6 Best Home Warranty Companies in Hawthorn Woods, IL

How Does a Home Warranty Work?

A home warranty is a protection plan that assists Hawthorn Woods homeowners in reducing the costs of appliance and system repairs. The plans offer financial coverage to swap out or repair appliances and systems that stop working due to normal wear and tear. When something stops working, you submit a claim and pay a service fee. The home warranty company 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 policy gives homeowners a sense of security since it can help avoid expensive emergency repairs. They can be especially helpful for people purchasing older homes or homes with appliances near the end of their life span. However, newer homes with appliances and fixtures in good condition may not require a home warranty.

What Does a Home Warranty Cover?

Home warranties safeguard your home systems and appliances. Common covered appliances include microwaves, washers, dryers, garbage disposals, refrigerators, dishwashers, and others. Covered systems include electrical, air conditioning, heating, and plumbing. Many home warranties offer additional add-on coverage options for central vacuums, locksmiths, septic systems, and even roof leaks. Hawthorn Woods homeowners should know that most home warranty plans impose a 30-day waiting period before repairs are covered. Additionally, most policies only cover the cost of repairs and replacements due to normal wear and tear. Home warranties don't include cosmetic issues, pre-existing conditions, natural disasters, or improperly using a system or appliance. You must keep up with preventative maintenance to help ensure your next repair or replacement is covered.

Key Home Warranty Terms to Know

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

• Claim approval: The process a provider uses to validate that a requested repair or replacement is covered under your plan.
• Trade call fee: An added fee that you'll sometimes need to pay for appliance-related claims.
• Deductible: The amount you pay toward a covered repair before the warranty covers the rest. Some plans have per-claim or yearly deductibles.
• Service fee: The out-of-pocket cost you pay per claim for access to a contractor and repair coverage.
• Contract rate: The pre-negotiated rate a home warranty company has with its contractors. This rate is usually less than typical retail costs.
• 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.
• Endorsements: Optional add-ons that expand coverage for additional systems like septic, well pumps, pools, and more. Endorsements typically cost an additional fee.

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 providers during the quote process, so you can avoid unexpected fees.

Key Factors in Choosing a Home Warranty Company

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

Coverage Options

Home warranty coverage varies, although most plans cover AC, electrical, heating, plumbing, and appliances. More extensive plans may also cover additional items such as well pumps, spas, roof leaks, and pools. Look for a company that offers comprehensive coverage choices, including upgraded plans. You want the flexibility to customize coverage to fit your home's specific systems and 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 service call made. The per-request costs can add up. You may decide to look for providers with lower service fees to maximize your savings on each claim. Some firms also offer disappearing deductibles for customers who don't file any claims over a certain timespan.

Reputation

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

Contractor Network

Home warranty businesses maintain networks of local professionals to handle repairs in your area. Reach out to potential providers to ask how many repair contractors they have in Hawthorn Woods and get an idea for how quickly your repairs could take place in an emergency situation. Bigger networks increase the chances of getting qualified contractors to promptly service your home.

Added Benefits

Home warranty providers might offer perks such as energy efficiency upgrades, coverage for smart home devices, and maintenance discounts. These add value beyond just repair coverage. Additional perks can maximize the usefulness of the home warranty.

Is a Home Warranty Worth it in Hawthorn Woods?

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Benefits of a Home Warranty

Since temperatures in Hawthorn Woods can be quite cold in the winter, the weather can put a lot of strain on your HVAC system. Getting a home warranty plan can help homeowners save money if one of these systems or appliances breaks suddenly.

Not only can a home warranty save you some money on repairs and replacements, it saves you time too. Instead of vetting contractors on your own, home warranty providers do the work for you and send pre-screened technicians right to your door when you need them. Another good thing about having a home warranty is while selling your home, some providers let you transfer your home warranty policy to the new owners. It can make your house more attractive to potential homebuyers and may help your home sell faster.

Downsides of a Home Warranty

As for the disadvantages of home warranties, home system and appliance coverage varies by company, so it’s important to review what each plan covers and doesn’t include in the contract.

Another consideration is that home warranties usually only cover repairs needed due to normal wear and tear. They most likely won’t cover systems or appliances that have been damaged due to improper maintenance, animal infestations, natural disasters, etc.