7 Best Home Warranty Companies in Flowood, MS

How Does a Home Warranty Work?

A home warranty is a protection plan that assists Flowood homeowners reduce the high costs of household repairs. These plans offer financial coverage to fix or swap out appliances and systems that stop working 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 repair 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 reassurance to homeowners because it helps prevent expensive emergency repairs. Home warranties are the most useful for older houses or those with aging systems. New homes with up-to-date appliances might not need a home warranty.

What Does a Home Warranty Cover?

Home warranties protect many home systems and appliances. Common covered appliances are washers, microwaves, dishwashers, dryers, garbage disposals, refrigerators, and others. Covered systems include air conditioning, heating, plumbing, and electrical. Many home warranty plans offer extra coverage for septic systems, central vacuums, roof leaks, and even locksmiths. Flowood homeowners should know that most home warranty plans begin with a 30-day waiting period before repairs are covered. What's more, most policies 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. You must keep up with preventative maintenance to help ensure your next repair or replacement is covered.

Key Home Warranty Terms to Know

There are a number of home warranty terms to understand before signing an agreement, including:

• Endorsements: Optional add-on coverage for systems such as pools, septic, well pumps and more. Endorsements typically come with an additional fee.
• 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.
• Claim approval: The process a provider uses to validate that a requested repair or replacement is covered under your plan.
• 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.
• Trade call fee: An additional fee that some companies charge for appliance-related claims.
• Service fee: The out-of-pocket cost per claim that you pay for contractor access and repair coverage.
• 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.

With these terms and key factors in mind, you'll be able to better understand pricing and choose a home warranty customized to protecting your most essential home systems. When getting a quote, make sure you review coverage details with potential companies, so you don't encounter any unexpected fees.

Key Factors in Choosing a Home Warranty Company

There are several key factors to consider when selecting a home warranty provider:

Coverage Options

Home warranty coverage varies, although most plans provide coverage for plumbing, electrical, AC, heating, and appliances. More comprehensive options may also include other things such as roof leaks, pools, well pumps, and spas. Look for a provider that offers an extensive selection of coverage options, including upgraded plans. Flexibility is important when trying to fit a home warranty to your home's specific 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 claim you submit. These per-claim charges can add up. You may decide to look for providers with lower service fees to maximize your savings on each claim. Some companies also offer disappearing deductibles for customers who don't file any claims over a certain timespan.

Reputation

A home warranty company's track record 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 TrustPilot, the Better Business Bureau (BBB), or Google Reviews to research providers. Favorable ratings and reviews indicate a company known for stellar service.

Contractor Network

Home warranty providers maintain networks of local technicians to handle repairs in your area. Reach out to potential providers to learn how many repair technicians they have in Flowood and get an idea for how quickly your repairs might happen in an emergency situation. Larger networks increase the chances of getting qualified contractors to promptly service your home.

Added Benefits

Some home warranty providers include bonuses such as energy efficiency upgrades, smart home device protection, and maintenance discounts. These perks can add value beyond repair coverage. Extra bonuses can maximize the usefulness of your home warranty.

Is a Home Warranty Worth it in Flowood?

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Benefits of a Home Warranty

Flowood’s hot summers can put a strain on a home’s HVAC system. Whether it’s summer or winter, a home warranty will cover your home’s appliances and systems if they need to be repaired or replaced. For example, if your air conditioner fails in the middle of July, a home warranty can cover the needed repairs, saving you from spending unexpected money out of pocket.

Not only does a home warranty provide some savings, but it also saves you time. If an appliance breaks, the last thing you want to do is find a technician and schedule a repair. A home warranty takes care of the research by sending trusted professionals to your door when you need them most. Additionally, though it varies by company, some providers will let you transfer your warranty if you sell your home. This can make your property 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 example, if you already have a manufacturer's warranty on one of your appliances, it may not be included in the home warranty, so it’s important to read through any contracts you’re considering carefully to get a sense of what is included and what isn’t.

Another thing to take into consideration is that some providers don’t cover pre-existing conditions and may require an inspection before your coverage can start. Ask the home warranty provider for clarification about these things if you need more information or if this is a problem for you.