6 Best Home Warranty Companies in Andover, MN

How Does a Home Warranty Work?

A home warranty is a protection policy that helps Andover homeowners lower the high costs of household repairs. These plans offer financial coverage to repair or swap out appliances and systems that break down from normal wear and tear.

Homeowners submit a claim and pay a service fee when something breaks. The home warranty provider then arranges a contractor to make the fix or replacement. The only time you may pay out-of-pocket is if the repair or replacement costs go over the item's coverage limit. A home warranty gives peace of mind to homeowners because it helps prevent costly emergency repairs. Home warranties are the most useful for older construction homes with aging systems. New homes with up-to-date appliances may not need a home warranty.

What Does a Home Warranty Cover?

Home warranties cover your home systems and appliances. Warranties usually cover appliances such as refrigerators, garbage disposals, microwaves, dryers, washers, dishwashers, and more. Covered systems include electrical, plumbing, heating, and air conditioning. Many home warranty providers also offer additional coverage for roof leaks, locksmiths, central vacuums, and septic systems. Andover homeowners should know that most home warranty plans have a 30-day waiting period before repairs are covered. What's more, most policies only cover the cost of 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. Remember to keep up with preventative maintenance to help make sure your next repair or replacement is covered.

Key Home Warranty Terms to Know

There are multiple home warranty terms to understand before signing an agreement, including:

• 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.
• Claim approval: The process by which your provider determines whether a requested repair or replacement is covered under your warranty.
• Contract rate: The pre-negotiated rate a home warranty company has with its contractors. This rate is usually less than typical retail costs.
• 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: Additional coverage for systems like pools, well pumps, and septic, which usually comes with a fee for each add-on.
• Trade call fee: An additional fee that's sometimes required to appliance-related claims.
• Service fee: The amount you pay our of pocket per claim for access to a contractor and repair coverage.

With these important considerations 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, make sure you review coverage details with potential providers, so you don't encounter any unexpected fees.

Key Factors in Choosing a Home Warranty Company

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

Coverage Options

Home warranty policies differ significantly in terms of coverage. Most plans cover plumbing, electrical, AC, heating, and appliances. More comprehensive options also include coverage for other items such as roof leaks, pools, well pumps, and spas. Look for a company that offers comprehensive coverage choices, including upgraded plans. You want the flexibility to customize coverage to fit your home's specific systems and needs.

Service Fees

Expect to pay a per-service fee of $60-100 for each home warranty claim. As this charge applies to every separate claim, you may want to choose a provider with more affordable fees to maximize savings on every claim. Some providers also eliminate deductibles when customers have a claim-free period.

Reputation

A home warranty company's reputation provides insights into factors such as claim approval rates, contractor expertise, repair speed, and customer satisfaction. Read through review sites like Google Reviews, TrustPilot, or the Better Business Bureau (BBB) to learn more about companies. Positive feedback and ratings suggest a company known for quality service.

Contractor Network

Home warranty companies use networks of local repair professionals to manage repairs in a given area. Reach out to potential companies to ask how many repair specialists they have in Andover and get an idea of how quickly your repairs could be handled in an emergency. Bigger networks raise the chance of getting qualified contractors to quickly service your home.

Added Benefits

Some home warranty companies include perks such as smart home device coverage, reduced maintenance fees, and energy efficiency upgrades. These can offer extra value beyond just repair coverage. Extra bonuses allow you to enhance your home and get the most from your home warranty.

Is a Home Warranty Worth it in Andover?

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Benefits of a Home Warranty

Home warranties are an inexpensive way to guard your home systems and appliances from normal wear and tear. With temperatures in Andover hitting an average high of 53℃F, you may find that some appliances, such as your air conditioning unit, get a lot of use. A home warranty can remarkably lower out-of-pocket expenses should your HVAC system break down.

Not only does a home warranty offer some savings, 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 deals with this process by sending trusted professionals to your door when you need them most. Additionally, having a home warranty can make your house more appealing to potential homebuyers should you ever decide to sell in the future. Many home warranty companies will allow you to transfer your plan to a new owner and give them the protection you’ve been benefiting from.

Downsides of a Home Warranty

There are also some negatives to buying a home warranty policy, like the coverage exclusions. For example, home warranties may not cover systems or appliances that are already covered under a manufacturer's warranty.

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