6 Best Home Warranty Companies in Savoy, IL

How Does a Home Warranty Work?

A home warranty is a protection plan that helps lower expenses for Savoy homeowners needing appliance and system repairs. These plans provide coverage to repair or swap out appliances and systems that stop working due to normal wear and tear.

Homeowners submit a claim and pay a service fee when something breaks. The home warranty provider then finds a contractor to make the repair or replacement. The only time you may pay out-of-pocket is if the cost of the repair or replacement exceeds 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 buyers of 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 need a home warranty.

What Does a Home Warranty Cover?

Home warranties cover many household systems and appliances. Warranties usually cover appliances such as refrigerators, dryers, dishwashers, washers, garbage disposals, microwaves, and others. Covered systems include electrical, plumbing, heating, and air conditioning. Many home warranty providers also offer add-on coverage for locksmiths, roof leaks, central vacuums, and septic systems. Savoy should understand that most home warranty plans have a waiting period of 30 days before repairs are covered. The majority of policies also only cover repairs and replacements resulting from normal wear and tear. Home warranties don't include cosmetic issues, natural disasters, pre-existing conditions, or improperly using a system or appliance. Be diligent about completing preventative maintenance to help guarantee your next repair or replacement is covered.

Key Home Warranty Terms to Know

Before agreeing to a home warranty contract, you should learn key terms like:

• Trade call fee: An additional fee that's sometimes required to appliance-related claims.
• Endorsements: Optional add-ons that expand coverage for additional systems like well pumps, pools, septic, and more. Endorsements typically cost an additional fee.
• Claim approval: The process providers use to determine whether a requested repair or replacement is covered under a home warranty plan.
• Service fee: The amount you pay our of pocket per claim for access to a contractor and repair coverage.
• Deductible: How much you pay for a covered repair before your warranty covers the rest. Deductibles can be per-claim or yearly.
• Coverage limits: Dollar limits that cap how much the warranty will pay for certain repairs or replacements. Check limits on appliances, roof leaks, air conditioning units, and similar repairs.
• 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.

If you remember these important factors, it’ll help you understand costs and select a home warranty tailored to protecting your most vital home systems. Make sure to talk to companies about coverage specifics 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 key things to take into account:

Coverage Options

Home warranty coverage varies, although most plans include protection for plumbing, electrical, heating, AC, and appliances. More inclusive plans may also include other things such as roof leaks, pools, well pumps, and spas. Look for providers with a diverse range of coverage options, including upgraded plans. This allows you to tailor protection to your needs.

Service Fees

With any home warranty claim, you'll pay a service fee that can range from $60 to $100, which gets paid per repair request filed. These per-claim charges can add up. You may decide to look for companies with more affordable 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 company's reputation gives insight into things such as contractor quality, claim approval rates, timeliness of repairs, and overall customer satisfaction. Look at third-party review sites such as the Better Business Bureau (BBB), Google Reviews, or TrustPilot to research providers. Complimentary reviews and ratings indicate a company known for stellar service.

Contractor Network

Home warranty providers keep networks of professionals to handle covered repairs. Larger networks increase the likelihood of getting qualified technicians to service your home ASAP. Reach out to potential providers and ask how many contractors they have in Savoy to get a sense of how quickly your repairs could happen in an emergency.

Added Benefits

Some home warranty providers may include perks such as smart home device coverage, energy efficiency upgrades, and reduced maintenance fees. These extras can provide extra value beyond repair coverage. Extra bonuses help you enhance your home and get the most from your home warranty.

Is a Home Warranty Worth it in Savoy?

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Benefits of a Home Warranty

Temperatures in Savoy can vary greatly throughout the year, which means your air conditioner and heating systems are likely to get a good bit of use. As a homeowner in Savoy, one benefit of having a home warranty is knowing that these home systems and major appliances can be covered if they need to be repaired or replaced.

Not only can a home warranty save you money on repairs and replacements, it saves you time too. Instead of needing to vet contractors by yourself, home warranty companies do the work for you and send a contractor from their network right to your door when you need them. Another benefit of having a home warranty is when you’re selling your home, you can most likely transfer your home warranty to the new owners. This can make your house more attractive to potential homebuyers and help your home sell faster.

Downsides of a Home Warranty

One of the major drawbacks of home warranties is not everything you care about may be covered. It’s important to weigh the different policies and choose one that covers all the appliances, systems, and add-ons you need.

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