Comparing Home Warranty Companies: Which One is Best for You?
Introduction: Everything You Need to Know About Home Warranty Companies
Are you a homeowner looking for peace of mind when it comes to repairs and replacements of your home appliances and systems? A home warranty might just be the solution that you've been searching for. Home warranty companies offer different coverage plans that can help protect you from unexpected breakdowns and repairs.
However, finding the right home warranty company can be a daunting task, with so many choices available in the market. Each company offers different levels of coverage and services, and it can be challenging to make an informed decision when it comes to choosing the one that best fits your needs and budget.
In this article, we'll help you compare the top home warranty companies in the market. We'll explore their strengths and weaknesses and provide you with all the information you need to choose the right one for you. So, let's get started!
Comparing the Best Home Warranty Companies: Strengths and Weaknesses
American Home Shield
American Home Shield is one of the biggest and most well-known home warranty companies in the US. They offer different pricing plans that range from $39.99 to $59.99 per month, depending on the level of coverage you choose. Their coverage is comprehensive and includes most major home systems and appliances.
However, American Home Shield has been known to have slow and unsatisfactory customer service, which can be frustrating when you're in need of a repair. They also have a reputation of denying claims for pre-existing conditions, which can be problematic if you haven't thoroughly read their terms and conditions.
Choice Home Warranty
Choice Home Warranty offers two pricing plans that start at $36 per month. They provide coverage for most home systems and appliances and have a fast turnaround time for repairs.
However, they have a lot of exclusions in their contract, which may leave you without coverage for certain items. They also have strict terms regarding maintenance and may deny claims if you haven't followed their guidelines thoroughly.
Cinch Home Services
Cinch Home Services offers comprehensive and affordable coverage plans that start at $29.99 per month. They provide coverage for most major appliances and systems, and have a user-friendly online claims system.
However, Cinch Home Services has a cap on their coverage limits, which can be a problem if you're in need of a costly repair or replacement. They also have a limited service area and are not available in all states.
Complete Protection
Complete Protection offers flexible and affordable coverage plans that start at $49.99 per month. They provide coverage for most home appliances and systems, and have a transparent and straightforward contract.
However, Complete Protection has a limited service area and is not available in all states. They also have a low coverage limit per claim, which may leave you with out-of-pocket expenses for costly repairs or replacements.
First American Home Warranty
First American Home Warranty offers affordable pricing plans that start at $28 per month. They provide coverage for most home systems and appliances and have a wide service area.
However, First American Home Warranty has a cap on their coverage limits and may not cover certain items that are under manufacturer's warranty. They also have a long waiting period for new customers before they can file a claim.
HomeServe USA
HomeServe USA offers flexible coverage plans that start at $9.99 per month. They provide coverage for most major home systems and appliances and have a fast and responsive customer service.
However, HomeServe USA has a lot of exclusions in their contract, which may leave you without coverage for certain items. They also have a low coverage limit per claim and a long waiting period for new customers before they can file a claim.
Home Warranty Company Comparison Table
| Home Warranty Company | Monthly Cost | Coverage: | Service Area: | Strengths: | Weaknesses: |
|---|---|---|---|---|---|
| American Home Shield | $39.99 - $59.99 | Most major appliances and systems | Nationwide | Comprehensive coverage | Slow customer service, pre-existing condition exclusion |
| Choice Home Warranty | $36 - $44 | Most home systems and appliances | Nationwide | Fast turnaround time | Exclusions in contract, strict maintenance requirements |
| Cinch Home Services | $29.99 - $49.99 | Most major appliances and systems | Available in select states | Affordable pricing, user-friendly claims system | Low coverage limit, limited service area |
| Complete Protection | $49.99 | Most home appliances and systems | Available in select states | Flexible coverage plans, transparent contract | Low coverage limit per claim, limited service area |
| First American Home Warranty | $28 - $42 | Most home systems and appliances | Nationwide | Affordable pricing, wide service area | Coverage limits, long waiting period for new customers |
| HomeServe USA | $9.99 - $59.99 | Most major home systems and appliances | Available in select states | Flexible coverage plans, fast customer service | Exclusions in contract, coverage limits, long waiting period for new customers |
Frequently Asked Questions (FAQs)
1. What is a home warranty?
A home warranty is a service contract that covers the repair or replacement of major home appliances and systems that fail due to normal wear and tear. Homeowners pay a monthly or annual fee to the home warranty company in exchange for coverage.
