6 Best Home Warranty Companies in Addison, IL

How Does a Home Warranty Work?

A home warranty is a protection plan that helps lower expenses for Addison homeowners needing appliance and system repairs. These plans provide coverage to fix or replace appliances and systems that break due to normal wear and tear.

Homeowners submit a claim and pay a service fee when something breaks. The home warranty company then finds a contractor to make the fix or replacement. The only time you may pay out-of-pocket is if the cost of the 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 particularly helpful for owners of older houses or houses with systems near the end of their life span. However, people with newer homes and functioning appliances may not need a home warranty.

What Does a Home Warranty Cover?

Home warranties cover many household systems and appliances. Warranties usually cover appliances such as dryers, refrigerators, dishwashers, washers, garbage disposals, microwaves, and more. Covered systems include air conditioning, plumbing, heating, and electrical. Many home warranty companies also provide additional coverage for locksmiths, roof leaks, septic systems, and central vacuums. Addison homeowners should know that most home warranty policies have a 30-day waiting period before they can be used to cover repairs. Additionally, policies typically only cover repairs and replacements needed due to normal wear and tear. Home warranties don't cover things like cosmetic issues, natural disasters, pre-existing conditions, or misuse of a system or appliance. Make sure to keep up with preventative maintenance to ensure that your next repair or replacement is covered by the policy.

Key Home Warranty Terms to Know

Home warranty contracts use several terms that you'll want to learn before signing, such as:

• 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.
• Trade call fee: An additional fee that's sometimes required to appliance-related claims.
• Endorsements: Optional add-on coverage for systems such as well pumps, pools, septic and more. Endorsements typically come with an additional fee.
• Coverage limits: The maximum dollar amount that your warranty provider will pay for certain repairs or replacements. Check your contract's limits on repairs for things like appliances, air conditioning units, and roof leaks.
• Service fee: The amount you pay our of pocket per claim for access to a contractor and repair coverage.
• 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 providers use to determine whether a requested repair or replacement is covered under a home warranty plan.

If you remember these terms and key factors, it’ll help you choose a home warranty that's tailored to protecting your most vital home systems. Make sure to talk to companies about coverage specifics during the quote process, so you can avoid unexpected fees.

Key Factors in Choosing a Home Warranty Company

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

Coverage Options

Home warranty plans vary widely in what they include. Most plans cover heating, plumbing, AC, electrical, and appliances. More inclusive options also include coverage for other items such as pools, spas, roof leaks, and well pumps. Look for companies with a range of coverage choices, such as upgraded plans. You'll want to tailor your protection for your home’s needs.

Service Fees

You'll pay a repair fee, normally ranging from $60–100 for each claim filed with your home warranty provider. These fees to accumulate quickly with each claim, so you may look for providers advertising lower service fees to optimize savings on each repair claim. Certain companies may eliminate deductibles if homeowners don't submit any claims within a set period of time.

Reputation

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

Contractor Network

Home warranty companies use networks of local repair technicians to manage repairs in a given area. Contact potential companies to learn the number of repair technicians they have in Addison and get an idea of how fast your repairs could be handled in an emergency. Bigger networks raise the chance of getting qualified contractors to quickly service your home.

Added Benefits

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

Is a Home Warranty Worth it in Addison?

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Benefits of a Home Warranty

Since temperatures in Addison can be quite cold in the winter, the weather can put a lot of strain on your HVAC system. Getting a home warranty policy can help homeowners save money if one of these systems or appliances stops working all of a sudden.

A home warranty also can also save you time and energy. Instead of spending hours researching and choosing a contractor to fix your appliance or system, home warranty companies do the hard work for you and send a trusted professional to your door whenever you need them. A home warranty can also have value in other ways. For example, some plans can be transferred to another owner during a home sale.

Downsides of a Home Warranty

As for the drawbacks of home warranties, coverage varies by provider, so it’s important to review what each plan covers and doesn’t include in the contract.

Another downside is that home warranties may exclude some repairs, such as those due to natural disasters. For example, if your house floods, the affected systems and appliances most likely won’t be covered by the home warranty.