6 Best Home Warranty Companies in River Grove, IL

How Does a Home Warranty Work?

A home warranty is a protection plan that helps reduce the high costs for River Grove 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 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 go over the item's coverage limit. A home warranty gives homeowners reassurance by helping avoid expensive emergency repairs. The coverage is especially helpful for those living in older houses or houses with fixtures near the end of their life span. However, homeowners with newer homes and modern appliances might not need a home warranty.

What Does a Home Warranty Cover?

Home warranties cover many home systems and appliances. Warranties usually cover appliances such as microwaves, dishwashers, dryers, refrigerators, garbage disposals, washers, and more. Covered systems include plumbing, air conditioning, heating, and electrical. Many home warranty companies also provide additional coverage for locksmiths, central vacuums, roof leaks, and septic systems. River Grove homeowners should know that most home warranty plans begin with a 30-day waiting period before repairs are covered. Additionally, most policies only address 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. 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 terms to understand before signing a contract:

• Trade call fee: An additional fee that some companies charge for appliance-related claims.
• Endorsements: Optional add-on coverage for systems such as well pumps, septic, pools and more. Endorsements typically come with an additional fee.
• 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.
• Claim approval: The process providers use to determine whether a requested repair or replacement is covered under a home warranty plan.
• Service fee: The out-of-pocket cost you pay per claim for access to a contractor and repair coverage.
• Deductible: How much you pay for a covered repair before your warranty covers the rest. Deductibles can be per-claim or yearly.
• 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.

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. 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 policies differ significantly in terms of coverage. Most plans provide protection for heating, electrical, AC, plumbing, and appliances. More inclusive options also extend protection to other items such as spas, well pumps, roof leaks, and pools. Look for providers with an assortment of coverage options, such as upgraded plans. You'll want to tailor your protection for your 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 companies with more affordable per-claim fees to maximize savings. Some providers also offer disappearing deductibles after periods where a customer files no claims.

Reputation

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

Contractor Network

Home warranty companies have networks of professionals that they use to tackle covered repairs. More extensive networks raise the likelihood of getting skilled contractors to your home quickly. Reach out to possible providers to ask how many contractors they have in River Grove. This helps you understand how long repairs could take in an urgent situation.

Added Benefits

Some home warranty companies include perks such as energy efficiency upgrades, reduced maintenance fees, and smart home device coverage. These can provide extra value beyond just repair coverage. Added bonuses allow you to enhance your home and get the most from your warranty policy.

Is a Home Warranty Worth it in River Grove?

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Benefits of a Home Warranty

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

Not only can a home warranty give you some financial relief, but it also saves you time. If an appliance breaks down, the last thing you want to do is find a contractor and schedule a repair. A home warranty deals with this process by sending trusted professionals to your door when you need them most. Additionally, though home warranty companies vary, some providers will let you transfer your warranty if you sell your home. This can make your house more attractive to potential homebuyers and help your home sell faster.

Downsides of a Home Warranty

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

Another consideration is that home warranties usually only cover damage from normal wear and tear. They often won’t cover home systems or appliances that have stopped working due to improper maintenance, animal infestations, natural disasters, etc.