2. What does a home warranty cover?
A home warranty usually covers major appliances and systems in a home, such as air conditioning, heating, plumbing, electrical, and kitchen appliances. Exact coverage varies depending on the home warranty company and the plan.
3. What is not covered by a home warranty?
A home warranty usually does not cover pre-existing conditions, cosmetic defects, or items that are in need of maintenance or cleaning. It may also have exclusions on specific items, such as outdoor equipment or pool and spa equipment.
4. How long does a home warranty last?
A home warranty usually lasts for one year and can be renewed annually. Some companies offer multi-year plans.
5. Do I still need homeowners insurance if I have a home warranty?
Yes, a home warranty is not a substitute for homeowners insurance. Homeowners insurance covers damages or loss due to unforeseen events, such as theft or natural disasters, while a home warranty covers the repair or replacement of appliances and systems from normal wear and tear.
6. How do I file a claim with a home warranty company?
To file a claim with a home warranty company, you usually need to contact their customer service department or use their online claims system. You may need to provide them with information and documentation of the issue and wait for their approval before they schedule a service appointment.
7. Can I choose my own contractor with a home warranty?
With most home warranty companies, you cannot choose your own contractor. You must use their preferred network of licensed and insured contractors to perform repairs or replacements.
8. Is a home warranty worth it?
Whether a home warranty is worth it depends on your specific needs and circumstances. If you have an older home with appliances and systems that are nearing the end of their lifespan, a home warranty may provide financial peace of mind. However, if your appliances and systems are new or you have significant savings for unexpected repairs, a home warranty may not be necessary.
9. Can I cancel my home warranty?
Most home warranty companies offer a 30-day cancellation period, where you can cancel your contract and receive a full refund of your premium. After the cancellation period, you may be subject to a prorated refund or cancellation fee.
10. Are there any hidden costs with a home warranty?
Most home warranty companies have a service fee that you must pay for each repair or replacement. This fee is usually between $50 to $125 per service call. Some companies may also charge additional fees for emergency service or for repairs outside of normal business hours.
11. Can I transfer my home warranty to a new owner if I sell my home?
Most home warranty companies allow you to transfer your contract to a new owner if you sell your home. However, you may need to pay a transfer fee and provide documentation of the sale.
12. Can I renew my home warranty?
Most home warranty companies offer renewals that allow you to extend your coverage for an additional year or more. You may need to pay a renewal fee and your premium may increase.
13. How do I choose the right home warranty company for me?
To choose the right home warranty company for you, you should consider the level of coverage and exclusions, the cost and service fee, the reputation and customer service, and the flexibility and accessibility of their contract and claims process.
Conclusion: The Best Home Warranty Company for You
Choosing a home warranty company can be overwhelming, but with the right information and research, you can make an informed decision. By comparing the strengths and weaknesses of the top home warranty companies in the market, you can find the one that best fits your needs and budget.
Whether you're protecting your appliances and systems from costly repairs or replacements, or simply seeking financial peace of mind, a home warranty can provide valuable coverage and security for your home. So, take the time to explore your options and find the best home warranty company for you.
Disclaimer:
The information in this article is accurate as of the date of publication and may be subject to change. The opinions expressed are solely those of the author and do not necessarily reflect the views of any home warranty company or other organization. This article is for informational purposes only and is not intended to provide legal, financial, or other professional advice. Always do your due diligence and consult with a licensed professional before making any decisions.