Best Home Warranty Companies 2020

What You Need to Know About Home Warranties 

These are the top home warranty companies on the market today. Read on for in-depth details on features, plans, and pricing.  

Choice Home Warranty

• First month free
• Round the clock claims hotline
• No home inspection required
• Low service call fee

Choice Home Warranty provides protection for all of your home’s systems and appliances in case of damage or break down. Customers can choose from 2 home warranty plans, the Basic or the Total plan, and both are reasonably priced. Plus, the service call fee is only $85, some of the lowest in the industry.

Choice Home Warranty plans include all of the most common household appliances and systems including HVAC, electrical, plumbing, water heaters, refrigerators, microwaves, dishwashers, ovens, and clothing washers and dryers. There are also some usual add-ons like pools, spas, well pumps, and stand-alone freezers, not to mention the less frequently covered roof leaks.

You don’t have to worry about your home or appliances being in tip-top shape in order to receive coverage. In fact, Choice Home Warranty doesn’t require a home inspection at all. You can get coverage 30 days after the contract is signed. But you can have this grace period waived if you were just recently covered by another reputable home warranty service. What we really like about Choice Home Warranty is that you can call in a claim at any hour of the day or even night. Service requests are taken 24/7.

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Select Home Warranty

• Low monthly pricing, discounts offered
• Vast network of contractors
• Available in all 50 states
• Repair or replace

Select Home Warranty offers 3 home warranty packages, the Bronze, Gold, and Platinum Care plans, and there are several add-ons you can include as well. The Bronze package costs $36/month and is basically the appliances plan—covering your basic white goods and kitchen appliances. The Gold is the systems plan, and the Platinum, at $42/month, is the combo package that covers everything from appliances and airconditioning systems to your garage door. So, you pick the one that works best for you. 

Select Home Warranty makes it easy to get coverage, not requiring any home inspection before purchasing a plan. But what was really impressive about this company was the huge network of contractors it has on staff. The more contractors available to you in your area, the faster you can expect a technician to arrive and have your item fixed. All technicians employed by Select Home Warranty are qualified and experienced professionals, so you can trust that you are getting quality work done.

Another strong aspect about Select Home Warranty’s coverage is the repair or replace policy. The technician will assess your damaged appliance/system. If it is fixable, that’s what they’ll do. If the technician deems it unfixable or not worth the time, money, or effort needed to repair the item, you’ll be given a cash settlement for a new item. What’s more, Select Home Warranty will let you ask for a second opinion at no extra charge. 

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First American Home Warranty

• Pre-screened technicians
• Guarantee on all work done
• Long-standing reputation
• 24/7/365 claims and coverage

First American Home Warranty has the impressive claim to service close to half a million customers across the US, and with simple, straightforward contracts, low pricing, and professional technicians, it’s no surprise.

Whether you opt for the Basic or the Premium coverage plan, First American Home Warranty plans are some of the lowest priced home warranty coverages in the industry. You can get a full year of coverage for just $288. Deductibles range from $50 to $65, with the lower price being among the most affordable on the market. What’s even more exciting about First American Home Warranty, is that it allows you to pick and choose some of the coverage options, with up to 35 add-ons to choose from. This means you will pay for the items you want and not pay for the ones you don’t.

All First American Home Warranty technicians are pre-screened, which means they are carefully vetted to ensure that they're qualified to do their job and will do so in a professional manner. Another useful feature of First American Home Warranty is that technicians are available 24/7/365. You can get a technician to come down even on Thanksgiving, July Fourth, or Easter. Isn’t it time you lived more securely? 

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What a Home Warranty Policy Can Offer Homeowners and Landlords

You just purchased your dream house or moved into the perfect rental along with the elegant décor that turns your house into your home. It has been a few months and everything is unpacked and placed in its designated spot. However, within a few months of moving in, you get hit with a costly and unexpected expense when your heater blows out during the winter.

With a new mortgage payment and a limited amount in savings, you're looking at numerous financial options on how to pay for this unexpected expense. Had you purchase a home warranty plan, this expense - as well as any major systems and appliances that may need repair or replacement in your home - would have been covered.

What Does a Home Warranty Include?

Home warranties typically include coverage the following major appliances and systems:

• Central air conditioning systems
• Central heating systems
• Humidifiers
• Interior electrical systems
• Refrigerators
• Ranges, ovens, and cooktops
• Dishwashers
• Built-in microwaves
• Water heaters
• Plumbing systems 
• Garbage disposals
• Washers and dryers
• Garage door openers
• Roof leaks

When Do You Need a Home Warranty?

Home warranties are offered to all homeowners, both new and existing. Typically, home warranty plans are offered to the home-buyer when they are purchasing a new home. However, if the buyer decides not to purchase home warranty insurance simultaneously with their home purchase, then they can secure a home protection plan at a later date. There is no time restriction as to when a homeowner can decide to purchase a warranty plan.

Cost Involved with a Home Warranty Plan

Typical home warranty plans cost anywhere between $350-500 per year, or $45-60 per month, which can be paid in a lump sum amount during the purchase of a new home. This lump sum payment would be collected at the time closing costs are due for the newly purchased home. However, the seller, real estate agent or a family member or friend can purchase home warranties on behalf of a home-buyer. If a home appliance insurance claim is filed then the homeowner may be responsible for paying a service fee or deductible that typically ranges from $50 to $100. Please note, home warranty companies have different contract agreements, therefore fee amounts may vary.

Home Warranty Process

Filing a claim is a simple process. Prior to filing, review your insurance contract to verify the item that you need to repair or replace is covered under your plan. Next, complete the following steps:

1. Contact your home warranty company to file a claim
2. The warranty company will review their home warranty plans to verify that you have a plan that covers the item in question
3. The warranty company will schedule an appointment for you with a local contractor
4. The contractor will diagnose the situation and makes a recommendation to repair or replace the item in question
5. Repairs and replacements will be carried out
6. You pay a cost in the form of a service fee to the warranty company
7. Done

How to Choose the Best Home Warranty Plan for You

As there are many providers to choose from that have a variety of plan options, the best home warranty companies depend on how they can meet the needs of your home. The best way to select the right home protection plan for you is by doing your research on what each company has to offer.

Want to learn more before choosing? These in-depth reviews are packed full of information on the top home warranty providers. Once you've selected the plan that best fits your needs, you'll join the many homeowners that have peace of mind because they are protected by one of the top home warranty companies.