6 Best Home Warranty Companies in Godfrey, IL

How Does a Home Warranty Work?

A home warranty is a protection policy that assists Godfrey homeowners cut the high costs of household repairs. These plans offer financial coverage to repair or swap out appliances and systems that stop working from normal wear and tear.

Homeowners submit a claim and pay a service fee when something breaks. The home warranty company then finds a contractor to make the repair 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 plan gives homeowners peace of mind since it can help avoid costly emergency repairs. They can be especially helpful for people purchasing older homes or homes with systems near the end of their life span. However, newer homes with appliances and fixtures in good condition may not need a home warranty.

What Does a Home Warranty Cover?

Home warranties protect your home systems and appliances. Common covered appliances are dishwashers, refrigerators, dryers, microwaves, garbage disposals, washers, and more. Covered systems are typically air conditioning, heating, electrical, and plumbing. Many home warranty companies offer add-on coverage for septic systems, central vacuums, roof leaks, and locksmiths. Most home warranty plans require Godfrey homeowners to refrain from making claims for 30 days before they can use the policy to pay for repairs. Moreover, policies normally only cover repairs and replacements resulting from normal wear and tear. Home warranties don't cover natural disasters, pre-existing conditions, cosmetic issues, 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

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

• Deductible: The amount you pay toward a covered repair before the warranty covers the rest. Some plans have per-claim or yearly deductibles.
• Coverage limits: How much money your warranty provider will pay for specific repairs or replacements. Check limits on repairs for things like air conditioning units, appliances, and roof leaks.
• Contract rate: The pre-negotiated rate a home warranty company has with its contractors. This rate is usually less than typical retail costs.
• Claim approval: The process providers use to determine whether a requested repair or replacement is covered under a home warranty plan.
• Trade call fee: An additional fee that some companies charge for appliance-related claims.
• Service fee: The out-of-pocket cost you pay per claim for access to a contractor and repair coverage.
• Endorsements: Additional coverage for systems like pools, well pumps, and septic, which usually comes with a fee for each add-on.

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

There are several key considerations when choosing a home warranty provider:

Coverage Options

Home warranty coverage can have major differences in what's included. Most plans provide coverage for plumbing, heating, AC, electrical, and appliances. More comprehensive plans also include protection for other items such as pools, well pumps, spas, and roof leaks. 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

You'll pay a standard service fee of around $60 to $100 for each claim filed with your home warranty provider. This fee is charged per request and can quickly add up, so you may seek out companies advertising lower service fees to optimize savings on each repair claim. Certain providers may waive deductibles when a homeowner submits no claims in a defined period.

Reputation

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

Contractor Network

Home warranty providers keep networks of technicians to handle covered repairs. More extensive networks raise the likelihood of getting qualified technicians to quickly service your home. Reach out to potential providers and ask how many contractors they have in Godfrey to get a sense of how quickly your repairs could be handled in an emergency.

Added Benefits

Some home warranty providers offer bonuses such as smart home device protection, maintenance discounts, and energy efficiency upgrades. These perks can add value beyond repair coverage. Extra bonuses maximize the usefulness of the home warranty.

Is a Home Warranty Worth it in Godfrey?

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Benefits of a Home Warranty

Temperatures in Godfrey can vary greatly throughout the year, which means your air conditioner and heating systems are likely to get a decent amount of use. As a homeowner in Godfrey, one of the benefits of having a home warranty is that these home systems and major appliances can be covered in the event they have to be repaired or replaced.

Not only does a home warranty give you some financial relief, but it also saves you time. If an appliance breaks, the last thing you want to do is find a repair person and schedule a repair. A home warranty handles the research by sending trusted professionals to your door when you need them most. Additionally, though it varies by company, some providers will let you transfer your warranty if you sell your home. This can make your property more attractive to potential homebuyers and help your home sell faster.

Downsides of a Home Warranty

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

Plus, 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 other than normal wear and tear — the home warranty may not cover it.