6 Best Home Warranty Companies in Lisbon, ME

How Does a Home Warranty Work?

A home warranty is a protection policy that assists Lisbon homeowners reduce the expenses of appliance and system repairs. The plans provide coverage to fix or swap out appliances and systems that stop working 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 cost of repair or replacement exceeds the item's coverage limit. A home warranty gives reassurance to homeowners, as 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 may not require a home warranty.

What Does a Home Warranty Cover?

Home warranties protect your home systems and appliances. Common appliances covered include washers, dryers, dishwashers, microwaves, refrigerators, garbage disposals, and more. Included systems are typically electrical, plumbing, air conditioning, and heating. Many home warranty providers offer add-on coverage for septic systems, locksmiths, roof leaks, and central vacuums. It's important for Lisbon homeowners to understand most home warranty plans have a waiting period of 30 days before repair claims will be approved. Most policies also only cover repairs and replacements due to normal wear and tear. Home warranties don't include pre-existing conditions, natural disasters, cosmetic issues, or improperly using a system or appliance. Be diligent about completing preventative maintenance to ensure your next repair or replacement is covered.

Key Home Warranty Terms to Know

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

• Claim approval: The process by which your provider determines whether a requested repair or replacement is covered under your warranty.
• Coverage limits: How much money your warranty provider will pay for specific repairs or replacements. Check limits on repairs for things like appliances, air conditioning units, 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.
• 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.
• Endorsements: Additional coverage for systems like pools, septic, and well pumps, which usually comes with a fee for each add-on.
• Trade call fee: An additional fee that's sometimes required to appliance-related claims.

With these important details in mind, you'll be able to better understand pricing and choose the right home warranty to protect your most essential home systems. When getting a quote, take care to review coverage details with potential companies, so you don't encounter any 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 widely in the items that are included. Most plans include protection for plumbing, heating, AC, electrical, and appliances. More inclusive options also offer coverage on other items such as well pumps, roof leaks, spas, and pools. Look for providers with flexible coverage choices, including upgraded plans. This allows you to customize your plan to your home's needs.

Service Fees

With any home warranty claim, you'll pay a repair fee that typically ranges between $60 and $100, which gets paid per service call made. These per-claim charges can add up. You may decide to look for companies with lower service fees to maximize your savings on each claim. Some companies also offer disappearing deductibles when customers go a period with no claims filed.

Reputation

A home warranty provider's reputation can offer insight into things such as approval rates for claims, contractor quality, speed of repairs, and customer satisfaction. Look at third-party review sites such as TrustPilot, Google Reviews, or the Better Business Bureau (BBB) to research companies. Good ratings and reviews indicate that a company is known for quality service.

Contractor Network

Home warranty providers have networks of technicians that they use to tackle covered repairs. Bigger networks increase the chance of getting qualified contractors to your home promptly. Contact possible providers to ask how many technicians they have in Lisbon. This helps you understand how long repairs may take in an urgent situation.

Added Benefits

Certain home warranty providers include perks such as discounts on maintenance, energy-efficient upgrades, and protection for smart home devices. These bonuses can provide extra value beyond repair coverage. Extra perks help improve your home and maximize your home warranty.

Is a Home Warranty Worth it in Lisbon?

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Benefits of a Home Warranty

Since temperatures in Lisbon can hit the negatives in the winter, the extreme weather can put a lot of strain on your heating system. Having a home warranty policy can help homeowners save money if one of these systems or appliances breaks all of a sudden.

Not only can a home warranty offer some financial relief, but it also saves you time. If an appliance breaks, the last thing you want to do is find a contractor and schedule a repair. A home warranty takes care of the research by sending trusted professionals to your door when you need them most. In addition, though home warranty companies vary, 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

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

Another thing to consider is that some companies don’t cover pre-existing problems and may require an inspection before your coverage can start. Ask the home warranty company for clarification about this if you aren’t sure or if this is a problem for you.