To determine the cheapest home warranty companies ranking, the Forbes Home editorial team analyzed 54 companies, with each company’s star rating determined by evaluating a variety of metrics and subcategories, including:
Pricing (27%)
When looking at pricing, we looked at subcategories such as example pricing as shown on the website, instant quotes and highest and lowest service fees. Pricing made up the majority of the points at 27% of the total ranking.
What’s Included in Coverage (6%)
The number of covered items in the policies and the number of optional items available for coverage determined the included coverage rating.
Credibility and Customer Satisfaction (18%)
Credibility and customer satisfaction ratings were determined by each company’s BBB grade, accreditation, reviews, complaints and the number of years in business, as well as consumer ratings on Trustpilot and Google Maps.
Customer Support (4%)
When ranking each company on customer support, we looked at service request methods and availability.
Sign-up and Restrictions (10%)
Sign-up and restriction ratings were based on the number of plans available, whether or not an inspection is required, available contract terms and whether or not age is a factor for denying system coverage.
Option to Pick Your Own Technician (4%)
Category rating was based on whether customers have the option of choosing their technician or if the company assigns one.
Contract Cancelation (4%)
We looked at any fees or penalties resulting from discontinuing coverage before the company’s threshold.
Discount Availability (3%)
Discount ratings for each company were determined by the availability of veteran or military discounts and any sign-up price reductions.
Property Types Covered (6%)
When rating for property types covered, we examined coverage availability for homes such as mobile or manufactured houses, condos and rental properties in addition to typical single-family home coverage.
Nationwide Availability (18%)
Ratings for nationwide availability includes the number of states plus DC in which coverages are available.
All figures and facts were accurate at the time of first publication.
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