6 Best Home Warranty Companies in Franklin Park, NJ

How Does a Home Warranty Work?

A home warranty is a protection policy that assists Franklin Park homeowners in lowering the costs of appliance and system repairs. The plans offer financial coverage to swap out or repair appliances and systems that stop working due to normal wear and tear.

When something stops working, you file a claim and pay a service fee. The home warranty provider then finds a contractor to handle the replacement or fix. Homeowners may have out-of-pocket costs only if the cost of the repair or replacement goes over the item's coverage limit. A home warranty gives homeowners reassurance by helping avoid expensive emergency repairs. The coverage is particularly helpful for buyers of older houses or houses with fixtures near the end of their life span. However, homeowners with newer homes and working appliances may not need a home warranty.

What Does a Home Warranty Cover?

Home warranties cover many home systems and appliances. Common covered appliances are refrigerators, dryers, garbage disposals, dishwashers, washers, microwaves, and others. Covered systems include plumbing, heating, electrical, and air conditioning. Various home warranty plans offer add-on coverage for roof leaks, septic systems, central vacuums, and even locksmiths. Franklin Park should understand that most home warranty plans have a waiting period of 30 days before repairs are covered. The majority of policies also 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. Be diligent about completing preventative maintenance to ensure your next repair or replacement is covered.

Key Home Warranty Terms to Know

There are a number of home warranty terms to understand before signing an agreement, including:

• Deductible: The amount you pay toward a covered repair before the warranty covers the rest. Some plans have per-claim or yearly deductibles.
• 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 air conditioning units, roof leaks, and appliances.
• Trade call fee: An additional fee that's sometimes required to appliance-related claims.
• Endorsements: Additional coverage for systems like pools, well pumps, and septic, which usually comes with a fee for each add-on.
• Claim approval: The process a provider uses to validate that a requested repair or replacement is covered under your plan.
• 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.

With these terms and key factors in mind, you'll be able to understand pricing and choose a home warranty customized to protecting your most essential home systems. During the quoting process, take care to review coverage details with potential companies to help avoid unexpected fees.

Key Factors in Choosing a Home Warranty Company

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

Coverage Options

Home warranty coverage can have major differences in what's included. Most plans include protection for plumbing, AC, heating, electrical, and appliances. More robust coverage options also offer coverage on other items such as spas, well pumps, roof leaks, and pools. Look for a provider that offers robust coverage options, including upgraded plans. Flexibility is important when trying to fit a home warranty to your home's specific systems and needs.

Service Fees

You'll pay a service fee, typically $60–100, for each claim filed with your home warranty provider. These per-claim charges can quickly add up, so you may look for companies advertising more affordable fees to optimize savings on each repair claim. Certain companies may waive deductibles if homeowners don't submit any claims within a set period of time.

Reputation

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

Contractor Network

Home warranty companies have networks of technicians that they use to tackle covered repairs. Wider networks improve the chance of getting skilled contractors to your home quickly. Contact possible providers to learn how many technicians they have in Franklin Park. This helps you understand how long repairs may take in an urgent situation.

Added Benefits

Home warranty companies sometimes offer extras such as maintenance discounts, energy efficiency upgrades, and coverage for smart home devices. These extras can add value beyond basic repair coverage. Added perks can maximize the usefulness of the home warranty.

Is a Home Warranty Worth it in Franklin Park?

---

Benefits of a Home Warranty

Home warranty policies are an inexpensive way to protect your home systems and appliances from normal wear and tear. With temperatures in Franklin Park reaching an average high of 60℃F, you may find that some appliances, such as your air conditioner, get a lot of use. A home warranty can considerably lower out-of-pocket costs should your HVAC system break down.

A home warranty also saves you time and energy. Instead of spending hours researching and choosing a contractor 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. Another good thing about having a home warranty is when you’re selling your home, you can most likely transfer your home warranty policy to the new owners. It can make your house more attractive to potential homebuyers and help your home sell faster.

Downsides of a Home Warranty

Home warranties also have some downsides. Though it can be convenient that the home warranty sends out a service technician who does the repair for you, some homeowners may not like this, and they would prefer to select a contractor themselves. If that’s important to you, some home warranty companies let you select a contractor.

Another pain point of home warranties is that they don’t cover items that haven’t been properly maintained. This can lead to your claims being rejected, so it’s important to carefully follow the manufacturer’s guidelines for maintenance of your home systems and appliances.