6 Best Home Warranty Companies in Newport, RI

How Does a Home Warranty Work?

A home warranty is a protection plan that assists Newport homeowners in lowering the costs of appliance and system repairs. The plans provide coverage to swap out or repair appliances and systems that stop working due to normal wear and tear.

When something stops working, you file a claim and pay a service fee. The home warranty provider then finds 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 policy gives homeowners a sense of security because it can help avoid costly emergency repairs. They can be especially helpful for buyers of older homes or homes with appliances near the end of their life span. However, newer homes with modern appliances and fixtures may not need a home warranty.

What Does a Home Warranty Cover?

Home warranties cover many household systems and appliances. Typical covered appliances are washers, microwaves, garbage disposals, refrigerators, dryers, dishwashers, and others. Protected systems include air conditioning, electrical, heating, and plumbing. Many home warranty plans offer additional coverage for roof leaks, septic systems, central vacuums, and even locksmiths. It's important for Newport homeowners to understand most home warranty plans have a 30-day waiting period before repair claims will be approved. The majority of policies also only cover repairs and replacements due to normal wear and tear. Home warranties don't include natural disasters, cosmetic issues, pre-existing conditions, 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

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

• 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: How much money your warranty provider will pay for specific repairs or replacements. Check limits on repairs for things like roof leaks, air conditioning units, and appliances.
• 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.
• Endorsements: Optional add-ons that expand coverage for additional systems like well pumps, pools, septic, and more. Endorsements typically cost an additional fee.
• Claim approval: The process a provider uses to validate that a requested repair or replacement is covered under your plan.
• 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 a home warranty customized to protecting your most essential home systems. During the quoting process, take care to 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 choosing a home warranty provider:

Coverage Options

Home warranty policies can have major differences in covered items. Most plans cover heating, AC, plumbing, electrical, and appliances. More robust plans also offer protection for other items such as pools, well pumps, roof leaks, and spas. Look for companies with an assortment of coverage options, such as upgraded plans. You'll want to tailor your protection for your home’s needs.

Service Fees

Homeowners should anticipate paying a $60–100 service fee when filing home warranty claims. These per-claim costs can add up, so some homeowners prefer using providers with lower service fees to maximize savings. Some companies also offer disappearing deductibles after periods where a customer files no claims.

Reputation

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

Contractor Network

Home warranty companies maintain networks of contractors to handle covered repairs. Bigger 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 Newport to get a sense of how soon your repairs could happen in an emergency.

Added Benefits

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

Is a Home Warranty Worth it in Newport?

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Benefits of a Home Warranty

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

Not only can a home warranty save you money on repairs and replacements, it saves you time as well. Instead of vetting contractors yourself, home warranty companies do the work for you and send pre-screened technicians right to your door when you need them. A home warranty can also give value in other ways. For example, some plans can be transferred between owners during a home sale.

Downsides of a Home Warranty

One drawback of a home warranty is that there are generally exclusions. For example, if you already have a manufacturer's warranty on one of your appliances, it may be excluded from 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.

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