6 Best Home Warranty Companies in Riverdale, IL

How Does a Home Warranty Work?

A home warranty is a protection plan that assists Riverdale homeowners reduce the costs of appliance and system repairs. The plans offer financial coverage to fix or replace appliances and systems that malfunction due to normal wear and tear.

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

What Does a Home Warranty Cover?

Home warranties help protect your home systems and appliances. Common appliances covered under a home warranty include dryers, garbage disposals, refrigerators, dishwashers, washers, microwaves, and others. Covered systems include electrical, air conditioning, heating, and plumbing. Many home warranty plans offer additional add-on coverage options for locksmiths, central vacuums, septic systems, and even roof leaks. Riverdale should understand that most home warranty plans have a 30-day waiting period before repair claims will be approved. The majority of 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 misusing a system or appliance. Be diligent about completing 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 learn key terms like:

• Claim approval: The process by which your provider determines whether a requested repair or replacement is covered under your warranty.
• Deductible: The amount you pay toward a covered repair before the warranty covers the rest. Some plans have per-claim or yearly deductibles.
• Endorsements: Optional add-on coverage for systems such as well pumps, septic, pools and more. Endorsements typically come with an additional fee.
• Service fee: The out-of-pocket cost per claim that you pay for contractor access and repair coverage.
• 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 roof leaks, appliances, and air conditioning units.
• 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.

If you remember these important factors, it’ll help you understand costs and select a home warranty tailored to protecting your most vital home systems. Make sure to talk to providers about the specifics of coverage during the quote process, so you can avoid unexpected fees.

Key Factors in Choosing a Home Warranty Company

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

Coverage Options

Home warranty coverage varies, although most plans cover plumbing, AC, heating, electrical, and appliances. More extensive plans may also include additional items such as pools, spas, well pumps, and roof leaks. Look for companies 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, usually falling in the $60 to $100 range, which gets 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 if a homeowner doesn't submit claims for repairs for a specified period of time.

Reputation

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

Contractor Network

Home warranty businesses maintain networks of local professionals to handle repairs in your area. Contact potential providers to find out how many repair contractors they have in Riverdale and get an idea for how fast your repairs could take place in an emergency situation. Wider networks raise the chances of getting qualified contractors to swiftly service your home.

Added Benefits

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

Is a Home Warranty Worth it in Riverdale?

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Benefits of a Home Warranty

Riverdale’s cold winters can put a strain on a home’s HVAC system. Whether it’s summer or winter, a home warranty is designed to cover your home’s appliances and systems if they need to be repaired or replaced. For example, if your air conditioner fails in the middle of July, a home warranty can cover the needed repairs, saving you from spending unexpected money out of pocket.

Not only can a home warranty save you some money on repairs and replacements, it saves you time as well. Instead of having to vet 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 property 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 company you purchased your home warranty through.

Downsides of a Home Warranty

One disadvantage of getting a home warranty is that there are generally exclusions. For example, 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 over the contracts you’re considering carefully to get a sense of what is included and what isn’t.

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