6 Best Home Warranty Companies in Malden, MA

How Does a Home Warranty Work?

A home warranty is a protection plan that helps Malden homeowners lower the expenses of appliance and system repairs. The plans provide financial coverage to repair 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 arranges 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 reassurance, as it helps avoid expensive emergency repairs. The coverage is particularly helpful for those living in older houses or houses with fixtures near the end of their life span. However, people with newer homes and functioning appliances may not require a home warranty.

What Does a Home Warranty Cover?

Home warranties cover your home systems and appliances. Common appliances covered include dryers, dishwashers, refrigerators, washers, microwaves, garbage disposals, and more. Included systems are usually air conditioning, plumbing, heating, and electrical. Many home warranty companies offer add-on coverage for septic systems, locksmiths, roof leaks, and central vacuums. It's important for Malden 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 due to normal wear and tear. Home warranties don't include cosmetic issues, pre-existing conditions, natural disasters, or misusing 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

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

• Coverage limits: The maximum dollar amount that your warranty provider will pay for certain repairs or replacements. Check your contract's limits on repairs for things like roof leaks, air conditioning units, and appliances.
• Trade call fee: An added fee that you'll sometimes need to pay for appliance-related claims.
• Endorsements: Additional coverage for systems like pools, septic, and well pumps, which usually comes with a fee for each add-on.
• Claim approval: The process by which your provider determines whether a requested repair or replacement is covered under your warranty.
• Service fee: The out-of-pocket cost per claim that you pay for contractor access and repair coverage.
• Contract rate: The pre-negotiated rate a home warranty company has with its contractors. This rate is usually less than typical retail costs.
• Deductible: The amount you're responsible for before your warranty covers the remainder of the cost. Deductibles apply to covered repairs and may be on a per-claim or yearly basis.

Keeping these important details in mind will help you understand a home warranty contract and select a plan that's tailored to protect your most important home systems. Make sure you discuss specifics of coverage with potential providers during the quote process, so you can avoid unexpected fees.

Key Factors in Choosing a Home Warranty Company

When selecting a home warranty provider, there are several key factors to consider:

Coverage Options

Home warranties differ greatly in the items covered. Basic plans typically provide protection for plumbing, electrical, heating, AC, and appliances, while more comprehensive plans may also cover roof leaks, spas, pools, and well pumps. Look for providers with an assortment of coverage options, such as upgraded plans. You'll want to tailor your protection for your needs.

Service Fees

You'll pay a standard service fee of around $60 to $100 for each claim filed with your home warranty provider. These fees to accumulate quickly with each claim, so you may seek out companies advertising more affordable fees to optimize savings on each repair claim. Certain companies may eliminate deductibles when a homeowner submits no claims in a defined period.

Reputation

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

Contractor Network

Home warranty companies have networks of professionals to handle covered repairs. More extensive networks raise the probability of getting qualified technicians to swiftly service your home. Contact potential providers to find out how many contractors they have in Malden to get a sense of how soon your repairs could happen in an emergency.

Added Benefits

Home warranty companies often include bonuses such as coverage for smart home devices, maintenance discounts, and energy efficiency upgrades. These extras add value beyond repair coverage. Additional perks maximize the usefulness of the home warranty.

Is a Home Warranty Worth it in Malden?

---

Benefits of a Home Warranty

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

A home warranty also can also save you time and energy. Instead of spending hours researching and selecting a repair person to fix your appliance or system, home warranty companies do the hard work for you and send a trusted professional to your door whenever you need them. In addition, though it varies by company, some providers will allow you to transfer your warranty in the event that you sell your home. This can make your home more attractive to potential homebuyers and maybe even help your home sell faster.

Downsides of a Home Warranty

One downside of signing up for a home warranty is that there are often exclusions. For instance, if one of your appliances already has a manufacturer's warranty, it may not be covered under the home warranty, so it’s important to read over the contracts you’re considering thoroughly to get a sense of what is included and what isn’t.

Also, if you don’t maintain your home systems or appliances properly, or if they were damaged due to a natural disaster or animal infestation — anything other than normal wear and tear — the home warranty may not cover it.