6 Best Home Warranty Companies in Hickory Point, IL

How Does a Home Warranty Work?

A home warranty is a protection plan that assists Hickory Point homeowners in lowering the costs of appliance and system repairs. The plans provide coverage to replace or fix appliances and systems that break down due to normal wear and tear.

When something breaks down, you file a claim and pay a service fee. The home warranty company then arranges a contractor to handle the replacement or fix. Homeowners may have out-of-pocket costs only if the repair or replacement costs exceed the item's coverage limit. A home warranty gives peace of mind to homeowners because it helps prevent expensive emergency repairs. Home warranties are particularly useful for owners of older homes or homes with aging systems. New homes with up-to-date appliances might not need a home warranty.

What Does a Home Warranty Cover?

Home warranties protect your home systems and appliances. Common appliances covered include dryers, garbage disposals, microwaves, dishwashers, washers, refrigerators, and more. Included systems are typically electrical, heating, plumbing, and air conditioning. Many home warranty companies offer add-on coverage for septic systems, roof leaks, locksmiths, and central vacuums. Hickory Point homeowners should know that most home warranty policies have a 30-day period you must wait before they can be used to cover repairs. Additionally, policies typically only cover repairs and replacements that result from normal wear and tear. Home warranties don't cover things like pre-existing conditions, cosmetic issues, natural disasters, or damage caused by improperly using a system or appliance. It's important to keep up with preventative maintenance to ensure that your next repair or replacement is covered by the policy.

Key Home Warranty Terms to Know

Here are some key home warranty terms to learn before signing a contract:

• Trade call fee: An additional fee that some companies charge for appliance-related claims.
• 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.
• Deductible: How much you pay for a covered repair before your warranty covers the rest. Deductibles can be per-claim or yearly.
• Endorsements: Optional add-on coverage for systems such as pools, septic, well pumps and more. Endorsements typically come with an additional fee.
• Service fee: The out-of-pocket cost per claim that you pay for contractor access and repair coverage.
• 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 roof leaks, appliances, air conditioning units, and similar repairs.

Keeping these terms and key factors in mind will help you understand costs and select a home warranty that's tailored to protect your home. Make sure you 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 choosing a home warranty provider, there are several important factors to consider:

Coverage Options

Home warranty policies differ significantly in terms of coverage. Most plans provide protection for heating, plumbing, electrical, AC, and appliances. More robust plans also include coverage for other items such as roof leaks, well pumps, spas, and pools. Look for providers with an assortment of coverage options, such as upgraded plans. You'll want to tailor your protection for your home’s needs.

Service Fees

You'll pay a repair fee, normally ranging from $60–100 for each claim filed with your home warranty provider. These per-claim charges 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 if homeowners don't submit any claims within a set period of time.

Reputation

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

Contractor Network

Home warranty providers have networks of technicians that they use to tackle covered repairs. Larger networks raise the probability of getting skilled contractors to your home promptly. Contact possible providers to find out how many repair professionals they have in Hickory Point. This helps you understand how long repairs could take in an urgent situation.

Added Benefits

Some home warranty companies include perks such as reduced maintenance fees, energy efficiency upgrades, and smart home device coverage. These can offer extra value beyond repair coverage. Extra bonuses let you enhance your home and get the most from your warranty policy.

Is a Home Warranty Worth it in Hickory Point?

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Benefits of a Home Warranty

Hickory Point’s relatively mild winters and hot summers can put a strain on a home’s HVAC system. Whether it’s summer or winter, a home warranty can help 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 a lot of money out of pocket.

Not only can a home warranty save you money on repairs and replacements, it saves you time as well. Instead of vetting service technicians yourself, home warranty providers do the work for you and send a contractor from their network right to your door when you need them. Another added benefit of having home warranty coverage is that it can increase your home’s property value. If you ever decide to sell your home, 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

Home warranties also have some downsides. Although it can give you less to worry about since the home warranty sends out a contractor who takes care of the repair for you, some homeowners may not like this, and they would prefer to select their own contractor. If that’s important to you, some home warranty companies allow you to choose a contractor.

Another stipulation is that home warranties typically only cover repairs needed due to normal wear and tear. They often won’t cover systems or appliances that need repairs or replacements due to natural disasters, animal infestations, improper maintenance, etc.