What is a Home Warranty Company?

HomEase, a Home Warranty Company Offers HomEase-y Protection and Repair Coverage

For your Home Appliances and Systems

Home warranty companies offer protection products which cover the cost of appliance repairs and repairs to home systems in a residential home.

home warranty companies

Home warranty companies offer home warranties  which are sold for a fixed term, for a fixed fee. They can be billed annually, quarterly, or monthly.  Some home warranties simply cover appliance packages which include the kitchen and laundry appliances, while others cover additional fixtures, such as HVAC or boilers, or water heaters. Others cover home systems as well, such as:

  • Air conditioning and heating, duct work
  • Electrical
  • Plumbing and Stoppages
  • Water Heaters
  • Doorbells
  • Smoke Detectors
  • Ceiling Fans
  • Central Vacuums
  • Garage Door Openers
  • Built-in Food Centers
  • In ground Pools and Spas
  • Well Pumps
  • Water Softeners
  • Septic System Plumbing

Home warranty companies typically sell home warranties through real estate brokers, builders, or mortgage companies at the time of a home sale, or directly to consumers.

Working with home warranty companies are desirable by homeowners because they provide home warranty protection for the unknown, covering repair cost for mechanical breakdowns of covered products like appliance repairs.

Why are Compliant Home Warranty Companies so Important?shutterstock_1099578662

Similar to insurance policies in many ways, home warranty companies are regulated by some US states.

In those states, home warranty companies must register with the state and become licensed by the state in order to sell and perform services there, and also often put up financial securities in the form of an insurance policy, cash or bonds. There are many home warranty companies in the market that opt to either bypass these state requirements (Oklahoma Regulator Says Unlicensed Home Warranty Company Not Paying Claims) or simply operate in unregulated states. What does this mean for homeowners? Non-compliant home warranty companies are hard to hold accountable. If they're not licensed with the state or haven't put up any financial securities, it's hard for a homeowner to get satisfaction if the home warranty company denies their claim or fails to perform service adequately.

Why is Insurance Underwriting so Critical When Considering Home Warranty Companies?

It's critically important for homeowners truly interested in peace of mind to work with underwritten home warranty providers. Underwritten providers are backed by insurance companies. If for some reason the home warranty company is unable to fulfill its obligation, then the insurer is committed to doing so. What's even more important is that an insurer will set a premium for the home warranty plan. Just like your home or car insurance, part of the premium paid is set aside to cover the costs of future repairs. Insurance companies employ scary smart actuaries that look at the expected frequency of failure (how often a product fails at a certain age, in a certain environment) and severity of the repair (what it will cost to fix it). The frequency X the severity, called loss cost, is what the insurer expects to pay out over time to cover its costs, so is what it reserves to insure future claims are paid. 

Consider a scenario, and sadly, a common scenario, where the home warranty company isn't insured and aren't experienced with service delivery. They don't know how to estimate their loss costs, and don't reserve funds to cover future repairs, operating on a cash basis. If they run out of cash, your repair doesn't get covered. OUCH.

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How do Claim Limits work at Home Warranty Companies?

As home warranty companies and insurers create home warranty plans, pricing is based on not only the loss costs, but the loss costs based on certain product, contract or claim limits and deductibles. Those limits aren't intended to present an opportunity to 'say no!' when a consumer calls for service, but rather to limit cost exposure so that the home warranty can be priced in such as way as to be affordable for homeowners. Much, again like your home insurance, the higher the limit, the lower your cost. The best home warranty companies have a vetted, contracted network of service providers which they use to perform repairs, that could be used by homeowners for other repairs, such as in the case where the claim limit has been met, but the product still needs service

How do Homeowners Request Service on Broken Products from Home Warranty Companies?

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Consumers today have different expectations that they did even 5 years ago, related to how they want to interact with service providers. Home warranty companies are no different. Homeowners expect to request service via the web, the phone, chat or email. The best home warranty companies offer omni-channel consumer technologies which meets homeowners on the device in their hands, swiftly and efficiently, delivering a great customer service experiences!

How are Service Technicians Managed by Home Warranty Companies?

Have you seen news like this one?  Home warranty companies are great sales companies. They're great marketers. They are usually terrible service providers.

A 3rd party contractor network should be contracted, to both lock in repair rates, but also to dictate performance standards and safety requirements. You don't want your home warranty company to send unvetted contractors into your home!

HomEase home warranty

Say Hello to HomEase!

We know what you may have heard about home warranty companies.  But rest assured, we’re not like most home warranty companies.

You see, somewhere along the way, home warranty providers took a wrong turn. They started caring more about profits than customers. They stopped caring if people sat on hold, paid for coverage they didn’t need, or had to take cold showers in the middle of winter. Seriously, what kind of company does that!? Certainly not one focused on its customers’ experiences with their brand!

