6 Best Home Warranty Companies in Frankfort Square, IL

How Does a Home Warranty Work?

A home warranty is a protection policy that helps Frankfort Square homeowners cut the costs of appliance and system repairs. The plans offer financial coverage to repair or swap out 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 company then finds a contractor to handle the fix or replacement. Homeowners may have out-of-pocket costs only if the cost of repair or replacement exceeds the item's coverage limit. A home warranty gives homeowners reassurance by helping avoid high-priced emergency repairs. The coverage is particularly helpful for owners of older houses or houses with systems near the end of their life span. However, people with newer homes and modern appliances may not need a home warranty.

What Does a Home Warranty Cover?

Home warranties cover your home systems and appliances. Common appliances covered include garbage disposals, dishwashers, microwaves, washers, refrigerators, dryers, and more. Included systems are typically plumbing, air conditioning, heating, and electrical. Many home warranty companies provide add-on coverage for septic systems, central vacuums, locksmiths, and roof leaks. Most home warranty plans require Frankfort Square homeowners to wait 30 days before they can use the policy to pay for repairs. Additionally, policies typically only cover repairs and replacements resulting from normal wear and tear. Home warranties don't cover pre-existing conditions, cosmetic issues, natural disasters, or misuse of 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 learn key terms like:

• Endorsements: Additional coverage for systems like pools, well pumps, and septic, which usually comes with a fee for each add-on.
• 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.
• Coverage limits: Dollar limits that cap how much the warranty will pay for certain repairs or replacements. Check limits on roof leaks, air conditioning units, appliances, and similar repairs.
• Claim approval: The process a provider uses to validate that a requested repair or replacement is covered under your plan.
• Trade call fee: An additional fee that's sometimes required to appliance-related claims.
• Service fee: The out-of-pocket cost per claim that you pay for contractor access 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.

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 home. 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

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

Coverage Options

Home warranty coverage differs significantly when it comes to what's covered. Most plans include protection for AC, electrical, heating, plumbing, and appliances. More inclusive options also offer coverage on other items such as spas, well pumps, pools, and roof leaks. Focus on companies with wide-ranging coverage selections including upgraded plans. This flexibility enables you to customize protection for your home's 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, you may want to choose a provider with more affordable fees to maximize savings. Some providers also eliminate deductibles if a customer goes a period of time without filing any claims.

Reputation

A home warranty provider'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 top-tier service.

Contractor Network

Home warranty providers maintain networks of technicians to handle covered repairs. Wider networks improve the probability of getting qualified technicians to swiftly service your home. Contact potential providers to find out how many contractors they have in Frankfort Square to get a sense of how quickly your repairs could happen in an emergency.

Added Benefits

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

Is a Home Warranty Worth it in Frankfort Square?

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Benefits of a Home Warranty

Since temperatures in Frankfort Square can be quite cold in the winter, the weather can put a lot of strain on your HVAC system. Getting a home warranty can help homeowners save money if one of these systems or appliances breaks down all of a sudden.

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 technician and schedule a repair. A home warranty takes care of the research by sending trusted professionals to your door when you need them most. Plus, having a home warranty can make your house more attractive to potential homebuyers if you ever decide to sell in the future. Many home warranty companies will allow you to transfer your plan to a new owner and give them the protection you’ve been benefiting from.

Downsides of a Home Warranty

One major drawback of a home warranty is not everything may be covered. It’s important to weigh the different policies and sign up for one that covers all the appliances, systems, and add-ons you need.

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