The 4 Best Home Warranty Companies of 2020 from www.investopedia.com
Introduction
When it comes to home ownership, unexpected repairs and replacements can be frustrating and expensive. This is where home warranty companies come in handy. They offer a service that covers repairs and replacements of major home systems and appliances for a fixed annual fee. In this guide, we will take a closer look at some of the best home warranty companies in 2023.
What is a Home Warranty?
A home warranty is a service contract that covers the repair or replacement of major home appliances and systems when they break down due to normal wear and tear. It is not the same as homeowners insurance, which covers damages caused by unexpected events like fires, natural disasters, and theft.
How Does a Home Warranty Work?
When you purchase a home warranty, you pay an annual fee to the warranty company. If a covered appliance or system breaks down, you notify the warranty company, and they send a licensed contractor to diagnose and repair the problem. If the repair is not possible, the warranty company will replace the appliance or system.
Top Home Warranty Companies in 2023
There are many home warranty companies to choose from, but not all are created equal. Here are some of the top home warranty companies in 2023:
1. American Home Shield
American Home Shield is one of the oldest and most established home warranty companies in the industry. They offer customizable plans that cover appliances, systems, and optional add-ons like pool and spa coverage. They also have a network of over 15,000 licensed contractors.
2. Choice Home Warranty
Choice Home Warranty offers comprehensive coverage for appliances and systems, as well as optional add-ons like well pump coverage. They have a network of over 15,000 licensed and screened contractors and offer a 30-day money-back guarantee.
3. Total Home Protection
Total Home Protection offers three levels of coverage for appliances and systems, as well as optional add-ons like roof leak coverage. They have a network of over 10,000 licensed and insured contractors and offer a 24/7 claims hotline.
Factors to Consider When Choosing a Home Warranty Company
When choosing a home warranty company, there are several factors to consider:
Coverage
Make sure the company offers coverage for the appliances and systems you need, and consider any optional add-ons that may be necessary.
Cost
Compare annual fees and deductibles between companies to find the best value for your budget.
Contractors
Check the company's contractor network to ensure they have licensed and insured professionals in your area.
Reviews
Read customer reviews and ratings to get an idea of the company's reputation and customer service.
Conclusion
Home warranty companies can provide peace of mind and financial protection when unexpected home repairs arise. By comparing coverage, cost, contractors, and customer reviews, you can find the best home warranty company for your needs. Consider one of the top companies mentioned in this guide and enjoy the benefits of worry-free homeownership.
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