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How HomEase is Changing the World, One Home at a Time

When we set out to build HomEase, we knew we had to come up with a better way. HomeEase is dedicated to finding a more modern approach for helping you benefit from a home warranty system that’s actually useful. To figure out exactly what was broken, we asked you about your biggest frustrations. Here’s what we discovered:

  • You want one source for all your service and protection
  • You want clear terms, great technicians and reliable, hassle-free service on-demand
  • You want a smooth claims process that works for you, not against you

Of course, why wouldn’t you want those things? We want to give you all of that and more. At HomEase, our goal is to make your life easier.

We go beyond the old “break-fix” warranty model by offering the perfect mix of prevention and ongoing care. Our on-demand service and extended protection for your home products and appliances mean, whether it’s a dishwasher repair, home theater installation, or tech troubleshooting, HomEase has you covered. We provide protection and appliance repair on our dime, for covered products!

Check out our home warranties, extended electronics warranties and on demand services by clicking below!

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Frequently Asked Home Warranty Questions

 

What is a Home Warranty?

A home warranty is an annual service agreement that helps defray the expense to repair covered home system components and appliances when they break down due to normal wear and tear. 

When you request service, you'll pay a deductible to initiate the service request. 

We will schedule an appointment with a licensed, independent contractor with you to determine the issue. If the problem is covered by your home warranty, HomEase Customer Advocates will direct the contractor to repair or replace your covered item subject to the terms and conditions of the home warranty.

How is a Home Warranty different from homeowners insurance?

Homeowners insurance covers loss from incidents like fire, storms or vandalism. Home warranties pay for the cost to repair covered appliances and home systems. The coverage provided by a home warranty and homeowners insurance does not overlap but they do complement one another to provide comprehensive protection.

What does a Home Warranty cover?

A home warranty covers systems like central air conditioning, heating, plumbing, electrical, and water heaters as well as appliances such as refrigerators, stoves, washers and dryers.

What doesn’t a Home Warranty cover?

Home warranties don’t cover the costs to bring out-of-code systems into compliance, structural modifications, modifications to existing equipment, secondary damage and cosmetic issues are examples of items that may not be covered.

What's a deductible?

With a Home Warranty you pay an annual fee for the warranty. You pay a set deductible (fee) for each service call you request. The fee is collected prior to sending out a service professional to complete the request and the remainder of the bill is sent directly to HomEase by the contractor. The deductible keeps our costs down, so keeps your renewal costs down. You have no other of-pocket expenses!

Can I view a sample contract?

You can view a sample contract here. However, keep in mind that contracts and coverage vary from state to state.

When can I start using my plan?

You can start requesting service 30 days after you buy your warranty.

How do I file a claim?

When a covered item breaks down, request service by calling 833.FIX.HOMZ 

Your HomEase Customer Advocate will collect your deductible and coordinate a day and time to have a service professional come to your home. 

Your service professional will diagnose your problem and if it's covered by your home warranty, the technician will repair or replace your covered item subject to limitations and exclusions.

Are there any exclusions to my contract or limits to my coverage?

Yes. We cover breakdowns that occur due to normal wear and tear. We don’t cover damage. See how it works in this video. 

In addition, other exclusions and limitations may apply. See a sample terms and condition above.

How long does my contract last?

The standard home warranty on an existing home can be from 1- 3 years with renewals up to a certain date.

How do I request service?

Once your coverage begins, you can request service by calling 833.FIX.HOMZ.

Is there a limit to the number of repairs during my contract term?

No. We do not place a limit on the number of covered repairs, although some coverage limitations and exclusions, such as dollar amount caps, may apply.

How long until my covered item is fixed?

There are many factors that affect how long it will take for your covered item to be fixed (such as parts availability). However, since we’ve recruited our network ahead of time, our goal is to dispatch your job when you call and get the contractor out within 24 hours.

Who are the service professionals that HomEase sends out to customer’s homes?

We use licensed, independent contractors from our contracted repair network. They’re managed to specific customer service and repair metrics. And they’re reevaluated on a job by job basis. Our goal is to provide the best customer service experience possible. If a contractor falls off, he or she is out.

We thought the issue was fixed, but it’s not. What now?

We offer a 60-day warranty of work on repairs. The tech or a new one will be sent back out to get the job done.

Can I purchase coverage for my pool or outside utility line?

Yes. You can add coverage for your pool, in-ground spa or utility lines to any of our plans.

Doesn’t a manufacturer's warranty cover the same things a home warranty does?

A manufacturer's warranty typically covers the failed part of a single appliance or system, but it doesn't always cover the cost of the labor or repair. A home warranty pays to repair covered appliances and home systems that break down due to normal wear and tear outside the manufacturers’ warranties.

Can I cancel?

Yes, you can cancel at any time.

If you cancel your contract within the first 30 days of your coverage, we'll refund your contract fees minus any service and claims incurred.

 If you cancel your contract after 30 days, you'll receive a pro-rated refund of your contract fees for the rest of the contract term less any service or claims costs incurred. Terms may vary by state.

How do I cancel my Contract?

To cancel your contract, please call 833.FIX.HOMZ

Ready to Try HomEase?

See how a HomEase can make it HomEase-y to protect and repair all the products in your home.

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