6 Best Home Warranty Companies in Beverly, MA

How Does a Home Warranty Work?

A home warranty is a protection plan that helps Beverly homeowners in lowering the expenses of appliance and system repairs. The plans provide financial coverage to replace or fix 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 fix. Homeowners may have out-of-pocket costs only if the cost of the repair or replacement exceeds the item's coverage limit. A home warranty delivers peace of mind for homeowners by helping them prevent expensive emergency fixes. They're particularly useful for those who own older homes or ones with outdated systems. Newer builds with functional fixtures probably don’t require a home warranty.

What Does a Home Warranty Cover?

Home warranties cover your home systems and appliances. Common appliances covered include microwaves, dishwashers, washers, refrigerators, garbage disposals, dryers, and more. Covered systems are typically air conditioning, heating, electrical, and plumbing. Many home warranty companies offer add-on coverage for septic systems, central vacuums, locksmiths, and roof leaks. It's important for Beverly homeowners to understand most home warranty plans have a 30-day waiting period before repair claims will be approved. Most policies also only cover repairs and replacements resulting from normal wear and tear. Home warranties don't include natural disasters, pre-existing conditions, cosmetic issues, or misuse of 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

Home warranties use several terms that you'll want to understand before signing a contract, such as:

• Deductible: The amount you pay toward a covered repair before the warranty covers the rest. Some plans have per-claim or yearly deductibles.
• Trade call fee: An added fee that you'll sometimes need to pay for appliance-related claims.
• Coverage limits: Dollar limits that cap how much the warranty will pay for certain repairs or replacements. Check limits on air conditioning units, appliances, roof leaks, and similar repairs.
• Endorsements: Optional add-on coverage for systems such as well pumps, septic, pools and more. Endorsements typically come with an additional fee.
• Claim approval: The process by which your provider determines whether a requested repair or replacement is covered under your warranty.
• 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.
• Service fee: The amount you pay our of pocket per claim for access to a contractor and repair coverage.

If you remember these terms and key factors, it’ll help you understand costs and select a home warranty tailored to protecting your most essential home systems. Make sure to talk to companies about the specifics of coverage during the quote process, so you can avoid unexpected fees.

Key Factors in Choosing a Home Warranty Company

There are several important considerations when choosing a home warranty provider:

Coverage Options

Home warranties have significant variation in what they include. Basic plans typically include plumbing, electrical, AC, heating, and appliances, while more comprehensive options may also cover pools, spas, roof leaks, and well pumps. Focus on companies with an expansive array of coverage choices including upgraded plans. This flexibility enables you to customize protection for your needs.

Service Fees

Expect to pay a per-service fee of $60-100 for each home warranty claim. With these per-request costs adding up over time as you file claims, you may want to choose a provider with more affordable fees to maximize savings. Some providers also eliminate deductibles when customers have a claim-free period.

Reputation

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

Contractor Network

Home warranty companies have networks of technicians that they use to tackle covered repairs. Larger networks improve the probability of getting qualified contractors to your home promptly. Contact possible providers to ask how many technicians they have in Beverly to understand how long repairs might take in an urgent situation.

Added Benefits

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

Is a Home Warranty Worth it in Beverly?

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Benefits of a Home Warranty

Temperatures in Beverly can drop to the negatives in the winter, which means your heating system is likely to get a lot of use. As a homeowner in Beverly, one of the benefits of having a home warranty is knowing that these home systems and major appliances can be covered if they have 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 service technicians by yourself, home warranty providers do the work for you and send pre-screened technicians right to your door when you need them. Another benefit of 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 help your house sell faster.

Downsides of a Home Warranty

Home warranties also have some downsides. Although it can save you time when the home warranty sends out a repair person who handles the repair for you, some may not like this, and they would prefer to select a contractor themselves. If that’s important to you, some home warranty plans allow you to select a contractor.

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