Best Home Warranty Companies in Virginia

Average costs

When comparing home warranty companies, you will find that there is a wide range in the annual fees they can charge. Some home warranty companies charge one comprehensive, annual fee, while others charge a lower annual fee but add in extra fees throughout the year. So don’t assume that one company is a better choice just because it has a lower annual fee. Also, take note that some companies will have different pricing based on the state you are in. When evaluating cost, make sure you are looking at your state-specific cost, not just the company’s average cost across all states.

Repeat service fees

Be aware that some warranty companies charge a service fee every time a technician visits the customer’s home, regardless of whether or not the item that needs repairing has been looked at previously. Most often the payments must be paid at time of service, and failing to provide immediate payment could result in the suspension of the warranty coverage. Keep this in mind if you cannot guarantee the ability to pay repeat service fees, or simply if that is something you do not want to deal with altogether.

Coverage

It is important to understand what specific warranty companies cover and what condition your appliances have to be in to be eligible for coverage. There are usually two types of coverage options, generic overall coverage plans and customizable coverage plans:

• Overall coverage—Before choosing a home warranty company, review their state-specific guidelines to make sure they offer their full and best services in your state and for the condition of your appliances. Also, understand what kind of appliances a home warranty company covers in its overall coverage. It may cover one appliance, but if you have a second of that same appliance, it might not be covered. Getting a home inspection from someone outside of your home warranty company can be a good resource for getting accurate information on the problems that could occur with your appliances and what shape they are in. 
• Customizable coverage—When choosing a home warranty company, it is important to not only research potential overall coverage plans, but also to look into the possibility of customizable coverage. Typically, customers like a general plan package, but it may not include a few appliances or systems they were hoping for. Because of this, home warranty companies that allow customizable coverage can prove to be beneficial for customers looking for a more complex plan. 

Homeowner’s insurance vs. home warranties

Understanding the difference between homeowner’s insurance and home warranties can help you determine if a home warranty is right for you. Homeowner's insurance is an insurance policy that covers accidental damage done to your home. This can include coverage for losses caused by natural disasters, fire, and theft. A home warranty is a service contract that will replace or repair the appliances you have in your home. 

Home inspection

Something to consider when deciding on a home warranty company is whether a home inspection is required. In some cases, customers prefer not to have to go through the hassle of a home inspection because it makes the transaction process a bit more complicated. Also, home inspections can have additional costs, so some customers prefer to save money at the beginning and go with a company that does not require a home inspection. However, receiving a home inspection could give you peace of mind and help you know for sure what appliances and systems will be covered in your home. There are benefits to each, so it is important to research and decide what option is best for you. 

Customer service 

A large part of home warranty coverage is the customer service and maintenance assistance customers receive from the company. Some warranty companies have faster representatives and technicians that respond quickly to claims and service requests; finding a warranty company with good customer service and dedicated workers is essential. Does the company provide an estimated completion date for their services? Does the company respond quickly to service requests? Does the company have 24-hour customer service? Does the company have good customer service reviews and no history of warranty scamming? These are all questions that are important to answer before choosing a home warranty company. 

Real estate packages

Many potential home warranty buyers are real estate agents wanting to make sure their home buyers are covered, so if this applies to you, it is beneficial to consider what home warranty companies offer such packages and if they are what you are looking for. Some home warranty companies also offer real estate agents educational materials for no charge. Having a home warranty can often help close a sale, so it’s an important benefit for real estate agents to consider.

Claim denial

Potential buyers should know some home warranty companies don’t cover all systems and appliances, especially if they have pre-existing conditions or misuse. Talk with home warranty companies and identify what they do and do not cover and to what extent they cover existing systems and appliances and normal wear and tear. You may be more eligible for one home warranty over another, so the research on claims and coverage can be essential. Most of the time this information is laid out in easy-to-find coverage contracts, but if not, talking with a home warranty representative may be quite helpful. Don’t be afraid to ask your home warranty company questions because it could save you a lot of trouble in the future.