6 Best Home Warranty Companies in Toms River, NJ

How Does a Home Warranty Work?

A home warranty is a protection policy that helps Toms River homeowners cut the costs of appliance and system repairs. The plans provide financial coverage to repair or replace appliances and systems that stop working due to normal wear and tear.

When something breaks down, you file 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 goes over the item's coverage limit. A home warranty gives homeowners peace of mind, as it helps avoid high-priced emergency repairs. The coverage is especially helpful for those living in older houses or houses with fixtures near the end of their life span. However, people with newer homes and modern appliances may not need a home warranty.

What Does a Home Warranty Cover?

Home warranties protect many home systems and appliances. Common covered appliances include dryers, refrigerators, washers, dishwashers, microwaves, garbage disposals, and others. Covered systems include plumbing, air conditioning, heating, and electrical. Many home warranty plans offer additional coverage for septic systems, central vacuums, roof leaks, and even locksmiths. Toms River should understand that most home warranty plans have a waiting period of 30 days before repairs are covered. 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 ensure your next repair or replacement is covered.

Key Home Warranty Terms to Know

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

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

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

Key Factors in Choosing a Home Warranty Company

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

Coverage Options

Home warranties vary widely in terms of included coverage. Basic plans typically include plumbing, AC, heating, electrical, and appliances, while more comprehensive options may also cover roof leaks, spas, well pumps, and pools. Focus on providers with wide-ranging coverage selections 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. 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 companies also do away with deductibles for homeowners who don't file claims in a certain period.

Reputation

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

Contractor Network

Home warranty companies keep networks of professionals to handle covered repairs. Wider networks increase the likelihood of getting qualified technicians to promptly service your home. Contact potential providers to find out how many contractors they have in Toms River to get a sense of how soon your repairs could be handled in an emergency.

Added Benefits

Certain home warranty companies provide extras such as discounts on maintenance, protection for smart home devices, and energy-efficient upgrades. These provide extra value beyond repair coverage. Added perks can enhance your home and maximize your home warranty.

Is a Home Warranty Worth it in Toms River?

---

Benefits of a Home Warranty

Temperatures in Toms River 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 Toms River, one of the benefits of having a home warranty is that these home systems and major appliances can be covered if they have to be repaired or replaced.

Plus, having a home warranty can save you time by removing the need to research technicians — most providers will send a trusted professional right to your door to carry out the necessary repair or replacement. Another good thing about having a home warranty is while selling your home, you can most likely transfer your home warranty policy to the new owners. This can make your home more attractive to potential homebuyers and may help your home sell faster.

Downsides of a Home Warranty

Home warranties also have some downsides. While it can be convenient that the home warranty sends out a service technician who handles the repair for you, some people may not like this, and they would prefer to choose their own contractor. If that’s the case for you, some home warranty providers allow you to select a contractor.

Another consideration is that home warranties usually only cover repairs needed due to normal wear and tear. They most likely won’t cover systems or appliances that have been damaged due to natural disasters, improper maintenance, animal infestations, etc.