrical, air conditioning, plumbing, and heating. Many home warranty providers also offer additional coverage for roof leaks, septic systems, central vacuums, and locksmiths. Cary homeowners should 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 problems such as natural disasters, cosmetic issues, pre-existing conditions, or damage caused by improperly using a system or appliance. It's important to keep up with preventative maintenance to help 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 know before signing an agreement, including:

• Claim approval: The process a provider uses to validate that a requested repair or replacement is covered under your plan.
• Coverage limits: Dollar limits that cap how much the warranty will pay for certain repairs or replacements. Check limits on air conditioning units, roof leaks, appliances, and similar repairs.
• Service fee: The amount you pay our of pocket per claim for access to a contractor and repair coverage.
• 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.
• Endorsements: Optional add-ons that expand coverage for additional systems like pools, well pumps, septic, and more. Endorsements typically cost an additional fee.
• Contract rate: The pre-negotiated rate a home warranty company has with its contractors. This rate is usually less than typical retail costs.
• Trade call fee: An additional fee that some companies charge for appliance-related claims.

With these terms and key factors in mind, you'll be able to better understand pricing and choose a home warranty customized to protecting your most essential home systems. During the quoting process, take care to review coverage details with potential providers to help avoid unexpected fees.

Key Factors in Choosing a Home Warranty Company

When you're deciding on a home warranty provider, there are several important things to take into account:

Coverage Options

Home warranty plans differ significantly in terms of coverage. Most plans cover electrical, plumbing, heating, AC, and appliances. More robust plans also extend protection to other items such as pools, roof leaks, spas, and well pumps. Look for companies with flexible coverage choices, including upgraded plans. This allows you to customize your plan to your home's needs.

Service Fees

You'll pay a service fee, typically $60–100, for each claim filed with your home warranty provider. This fee is charged per request and can quickly add up, so you may look for companies advertising more affordable fees to optimize savings on each repair claim. Certain providers may waive deductibles if homeowners don't submit any claims within a set period of time.

Reputation

A home warranty provider's reputation can give you insight into things such as contractor quality, repair timeliness, approval rates, and customer satisfaction. Use review platforms such as Google Reviews, TrustPilot, or the Better Business Bureau (BBB) to research providers. Positive ratings and feedback indicate a company known for great service.

Contractor Network

Home warranty companies have networks of professionals that they use to tackle covered repairs. Larger networks increase the likelihood of getting skilled contractors to your home promptly. Reach out to possible providers to find out how many repair professionals they have in Cary to understand how long repairs could take in an urgent situation.

Added Benefits

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

Is a Home Warranty Worth it in Cary?

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Benefits of a Home Warranty

Cary’s cold winters can put a strain on a home’s HVAC system. Whether it’s summer or winter, a home warranty can 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, saving you from spending unexpected money out of pocket.

Not only can a home warranty provide 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 takes care of this process by sending trusted professionals to your door when you need them most. Another good thing about having a home warranty is if you want to sell your home, you can most likely transfer your home warranty policy to the new owners. It can make your house more attractive to potential homebuyers and help your home sell faster.

Downsides of a Home Warranty

There are also some drawbacks to getting a home warranty plan, like the coverage exclusions. For instance, home warranties may not cover systems or appliances that are already covered by a manufacturer's warranty.

Another downside is that home warranties may not include some repairs, like those needed because of natural disasters. For example, if your house floods, the affected systems and appliances most likely won’t be covered by the home warranty.