A home warranty covers the cost of repairing plumbing, major appliances and home systems that aren’t covered by homeowners insurance. Having a home warranty is an especially good idea in Indianapolis where hot summers and cold winters add extra wear and tear to your heating and cooling systems. Our partners at ConsumerAffairs researched the best home warranty in Indianapolis to help you decide what coverage works best for your home.
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When major appliances break or critical home systems fail, it’s necessary to replace them as quickly as possible. Most people don’t want to live without a refrigerator or heat during a cold Indianapolis winter. These repairs, however, are often expensive, which can leave you in a stressful situation where a significant expense must be paid immediately. Home warranties protect you in these situations.
Before purchasing a home warranty in Indianapolis, it’s important to know what it is. A home warranty is not homeowners insurance, but it works as a supplement to homeowners insurance and covers repairs to essential home items, such as heating, ventilation and air conditioning (HVAC) systems and large appliances. On the other hand, your warranty will not cover a crack in your foundation or a leaking roof.
How to avoid a home warranty scam in Indianapolis
When you’re shopping for a home warranty in Indianapolis, make sure to ask providers if they’re licensed with the Indiana Department of Insurance. Be sure to read the fine print in the home warranty as well – you’ll want to understand what is and isn’t covered to make sure you’re buying the service you need. The contract may also require you to perform regular maintenance for the warranty to be valid.
Be sure to insist the company performs a home inspection of your appliances and your heating, cooling and plumbing systems. Many home warranty companies will advertise this isn’t necessary, but the lack of an inspection can open a loophole for unethical companies to avoid paying claims. Without the inspection, there’s no documentation proving the appliance or system wasn’t broken before the warranty was purchased.
Home warranty cost and coverage in Indianapolis
In Indianapolis, the average cost of a warranty is $132 per year, which is well below the national average of $475 for a basic plan. Typically, a warranty on your property will cover the following:
Heating, cooling and electrical system components
Different levels of plans are available in Indianapolis. Some plans may only cover a few critical items, but others offer expanded coverage that may include items like hot tubs, televisions and other appliances. Read the warranty carefully to see what’s covered and ask questions to be sure the warranty suits your needs before making any purchases.
American Home Shield has more than 50 years of experience and has paid out more than $2 billion in claims over the past five years. The company has three level of plans and allows you to build a custom plan. Many reviews praise the company’s personable and courteous technicians, but some customers in Indianapolis say they’ve had issues with poor customer service.
With plans starting at just $1 per day, THP is popular among Indiana residents on a budget. Total Home Protection has two plans that offer add-ons for enhanced coverage. File claims online or over the phone. Pre-approved contractors are sent to your home for only the deductible charged.
Select Home Warranty advertises an extensive national network of licensed, pre-approved and certified contractors. The company’s service plans cover rental properties, mobile homes, manufactured homes, single-family homes, multiple units and condos. Many customers in Indianapolis recommend the company for its hassle-free claims processing.
Choice Home Warranty offers comprehensive plans that protect against costly repairs or replacement of properly maintained heating and cooling systems and appliances. One Indianapolis reviewer wrote the company has “excellent and extremely prompt service” and that he “will continue to recommend Choice Home Warranty to [his] family and friends.”
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