6 Best Home Warranty Companies in Rolling Meadows, IL

How Does a Home Warranty Work?

A home warranty is a protection plan that helps cut costs for Rolling Meadows homeowners needing appliance and system repairs. These plans provide financial coverage to fix or replace appliances and systems that stop working due to normal wear and tear.

Homeowners file 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 repair or replacement costs go over the item's coverage limit. A home warranty provides peace of mind for homeowners by helping them prevent expensive emergency fixes. They're particularly valuable for those who own older homes or ones with aging systems. Newer builds with modern appliances probably don’t require a home warranty.

What Does a Home Warranty Cover?

Home warranties help protect both your home systems and appliances. Common appliances covered under a home warranty include garbage disposals, refrigerators, washers, dishwashers, microwaves, dryers, and more. Covered systems include electrical, plumbing, air conditioning, and heating. Many home warranty plans offer additional add-on coverage options for locksmiths, septic systems, central vacuums, and even roof leaks. Rolling Meadows homeowners should know that most home warranty policies have a 30-day period you must wait before they can be used to cover repairs. Additionally, most policies only cover repairs and replacements that result from normal wear and tear. Home warranties don't cover things like natural disasters, pre-existing conditions, cosmetic issues, or improper use of a system or appliance. It's important 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:

• Service fee: The out-of-pocket cost per claim that you pay for contractor access and repair coverage.
• Endorsements: Optional add-on coverage for systems such as well pumps, pools, septic and more. Endorsements typically come with an additional fee.
• 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.
• 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 added fee that you'll sometimes need to pay for appliance-related claims.
• Claim approval: The process providers use to determine whether a requested repair or replacement is covered under a home warranty plan.
• Coverage limits: How much money your warranty provider will pay for specific repairs or replacements. Check limits on repairs for things like appliances, air conditioning units, and roof leaks.

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

Key Factors in Choosing a Home Warranty Company

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

Coverage Options

Home warranty policies differ significantly in terms of coverage. Most plans provide protection for AC, plumbing, electrical, heating, and appliances. More inclusive options also include coverage for other items such as well pumps, pools, roof leaks, and spas. Look for providers with an assortment of coverage options, such as upgraded plans. Flexibility helps you tailor your protection for your needs.

Service Fees

Homeowners should anticipate paying a $60–100 service fee when filing home warranty claims. These per-repair charges can potentially accumulate over time, so some homeowners prefer using companies with lower service fees to maximize savings. Some providers also offer disappearing deductibles when a homeowner goes a defined period without any repair requests.

Reputation

A home warranty company's reputation gives you insight into things such as contractor quality, timeliness of repairs, claim approval rates, 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 company known for stellar service.

Contractor Network

Home warranty providers use networks of local repair technicians to manage repairs in a given area. Contact potential providers to learn the number of repair technicians they have in Rolling Meadows and get an idea of how fast your repairs could be handled in an emergency. Larger networks raise the likelihood of getting qualified contractors to swiftly service your home.

Added Benefits

Some home warranty companies offer bonuses such as maintenance discounts, energy efficiency upgrades, and smart home device protection. These add value beyond repair coverage. Added bonuses can maximize the usefulness of your home warranty.

Is a Home Warranty Worth it in Rolling Meadows?

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Benefits of a Home Warranty

Temperatures in Rolling Meadows can vary greatly throughout the year, which means your air conditioner and heating systems are most likely going to get a lot of use. As a homeowner in Rolling Meadows, one benefit 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.

A home warranty also can also save you time and energy. Instead of spending hours researching and selecting a technician 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. Another added benefit of having home warranty coverage is that it can increase 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 have your home warranty with.

Downsides of a Home Warranty

One disadvantage of purchasing a home warranty is that there are generally exclusions. For instance, if you already have a manufacturer's warranty on one of your appliances, it may not be included in the home warranty, so it’s important to read through the contracts you’re considering carefully to get a sense of what is included and what isn’t.

Additionally, 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.