How We Evaluated Home Warranty Companies
Our specialized team evaluated several factors that homeowners consider when searching for a home warranty provider. The research team, subject matter experts, and editorial team also took into account the results of a consumer survey to determine the categories and features that shaped our best picks for home warranty providers across the country.
Our Review Process
We gathered data on the top 25 companies in the home warranty industry that represent the majority of the overall market share. We collected a total of 875 data points through online research and direct contact with companies via phone and email through a comprehensive set of 35 evaluation criteria.
Our customer survey benefitted from 538 consumers, providing valuable input on the criteria that matter most to them when choosing a service provider. We asked consumers to rank the features they consider most important in a home warranty. We found that about 74% of respondents consider plan cost the most important, followed by trade service fees at 63%, claims response times at 48%, state availability at 48%, and online pricing availability at 46%.
Plan Cost (31.48%)
The average plan cost in the most populous states – California, Texas, Florida, and New York (22.19%) trade service fee range (9.29%)
Coverage and Support (31.18%)
Payment limits (7.88%) claims response times (7.46%) available states (6.12%) waiting period (5.84%) number of claim submission channels (1.42%) number of customer support channels (1.39%) realtor plans (0.53%) home seller plans (0.53%)
Customization and Flexibility (19.72%)
Ability to use a specific repair technician (6.19%) contract length range (4.91%) free cancellation (4.40%) customizable coverage (4.22%)
Transparency (17.61%)
Online availability of plan pricing sample contract availability exclusion information availability dispute information availability
Selecting the Right Home Warranty for You
We evaluated each company based on a variety of factors that we consider most important for potential home warranty consumers. These include costs, plans, coverage, support, transparency, and customization. Using customer survey responses in our selection process, we weighted each of these factors based on the features that matter most to customers.
However, individuals have different needs, and what is important to one homeowner may be less significant to another. Our reviews serve as a guide to help you choose a service provider that fits your individual needs.
To find out which companies received the highest ratings in our reviews, be sure to check out our list of the best home warranty companies.
Source: https://www.thebalancemoney.com/home-warranty-review-methodology-5070700
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