7 Best Home Warranty Companies
Getting a home warranty plan can save you a lot of unexpected expenses. You might be thinking – I already have homeowners insurance, do I really need a home warranty plan too? Well, yes – you do.
As I explain further down in the article, there is a difference between the two – and it’s not about having one or the other. If you want to protect yourself from unexpected (possibly major) expenses, you will probably need to invest in both.
Choosing a home warranty provider and a home warranty plan might not be as straightforward, as there are so many things to think about – from home warranty costs to what coverage you think your home needs.
In this article, I’ll explain to you how a home warranty works and what home warranty plans cover, as well as take you through my take on the best home warranty companies of 2020.
7 Best Home Warranty Companies
Home warranty plans tend to differ from one company to the next. Some focus on costs, others on the number of appliances and systems covered.
Because of this, there is no one best plan for everyone. To help you find the best plan for you, we have reviewed 18 best home warranty companies to come up with our top 7 picks.
Here are the 7 best home warranty companies of 2020:
- American Home Shield
- Choice Home Warranty
- Select Home Warranty
- First American Home Warranty
- America’s 1st Choice Home Club
- Amazon Home Warranty
- Cinch Home Services
American Home Shield
American Home Shield was one of the first companies to offer home warranties. In fact, they have been around for more than 45 years. They have a B rating from the BBB (Better Business Bureau) and are fully accredited.
American Home Shield has several different plans to choose from, including one that is totally customizable. This is called the Build Your Own Plan ™ and allows you to select which systems and appliances you want to be covered.
There are 21 different systems and appliances to choose from, and you can pick and choose as you please. Do keep in mind there are exclusions and caps in place as well as extra coverage options.
They have more than 15,000 contractors in their network, meaning help can be available pretty quickly when things go wrong.
Choice Home Warranty
Choice Home Warranty offers straightforward home warranty insurance plans. In fact, there are only two plans to choose from – Basic and Total. They are available in most states, with the only exceptions being California and Oklahoma. Their plans are quite affordable, and the company has positive customer satisfaction ratings.
The Basic Plan on offer covers quite a few things; however, it misses essentials such as refrigerators and laundry washing and drying appliances. These are covered in the Total Plan, which might make it more suitable for most households.
If the Total Plan doesn’t quite cover everything you need it to, there are also many additional coverage options that can extend the number of systems and appliances covered by the home warranty plan.
Choice Home Warranty offers 24/7 support, and they promise fast service should something covered by the plan breaks down.
Select Home Warranty
Select Home Warranty is a relatively new entrant to the home warranty market. They are accredited by the Consumer Affairs and have won many awards and accolades since opening their doors. They are also an official partner of the New York Jets.
Select Home Warranty offers three different plans named Bronze Care, Gold Care, and Platinum Care. Bronze Care covers several different appliances, while Gold Care covers different systems. Platinum care covers everything under Bronze and Gold Care, making it the most comprehensive plan out of the three available.
Claims can be opened online or by telephone 24/7. Once verified, a local professional will be tasked with carrying out the required repairs. A service fee is applicable to get the job done.
First American Home Warranty
First American Home Warranty offers several plans that may differ by area. Generally, however, they offer two plans – a Basic Plan and a Premier Plan.
Prices start from as little as $28 per month, but you will need to get in touch with them to see what it would cost you. They are accredited by both Consumer Affairs and the Better Business Bureau. They are also a member of the NHSCA.
The basic plan on offer covers some essential appliances. The premier plan, on the other hand, offers everything covered by the basic plan plus some major home systems. Either way, they cover appliances and systems regardless of age. Claims can be opened online or by calling their freephone number.
If something can’t be fixed, it will be replaced with a new one. In some cases, cash may be offered instead.
America’s 1st Choice Home Club
To help you get the right amount of coverage, AFC Home Club offers four different plans to choose from. They also offer the option to cancel at any time and have a B rating by the Better Business Bureau. AFC is also accredited by Consumer Affairs and Consumer’s Advocate.
