How to Choose an Indiana Home Warranty
Whether you should invest in an Indiana home warranty will depend on your preferences and circumstances. Here’s what to know.
Written by Elaine Yang
Reviewed by Melanie Reiff
Before jumping the gun and purchasing a home warranty policy in
Indiana
, you need to be careful—some companies don’t offer satisfactory service and may have hidden fees and exclusions. Purchasing and maintaining a home is one of the most expensive investments you’ll make in your lifetime. Not only does a home come with a mortgage that’ll follow you for years to come, but you may also face unexpected maintenance costs
The
car
and home insurance
super app Jerry
knows how important it is to save money
and choose smart investments. That’s why we’ve compiled this handy guide to understanding home warranties in Indiana, including a list of some of the top companies that service the Hoosier State.Let Jerry find you the best homeowners insurance policy for your needs
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What is a home warranty?
As a service contract that can be purchased for one year at a time, a home warranty gives homeowners access to heavily discounted rates for home maintenance bills. Whether you need to repair or replace a major home system (like heating and air conditioning) or a home appliance (like a refrigerator or stove), having a home warranty in place can save you both money and time.
Home warranty vs. home insurance
You might be asking yourself—isn’t that covered by my homeowners insurance policy? Why would I need a home warranty?
While many people may confuse home warranties with home insurance, they are not the same. When you purchase a home insurance policy, you are insuring the structure of your home and your belongings in addition to any appliances or home systems you may have. Home insurance will only cover damage that results from certain named perils.
While incidents like fire damage or theft are covered, if your boiler begins to degrade over time, your policy will not reimburse you.
In contrast, a home warranty policy specifically addresses those expenses that arise from wear and tear and deterioration over time. There’s one important exclusion: home warranties will not cover any costs that result from intentional damage or negligence.
Do you need a home warranty in Indiana?
Home warranties aren’t mandatory in Indiana. While some homeowners buy a home warranty to act as a safety net, it may
not be the right option
for you and your situation. If you’re considering a home warranty for your Indiana home, you should consider a variety of factors.
Some people choose to purchase a home warranty if they don’t have savings set aside for emergency repairs. If you have a decent amount of savings, you may want to continue saving instead of contributing monthly payments toward a warranty.
How to choose an Indiana home warranty
Choosing the right home warranty company is crucial. You should be comparing at least three different companies before picking your provider. Remember to take into account coverage options, payment plans, customer experience (including reviews), and other factors important to you.
Before choosing a company, make sure that you read your contract carefully to avoid any unexpected fees or conditions.
To help you make your decision, Jerry has put together a list of the top five home warranty companies in Indiana.
Company | Monthly payment | Annual premium | Service fee | States not covered | BBB rating | Limits | What it’s best for |
|---|---|---|---|---|---|---|---|
Choice Home Warranty | $40 - $48 | $517-$660 | $60-$85 | Washington | B- | $500-$3,000 | Simple/straightforward, comprehensive options, sign-on initiatives and fast response times |
American Home Shield | $50 - $60 | $300-891 | $75-$125 | Alaska | B | $1,000-$6,000 | Customizable, longest reputation, highest coverage limits |
Select Home Warranty | $36-38 | $630-$765 | $60-$75 | Nevada, New Mexico, Washington, Wyoming | B | $500-$2,000 | Affordable, good customer service and high workmanship quality |
Liberty Home Guard | $40-$60 | $700-$960 | $65-$125 | Washington, Wyoming | A | $500-$2,000 | Best customer service/reviews, 60 day workmanship guarantee |
Cinch | $28 - $40 | $420-$816 | $75-$150 | Alaska, Hawaii | A- | $1,000-$2,000 | 180-day workmanship guarantee |
Let Jerry find you the best homeowners insurance policy for your needs
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* checking your rate won’t affect your credit score
The pros and cons of home warranties
You might have heard some conflicting options about home warranties. Whether someone’s telling you that home warranties are a waste of money or that they’re a must-have, your decision should be based on your own situation and needs.
To help you with your decision, we’ve put together a list of pros and cons.
Pro: No need to book a contractor
If a pipe in your dishwasher has burst overnight, you’ll be left cleaning up a mess of water and will probably want to find a contractor right away. You don’t want to panic and call the first contractor you can find and risk a poor repair job.
If you have a home warranty, your provider works with a list of contractors with a proven track record, which saves you time and stress.
Pro: Major discounts
The major selling point of a home warranty is that it gives you access to discounted rates if you need to repair or replace something in your home. An HVAC system replacement costs anywhere from $5,000 to $10,000 out of pocket, and a warranty may help cover the bulk of that.
Con: No direct line of communication
While your home warranty company will help cover your repair costs and send a trusted contractor to your home, you may not be able to communicate your preferences to your contractor. This can lead to potential instances of miscommunication or even additional charges.
Con: Low coverage limits and high service fees
Home warranties have coverage limits, much like an insurance policy. Significant repair jobs may get expensive, and your plan may not be able to cover your costs fully. Most plans have a coverage limit of $500-$5,000.
Con: Warranty companies can deny coverage
As with insurance policies, home warranty companies often deny coverage due to negligence when you attempt to claim an expense. If the previous owner of your home was negligent in maintaining your house, for instance, many home warranty contracts contain a clause that allows companies to deny your claim.
How to find affordable homeowners insurance in Indiana
With so many different factors in play, deciding whether to invest in a home warranty can be a difficult decision. Finding the right insurance, on the other hand, doesn’t have to take more than a few minutes.
Licensed broker and insurance expert
Jerry
can help you find competitive quotes in less than 45 seconds!Just download the free app and watch Jerry work its magic. You’ll get access to the best insurance quotes from top name-brand providers, and once you make your pick, Jerry does all the hard work for you to get you registered for the new policy. We’ll even cancel an old policy upon request.
“Jerrywas wonderful! I used it for my auto and renters policies. I trusted it so much that I signed up my homeowners insurance under Jerry as well. All of the agents are amazingly nice and knowledgeable.” —Mary Y.
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How much does a home warranty cost in Indiana?
Depending on your contract and plan, the average home warranty in Indiana costs anywhere from $360 to $540 per year.
How long is a new home warranty in Indiana?
Home warranty plans in Indiana are typically one year long.
What is the best home warranty company out there?
Due to its many years of experience, American Home Shield is often rated the best home warranty company. Keep in mind that the best home warranty company for you will depend on your situation and needs.
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