Top 10 Home Warranty Companies
An Overview on Home Warranty Companies
Home warranty companies are essential to homeowners who want to protect themselves from the financial burden of unexpected repairs or replacements of household appliances. The main objective of these companies is to provide protection to your home systems and appliances, producing a peace of mind and a safeguard against expenses that could cause harm to your wallet.
According to Nation's home warranty Market (2021), The Home Warranty industry in the United States is worth $2 billion, and several home warranty companies offer different protection plans with different service fees and various items covered. So, picking out the appropriate home warranty company for you can seem tricky.
This article provides an overview of the top 10 home warranty companies based on research of the services provided, customer feedback, and company profiles. As you read along, you will find descriptive facts about the strengths and weaknesses, FAQs, and how to make the right choice for you.
Strengths and Weaknesses of the Top 10 Home Warranty Companies
1. American Home Shield (AHS) - AHS is the leading and most established company in the home warranty industry. Their plans are customizable and broad, covering home systems, appliances, and even electronics. However, their annual fees are a bit expensive compared to their competitors, and customers have complained that their services are often delayed.
2. Choice Home Warranty (CHW) - CHW has coverage for a diverse range of appliances and seems to value customer feedback, which they consider to provide improved service. However, their customers have frequently complained about the inconclusive nature of their contract terms and difficulty concerning contract renewal.
3. Select Home Warranty (SHW) - SHW offers one of the cheapest home warranty plans; however, it also has coverage limitations and strict conditions for repairs or replacements, which is a significant disadvantage.
4. Total Home Protection (THP) - THP is an intermediate player in home warranty services that provide good value for their pricing and offer comprehensive coverage. Most feedback on them is positive, but their shortcomings include scanty information for DIY repairs and a questionable repair process.
5. First American Home Warranty (FAHW) - FAHW has a remarkable reputation in the industry and has vast experience. However, they have the least visible customization options compared to their competitors, and their service fees seem relatively high.
6. Home Security of America (HSA) - HSA prides itself on having a simple and straightforward service approach. Their so-called green plan provides excellent coverage to energy-efficient home appliances and systems that save you money on energy bills. However, their repair services tend to be restricted and have an annual cap, which could inconvenience their customers.
7. Cinch Home Services - Cinch offers among the most diverse coverage in the home warranty industry, including customizable plans for home builders and homeowners. Despite their decent coverage, they have an underwhelming customer service response and claim approval process.
8. Liberty Home Guard - Liberty Home Guard offers customized coverage and affordable pricing that could benefit a vast range of homeowners. Their customer services need improvement, and the repair process takes a long time.
9. LawnStarter - LawnStarter provides comprehensive coverage for outdoor home equipment and appliances such as lawnmowers, pools, and other garden tools. Their process is simple, and you could pay annually or monthly, but their repair process is sometimes slow.
10. Amazon Home Warranty - Amazon Home Warranty seems like a promising option with reliable coverage and fast claim approvals. However, many customers are skeptical of their processes, given that they have little to no information about company profiles, such as their reviews, complaints, and website.
The Top 10 Home Warranty Companies - Overview Table
| Company | Coverage | Customer Rating | Annual Fees |
|---|---|---|---|
| American Home Shield (AHS) | Home Systems, Appliances, Electronics | 4.6/5 | $300-$600+ |
| Choice Home Warranty (CHW) | Home Systems, Appliances | 4.3/5 | $370-$450 |
| Select Home Warranty (SHW) | Home Systems, Appliances | 4.1/5 | $360-$500 |
| Total Home Protection (THP) | Home Systems, Appliances | 4.2/5 | $400-$530+ |
| First American Home Warranty (FAHW) | Home Systems, Appliances | 3.9/5 | $300-$500+ |
| Home Security of America (HSA) | Home Systems, Appliances | 4.5/5 | $330-$500 |
| Cinch Home Services | Home Systems, Appliances | 4/5 | $400-$500 |
| Liberty Home Guard | Home Systems, Appliances | 4.2/5 | $370-$500+ |
| LawnStarter | Outdoor Home Equipment, Appliances | 3/5 | $500-$600+ |
| Amazon Home Warranty | Home Systems, Appliances | 3.8/5 | $350-$450+ |
FAQs about Home Warranty Companies
1. What is a Home Warranty?
A Home Warranty is a service contract that helps homeowners cover the repair or replacement costs of household items such as appliances and home systems.
2. What Does a Home Warranty Cover?
Home Warranties cover household appliances and systems such as air conditioning, heating, and plumbing systems, washing machines, refrigerators, and more. The extent of coverage depends on the provider and the plan selected.
3. What is not Covered in a Home Warranty?
Home Warranties do not cover items outside of the home, outdoor structures, and cosmetic maintenance, or damages caused by human negligence or natural disasters.
4. What Factors Should be Considered Before Choosing a Home Warranty Company?
Consider factors such as pricing, item coverage, service limitations, customer feedback, and repair service process to make an informed decision about which Home Warranty company to choose.
5. Can a Home Warranty Company Deny a Claim?
Yes, Home Warranty companies reserve the right to reject claims due to various reasons such as pre-existing conditions, expired warranty terms, and items not covered under the plan.
6. How Do I Submit a Claim?
To submit a Home Warranty claim, contact the company either through phone, website, or mobile application and provide accurate information about the damaged item and a detailed explanation of the problem.
7. How Long Does it Take for a Home Warranty Claim to be Processed?
The time it takes for a Home Warranty claim to be processed depends on the company and the nature of the problem. On average, the process could take between 1-2 days to a week.
8. Can I Cancel My Home Warranty Contract Before it Expires?
Yes, most Home Warranty companies allow for cancellation under specific terms and conditions that must be reviewed before signing the contract.
9. How Does a Home Warranty Compare to Homeowner’s Insurance?
Homeowner's insurance covers damages and loss resulting from natural disasters, theft, and liability factors, while Home Warranties cover household items and systems.
10. Do Home Warranty Companies Offer Discounts?
Yes, various Home Warranty companies offer discounts to loyal customers, multi-year contracts, and special promotions for first-time customers.
11. Are Home Warranties Worth the Cost?
This depends on personal factors and how often your household items are damaged or require repairs. An excellent Home Warranty could save you from incurring a huge unexpected expense, saving you financial stress.
12. How Do I Select the Right Plan for My Needs?
To select the right Home Warranty plan, consider the item coverage, service limitations, annual service fees, customer feedback, and repair service process. This will help you make an informed decision about which plan or provider to choose.
13. What Should I Do if I Encounter a Problem with My Home Warranty Company?
If you encounter issues with your Home Warranty company, contact customer support, file a formal complaint, or review their policies and terms to find out if you qualify for a refund.
Take Action and Protect Your Home
It is advisable to purchase Home Warranties as a safety net, giving you peace of mind knowing that your home is protected from unexpected expenses that could harm your wallet. Choosing the right provider is a crucial factor in owning a Home Warranty.
As always, it is essential to research and choose the Home Warranty that best fits your home and your needs. Always read the terms and conditions, reviews, and customer feedback before making a decision.
Don't waste any more time or money on unexpected home repairs. Research the various Home Warranty companies to find the best one to fit your needs. At the end of the day, the right Home Warranty provider gives you peace of mind for your home, where you and your family make your most cherished memories.
Disclaimer
The information provided in this article is based on publicly available information. The reader should do their independent research before making any purchase decisions. The writer and the publishing platform do not provide any endorsements for any of the companies or services listed in this article.