6 Best Home Warranty Companies in Maywood, IL

How Does a Home Warranty Work?

A home warranty is a protection policy that assists Maywood homeowners lower the expenses of appliance and system repairs. The plans offer coverage to fix or swap out appliances and systems that break down 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 repair or replacement. Homeowners may have out-of-pocket costs only if the repair or replacement goes over the item's coverage limit. A home warranty gives homeowners peace of mind by helping avoid high-priced emergency repairs. The coverage is especially helpful for owners of older houses or houses with systems near the end of their life span. However, people with newer homes and working appliances may not require a home warranty.

What Does a Home Warranty Cover?

Home warranties cover many home systems and appliances. Warranties usually cover appliances such as dishwashers, microwaves, dryers, garbage disposals, refrigerators, washers, and others. Covered systems include air conditioning, plumbing, electrical, and heating. Many home warranty providers also offer additional coverage for locksmiths, septic systems, central vacuums, and roof leaks. Maywood homeowners should know that most home warranty plans begin with a 30-day waiting period before repairs are covered. Additionally, most policies only cover the cost of repairs and replacements resulting from normal wear and tear. Home warranties don't include natural disasters, cosmetic issues, pre-existing conditions, or improperly using a system or appliance. You must keep up with preventative maintenance to help make sure your next repair or replacement is covered.

Key Home Warranty Terms to Know

Here are some essential home warranty words to know before signing a contract:

• Endorsements: Optional add-on coverage for systems such as well pumps, septic, pools and more. Endorsements typically come with an additional fee.
• Trade call fee: An additional fee that some companies charge for appliance-related claims.
• Contract rate: A pre-negotiated rate that your home warranty provider has worked out with contractors. This rate is typically less than what you would pay retail.
• 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.
• Service fee: The out-of-pocket cost per claim that you pay for contractor access and repair coverage.
• Deductible: The amount you pay toward a covered repair before the warranty covers the rest. Some plans have per-claim or yearly deductibles.
• Claim approval: The process a provider uses to validate that a requested repair or replacement is covered under your plan.

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. Discuss specifics of coverage with potential companies during the quote process 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 key things to take into account:

Coverage Options

Home warranties differ greatly in the items covered. Basic policies typically include AC, plumbing, electrical, heating, and appliances, while more comprehensive options may also cover pools, spas, well pumps, and roof leaks. Look for providers with flexible coverage choices, including upgraded plans. This allows you to customize your plan to your needs.

Service Fees

Homeowners should anticipate paying a $60–100 service fee when filing home warranty claims. These per-claim costs can add up, so some homeowners prefer using providers with more affordable per-claim fees to maximize savings. Some providers also offer disappearing deductibles when a homeowner goes a defined period without any repair requests.

Reputation

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

Contractor Network

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

Added Benefits

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

Is a Home Warranty Worth it in Maywood?

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Benefits of a Home Warranty

Since temperatures in Maywood can be quite cold in the winter, the weather can put a lot of strain on your HVAC system. Buying 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 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 technician and schedule a repair. A home warranty takes care of this process by sending trusted professionals to your door when you need them most. In addition, though it varies by company, some providers will allow you to transfer your warranty if you sell your home. This can make your house more attractive to potential homebuyers and maybe even help your home sell faster.

Downsides of a Home Warranty

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

Another potential pain point of home warranties is that they don’t cover items that haven’t been properly maintained. This can lead to your claims being rejected, so it’s important to make sure you follow the manufacturer’s guidelines for maintenance of your home systems and appliances.