You can choose from Systems Plan, Silver Plan, Gold Plan, and Platinum Plan. Each plan builds upon the previous one adding more systems and appliances coverage. You can also get additional coverage for things not covered in any of the standard plans. When it comes to repairs, you can choose any technician you want as long as they are licensed and insured.
AFC Home Club also offers many other perks, including Club Benefits. This includes free credit monitoring and discounts on several things – from household supplies to dining out, among other things.
Amazon Home Warranty
Amazon Home Warranty (surprisingly, not affiliated with Amazon.com), offers nationwide home warranty coverage. They have an A+ rating from the BBB and enjoy a good reputation for their services. They offer home warranties to homeowners, realtors, contractors, as well as buyers and sellers.
They have three plans to choose from. The Essential Appliances Plan covers eight different appliances, while the Major Systems Plan covers eight different systems.
You can also get the Combo Plan, which combines the two plans into one. If the standard plans do not cover everything you need them to, you can also get optional additional coverage with many appliances and systems to choose from.
Amazon Home Warranty also offers 24/7 services with more than 40,000 service providers in their network ready to assist you.
Cinch Home Services
Cinch Home Services has been around for over 40 years. In this time, they have collected several awards, including Stevie Winner awards for sales and customer service. They are a fully accredited business and have an A- BBB rating.
Cinch offers three different protection plans, including one for appliances, one for built-in systems, and one that covers both. As you would expect, there are certain exclusions and limits. These can be found through the sample terms that Cinch Home Services publishes on its website.
Each plan comes with a number of benefits, including a workmanship guarantee of 180 days, coverage for pre-existing faults, and rust and corrosion coverage. You also get discounts on brand-name appliances when the ones you have reached their end of life or you’re looking for an upgrade.
What Is A Home Warranty Plan?
Home warranty plans work just like a warranty on several home systems and appliances, as it covers repairs and replacements of your major appliances if they break or malfunction. Some of the covered items include fridges, dishwashers, sprinklers, ceiling fans, cooktops, smoke detectors, trash compactor, stoppages, and central vacuums.
How is it different from home insurance? Both are definitely worth having – but they offer different layers of protection. Home insurance essentially covers your actual home and offers financial Protection if it gets damaged (because of, say, vandalism, a flood, or a fire). A home warranty, on the other hand, is a service contract that covers your appliances and systems, and financially protects you if they need repair or replacement.
Each home warranty plan may cover different appliances and systems, as well as different faults. By having a home warranty plan, you can protect yourself from unexpected expenses when something breaks down. The good thing about home warranty plans is that they can be purchased at any time – so whether you’re home buyers, home sellers, or have just moved into a new home, you can still benefit from it.
Why Should You Get A Home Warranty Plan?
The answer is simple – you never know when things in your home may break down. While new appliances and systems come with warranties such as a manufacturer’s warranty, these typically expire within a year or two.
Once it does, repairs have to come out of pocket, which can be very expensive. Any of your home appliances can malfunction at any moment, taking you by surprise, and emptying your bank account.
By getting a home warranty plan, you can get such expenses covered by the plan with many home warranty providers, also offering a wide network of contractors who will do the repairs for you.
What Are The Plan Options?
Typically, you will find two different kinds of coverage – appliances and systems. The items covered will vary from one company to the next.
In most cases, the items covered will include:
- Water heater
- Air conditioning
- Well pump
- Garbage disposal
- Garage door opener
- Plumbing system
- Septic system
- HVAC system
Most items will be included by default or as an optional add-on, which costs extra.
Invest In A Home Warranty Plan To Protect Your Finances
Many of us live busy lives, juggling a hundred and one things at a time. The appliances and systems within our homes help us live the lifestyles we are so accustomed to.
When something like the heating system, clothes washer, or other major systems break down, this can represent big problems that are costly to fix. This is what makes home warranties something well worth our consideration. Not only do they save us money, but they can also help us get back up and running in no time.
When looking for a plan, make sure that it covers what is important to you. Here, add-ons can be a lifesaver. Make sure you get quotes from multiple companies and compare like with like to get the best deal possible.