A house warranty is a kind of service contract that helps cover the expenses of repairing or replacing home equipment and systems in the event that they fail as a result of regular wear and tear. During the time that they are covered by the insurance, policyholders get a reduction on the cost of service calls for a variety of home appliances and systems in return for a monthly or yearly payment. Home warranties may provide reassurance to homeowners, which is beneficial to both buyers and sellers throughout the process of real estate transactions.
Look for a home warranty provider that has affordable premiums and service costs, high payment limitations, a simple claims procedure, and a broad selection of plans that include the appliances and systems you want to cover when you are searching for a house warranty.
Why Should You Believe in Us
Investopedia gathered critical data points from a variety of home warranty companies in order to determine which aspects are most relevant to clients. We utilized this information to evaluate each provider in terms of pricing, availability, coverage choices, and other characteristics so that we could provide our users with impartial, thorough assessments that would help them make the best choice possible for their individual circumstances.
American Residential Warranty
Pros & Cons
Pros
Low costs for some plans
Cons
Washer & dryer coverage costs extra on every plan
Low annual limits on some appliances and systems
Home Warranty Inc
Why Did We Go With It?
Our Best Overall Runner-Up is Home Warranty Inc. due to the company’s user-friendly website, which includes transparent pricing information, its extensive range of coverage options and optional extras, as well as its faster-than-average claim processing times. The organization has an A+ rating with the Better Business Bureau and is licensed to sell insurance products in 35 different states. When looking for home warranty coverage, Home Warranty Inc. is an excellent option to take into consideration since it came in second to American Residential in terms of the total number of points earned.
Cinch Home Warranty
Why Did We Go With It?
Because clients in California and Florida may purchase Cinch Home Services’ Complete Home Warranty plan for less than $500 per year, the firm was awarded first place in our Cheapest Plan Cost category. This plan provides the most complete coverage that the business has to offer. Cinch is the winner of the low-cost category because the average cost of all plan levels in those states is lower than in any other state. The firm has a B rating with the Better Business Bureau and has pretty extensive coverage throughout the United States. With the exception of Alaska, Hawaii, Iowa, and Texas, the company is available in every state in the country.
Pros & Cons
Pros
Protection for unknown pre-existing conditions
180-day service guarantee
Cons
Above-average service fees
Above-average costs in some states
TotalProtect Home Warranty
Why Did We Go With It?
Our top recommendation for the best average plan cost is TotalProtect, which has an annual premium that is just $423 on average. The organization provides coverage in every one of the 50 states, in addition to Washington, the District of Columbia. TotalProtect had a lower customer satisfaction review rating with the Better Business Bureau than the majority of the organizations that we looked into, despite the fact that the company had a good overall score. However, if the cost of the plan, particularly for a more fundamental package, is the primary factor in your decision, then TotalProtect could be the way to go.
Pros & Cons
Pros
Nationwide coverage
Average annual plan cost of $423
Six-month service guarantee
Rapid claim response times
Cons
Low customer satisfaction
No Better Business Bureau profile
Relatively high service fees
Final Verdict
When looking for a home warranty plan, it is important to think about the kind of coverage you want, how much the plan will cost in total, and how the provider will handle warranty claims. It is in your best interest to do research on a number of different businesses and compare their coverage and prices.
American Residential Warranty is the company that best meets our needs for the year 2022. Its plans may be customized, it covers the whole country, the service costs are low, and it has an A+ rating with the Better Business Bureau. We also appreciate that you may pick your technician, which is a useful option that you can take advantage of if you want to continue with the same service professionals that you are currently familiar with.