Home warranties provide insurance to protect many of the appliances and systems not covered by a home insurance policy. If a covered system or appliance breaks, the homeowner calls Fidelity National Home Warranty, which will send a repair person to fix the problem. The homeowner pays a service fee rather than the total cost of the repair.
Much like home insurance, a home warranty covers damage to appliances and systems for stated perils and certain types of water damage. It also covers breakdowns. The warranty acts as a system warranty and appliance warranty to cover home and appliance repairs.
Homeowners may choose from the standard plan, which covers dozens of household systems and appliances. Customers can also add optional coverage to cover the air conditioning system, refrigerator and pool equipment. The home warranty goes into effect after a homeowner signs a contract with the warranty company and pays the premium.
Incorporated in 1974, Concord, California-based Fidelity National Home Warranty offers affordable home warranty plans in 17 states. Fidelity National Financial purchased the company in 1996.
The Fidelity National Home Warranty platform is straightforward, informative and simple to use.
Here’s how the home warranty service works:
When a homeowner notices a toilet backing up, they call for a repair, and it will be fixed as soon as possible. If the problem cannot be fixed, the company will send a new toilet and a licensed plumber to install it.
Homeowners can click on multiple places on the website to file a claim. They can also renew their policies by clicking on a button.
Homeowners who purchased the home warranty can also access a number of helpful videos online to learn how to make their own repairs. The videos cover everything from checking smoke detectors to fixing garbage disposals and flushing out hot water heaters.
The Standard Plan covers:
Fidelity National Home Warranty offers several tiers of plans starting with the Standard Plan. Extra coverage is available on the Comprehensive Plus Plan, Enhanced Plan or Enhanced Plus Plan.
The Comprehensive Plus Plan includes all systems and appliances on the Standard Plan, as well as coverage for the garage door opener, ceiling fans, dishwasher, oven, built-in microwave and trash compactor.
The Enhanced Plan adds coverage for smart home devices, a washer and dryer set and kitchen refrigerator in addition to all items on the Standard and Comprehensive Plan. This coverage does not extend to a refrigerator that sits somewhere else in the house, such as in a basement or garage. The warranty also covers dual compressor units.
The Enhanced Plus Plan includes all systems and items on the Standard, Comprehensive and Enhanced Plan as well as a water softener and reverse osmosis water filtration system. It also covers external pipe leaks and leaks that are encased in concrete or that are not easily accessible. The warranty also covers plumbing stoppages, radiant hot water or steam heat plumbing issues and water heater expansion tanks. It also offers an increase in the coverage limit for code violations.
Real estate agents who are insured for errors and omissions with CRES Advantage can offer their clients 13 months of coverage for the price of 12 months. By placing the CRES Advantage plan on homeowner transactions, the real estate agent could reduce their errors and omissions deductible by $5,000 if they get sued for a covered error or omission.
Real estate agents who represent sellers on the CRES Advantage plan could qualify their sellers for $50,000 of errors and omissions coverage through the seller's protection plan. Houses with home warranties may sell faster and get offers closer to their asking price. A home warranty is attractive to homebuyers who may have funds to purchase a home but don’t have the money to tackle repairs as they come up. Sellers appreciate home warranties because they protect the home while it is on the market. Listings that promote a home warranty are more attractive to buyers.
Service providers have access to an online dashboard that automatically notifies them of service requests. They can use the dashboard to update claims, manage invoices and review data related to their performance.
The warranty company supplies service providers with repeat business without the cost of marketing. The approval process is timely and efficient, so service providers can get to work quickly on repairs. Satisfied customers are likely to call on service providers again, allowing the service companies to expand their customer base. Service providers can also count on payment within 14 days of the warranty company receiving their invoice.
Benzinga gives Fidelity National Home Warranty 5 of 5 stars for its product offering because it caters to homeowners, real estate agents and service providers. The website is attractive, clear and user-friendly. The action buttons for filing a claim and renewing a warranty are visible and clear.