6 Best Home Warranty Companies in Oak Forest, IL

How Does a Home Warranty Work?

A home warranty is a protection plan that helps Oak Forest homeowners in reducing the costs of appliance and system repairs. The plans offer financial coverage to replace or repair appliances and systems that break down due to normal wear and tear.

When something stops working, you file a claim and pay a service fee. The home warranty company then arranges a contractor to handle the replacement or repair. Homeowners may have out-of-pocket costs only if the repair or replacement costs exceed the item's coverage limit. A home warranty gives homeowners reassurance, as it helps avoid high-priced emergency repairs. The coverage is especially helpful for buyers of older houses or houses with fixtures near the end of their life span. However, people with newer homes and working appliances may not require a home warranty.

What Does a Home Warranty Cover?

Home warranties help protect both your home systems and appliances. Common covered appliances include dishwashers, garbage disposals, dryers, washers, microwaves, refrigerators, and others. Covered systems include air conditioning, electrical, heating, and plumbing. Many home warranty plans offer additional add-on coverage options for central vacuums, locksmiths, septic systems, and even roof leaks. Oak Forest homeowners should know that most home warranty plans impose a 30-day waiting period before repairs are covered. Additionally, most policies only cover repairs and replacements resulting from normal wear and tear. Home warranties don't include natural disasters, pre-existing conditions, cosmetic issues, or improperly using a system or appliance. Make sure to keep up with preventative maintenance to help ensure your next repair or replacement is covered.

Key Home Warranty Terms to Know

Here are some essential home warranty words to understand before signing a contract:

• Contract rate: A pre-negotiated rate that your home warranty provider has worked out with contractors. This rate is typically less than what you would pay retail.
• Deductible: The amount you pay toward a covered repair before the warranty covers the rest. Some plans have per-claim or yearly deductibles.
• Coverage limits: Dollar limits that cap how much the warranty will pay for certain repairs or replacements. Check limits on appliances, roof leaks, air conditioning units, and similar repairs.
• Endorsements: Optional add-ons that expand coverage for additional systems like well pumps, septic, pools, and more. Endorsements typically cost an additional fee.
• Trade call fee: An additional fee that's sometimes required to appliance-related claims.
• Claim approval: The process by which your provider determines whether a requested repair or replacement is covered under your warranty.
• Service fee: The amount you pay our of pocket per claim for access to a contractor and repair coverage.

Keeping these terms and key points in mind will help you understand pricing and pick a home warranty designed to protect your most important home systems. Be sure to discuss coverage details with potential companies when getting a quote, so you can avoid surprise fees.

Key Factors in Choosing a Home Warranty Company

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

Coverage Options

Home warranty coverage can have major differences in what's included. Most plans provide coverage for AC, plumbing, electrical, heating, and appliances. More robust coverage options also cover other items such as spas, roof leaks, pools, and well pumps. Look for providers with an assortment of coverage options, such as upgraded plans. Flexibility helps you tailor your protection for your home’s needs.

Service Fees

With any home warranty claim, you'll pay a service fee that can range from $60 to $100, which is paid per claim you submit. These per-claim charges can add up. You may decide to look for providers with more affordable fees to maximize your savings on each claim. Some providers also offer disappearing deductibles when customers go a period with no claims filed.

Reputation

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

Contractor Network

Home warranty companies use networks of local repair contractors to manage repairs in a given area. Contact potential providers to ask how many repair technicians they have in Oak Forest and get an idea of how quickly your repairs could be handled in an emergency. Larger networks raise the likelihood of getting qualified contractors to swiftly service your home.

Added Benefits

Home warranty providers might include bonuses such as maintenance discounts, energy efficiency upgrades, and coverage for smart home devices. These can add value beyond repair coverage. Added perks can maximize the usefulness of your home warranty.

Is a Home Warranty Worth it in Oak Forest?

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Benefits of a Home Warranty

Home warranty plans are an inexpensive way to protect your home systems and appliances from normal wear and tear. With temperatures in Oak Forest hitting an average high of 57℃F, you may find that certain appliances, such as your air conditioning system, get a lot of use. A home warranty can remarkably bring down out-of-pocket expenses should your HVAC system break down.

A home warranty also saves you time and energy. Instead of spending hours finding and selecting a repair person to fix your appliance or system, home warranty providers do the hard work for you and send a trusted professional to your door whenever you need them. Additionally, having a home warranty can make your house more attractive to potential homebuyers should you ever decide to sell in the future. Many home warranty providers will allow you to transfer your policy to a new owner and give them the same protection you’ve been benefiting from.

Downsides of a Home Warranty

There are also some negatives to purchasing a home warranty policy, such as the coverage exclusions. For instance, home warranties may not cover systems or appliances that already have a manufacturer's warranty.

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