4 Best Home Warranty Companies in Shorewood, WI

How Does a Home Warranty Work?

A home warranty is a protection plan that assists Shorewood homeowners cut the expenses of appliance and system repairs. The plans provide 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 fix 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 plan gives homeowners peace of mind because it can help avoid expensive emergency repairs. They can be especially helpful for buyers of older homes or homes with systems near the end of their life span. However, newer homes with modern appliances and fixtures may not require a home warranty.

What Does a Home Warranty Cover?

Home warranties cover many home systems and appliances. Warranties usually cover appliances such as microwaves, garbage disposals, refrigerators, dishwashers, dryers, washers, and more. Covered systems include electrical, heating, plumbing, and air conditioning. Many home warranty companies also offer additional coverage for septic systems, central vacuums, locksmiths, and roof leaks. It's important for Shorewood homeowners to understand most home warranty plans have a waiting period of 30 days before repairs are covered. Most policies also only cover repairs and replacements due to normal wear and tear. Home warranties don't include natural disasters, pre-existing conditions, cosmetic issues, or improperly using a system or appliance. Stay current with preventative maintenance to help guarantee your next repair or replacement is covered.

Key Home Warranty Terms to Know

Before agreeing to a home warranty contract, you should understand key terms like:

• 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: How much money your warranty provider will pay for specific repairs or replacements. Check limits on repairs for things like air conditioning units, roof leaks, and appliances.
• 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 added fee that you'll sometimes need to pay for appliance-related claims.
• Service fee: The out-of-pocket cost you pay per claim for access to a contractor and repair coverage.
• Endorsements: Additional coverage for systems like pools, septic, and well pumps, which usually comes with a fee for each add-on.

Keeping these terms and key points in mind will help you understand home warranty contracts and pricing, so you can pick the right plan and protect your most important home systems. Discuss coverage details with potential providers when you get a quote to avoid surprise fees.

Key Factors in Choosing a Home Warranty Company

There are several important considerations when choosing a home warranty provider:

Coverage Options

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

Service Fees

With any home warranty claim, you'll pay a service fee, usually falling in the $60 to $100 range, which is paid per claim you submit. The per-request costs 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 if a homeowner doesn't submit claims for repairs for a specified period of time.

Reputation

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

Contractor Network

Home warranty companies use networks of local repair technicians to manage repairs in a given area. Contact potential providers to learn the number of repair specialists they have in Shorewood and get an idea of how fast your repairs could be handled in an emergency. Wider networks improve the chance 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 add value beyond just repair coverage. Added bonuses maximize the usefulness of your home warranty.

Is a Home Warranty Worth it in Shorewood?

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Benefits of a Home Warranty

Since temperatures in Shorewood can hit the negatives in the winter, the extreme weather can put a lot of strain on your heating system. Having a home warranty plan can help homeowners save money if one of these systems or appliances stops working suddenly.

Not only can a home warranty save you some money on repairs and replacements, it saves you time too. Instead of having to vet service technicians by yourself, home warranty providers do the work for you and send a contractor from their network right to your door when you need them. A home warranty can also have value in other ways. For example, some plans can be transferred between owners when you sell your home.

Downsides of a Home Warranty

One disadvantage of a home warranty is that there are usually 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 through any contracts you’re considering thoroughly to understand what is included and what isn’t.

Another drawback is that home warranties may not include some repairs, like those due to natural disasters. For example, if your house floods, the affected systems and appliances probably won’t be covered by the home warranty.