6 Best Home Warranty Companies in Homer, IL

How Does a Home Warranty Work?

A home warranty is a protection policy that helps cut costs for Homer homeowners needing appliance and system repairs. These plans provide financial coverage to repair or swap out appliances and systems that stop working due to 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 exceed the item's coverage limit. A home warranty provides security for homeowners by helping them prevent expensive emergency repairs. They're particularly valuable for those who own older homes or ones with aging systems. More modern builds with working fixtures probably don’t need a home warranty.

What Does a Home Warranty Cover?

Home warranties cover your home systems and appliances. Common covered appliances are dishwashers, microwaves, dryers, washers, refrigerators, garbage disposals, and more. Covered systems are typically plumbing, electrical, air conditioning, and heating. Many home warranty providers offer add-on coverage for septic systems, central vacuums, roof leaks, and locksmiths. Homer 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 the cost of repairs and replacements resulting from normal wear and tear. Home warranties don't include cosmetic issues, natural disasters, pre-existing conditions, or misusing a system or appliance. Make sure to keep up with preventative maintenance to help make sure your next repair or replacement is covered.

Key Home Warranty Terms to Know

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

• Claim approval: The process a provider uses to validate that a requested repair or replacement is covered under your plan.
• Contract rate: The pre-negotiated rate a home warranty company has with its contractors. This rate is usually less than typical retail costs.
• Endorsements: Additional coverage for systems like pools, well pumps, and septic, which usually comes with a fee for each add-on.
• 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.
• Coverage limits: How much money your warranty provider will pay for specific repairs or replacements. Check limits on repairs for things like roof leaks, appliances, and air conditioning units.
• 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.

Keeping these terms and key factors in mind will help you understand costs and select a home warranty that's tailored to protect your most important home systems. 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 key factors to consider when choosing a home warranty provider:

Coverage Options

Home warranty coverage can have major differences in what's included. Most plans provide coverage for AC, electrical, plumbing, heating, and appliances. More comprehensive plans also cover other items such as pools, roof leaks, spas, 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 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, some homeowners prefer to choose a provider with more affordable fees to maximize savings on every claim. Some providers also remove deductibles if a customer goes a period of time without filing any claims.

Reputation

A home warranty company's reputation provides insight into things such as timeliness of repairs, claim approval rates, contractor quality, and overall customer satisfaction. Use third-party review sites such as the Better Business Bureau (BBB), TrustPilot, or Google Reviews to research providers. Complimentary reviews and ratings indicate a provider known for stellar service.

Contractor Network

Home warranty providers keep networks of technicians to handle covered repairs. Bigger networks improve the likelihood of getting qualified technicians to swiftly service your home. Ask potential providers how many contractors they have in Homer to get a sense of how soon your repairs could be handled in an emergency.

Added Benefits

Certain home warranty providers include perks such as discounts on maintenance, protection for smart home devices, and energy-efficient upgrades. These can offer extra value beyond repair coverage. Added perks help improve your home and maximize your home warranty.

Is a Home Warranty Worth it in Homer?

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Benefits of a Home Warranty

Since temperatures in Homer can be quite cold in the winter, the weather can put a lot of strain on your HVAC system. Buying a home warranty policy can help homeowners save money if one of these systems or appliances breaks down unexpectedly.

Not only can a home warranty save you money on repairs and replacements, it saves you time as well. Instead of vetting service technicians by yourself, home warranty providers do the work for you and send pre-screened technicians right to your door when you need them. Another added benefit of having home warranty coverage is that it can raise your home’s real estate value. If you ever decide to sell your home, you may be able to transfer your home warranty plan to the new homebuyer depending on the provider you purchased your home warranty through.

Downsides of a Home Warranty

There are also some negatives to getting a home warranty plan, such as the coverage exclusions. For example, home warranties may not cover home systems or appliances that are already covered by a manufacturer's warranty.

Also, if you don’t maintain your home systems or appliances properly, or if they need repairs or replacements due to a natural disaster or animal infestation — anything other than normal wear and tear — the home warranty may not cover it.