5 Best Home Warranty Companies for Rental Property [2024]

When it comes to protecting your rental property and ensuring the smooth operation of essential systems and appliances, home warranties are indispensable. These warranties provide financial security for landlords by covering the cost of repairs and replacements caused by normal wear and tear.

In this article, we will explore the top home warranty companies for rental properties in 2024. These reliable and trustworthy providers offer comprehensive coverage for various systems and appliances, with customizable pricing options to suit individual needs and budgets.

Discover the best companies to safeguard your rental property investment.

Key Takeaways

• Home warranties are important for rental properties as they cover the cost of replacing old appliances and HVAC systems.
• They are especially useful for properties with older systems and appliances, and most home warranty companies will cover properties regardless of appliance age.
• Home warranties provide benefits such as keeping the property in good condition, covering the cost of repairs, and offering peace of mind and financial protection for landlords.
• Some top home warranty companies for rental properties include First American Home Warranty, American Home Shield, Select Home Warranty, Liberty Home Guard, and Cinch Home Services.

First American Home Warranty

First American Home Warranty is a reputable provider of comprehensive coverage for rental properties. They offer a highly affordable home warranty with more coverage than the average warranty. It is particularly well-suited for those who want or need a large amount of cover for their HVAC systems. First American Home Warranty also offers a First Class Upgrade option for additional coverage.

Their monthly premiums for the Basic plan start at $25.00, while the Premier plan starts at $39.50. In addition to the monthly premium, there is a standard $75 service fee. This ensures that landlords have access to fast and efficient repairs when needed.

What sets First American Home Warranty apart is their commitment to providing excellent service and coverage. They understand the importance of keeping rental properties in good condition and offer a comprehensive plan that covers the cost of repairs due to normal wear and tear. This not only saves landlords money but also saves them the hassle of finding and hiring repairmen.

American Home Shield

American Home Shield is another notable home warranty company that offers customizable pricing options and comprehensive coverage for rental properties. Here are four key points to consider about American Home Shield:

1. Coverage: American Home Shield provides coverage for a wide range of damages, including rust, corrosion, and sediment. This coverage ensures that landlords can protect their rental properties from potential damage caused by aging appliances and systems.
2. Plan Options: American Home Shield offers three main plans: Silver, Gold, and Platinum. These plans provide varying levels of coverage to suit different needs and budgets. Landlords can choose the plan that best fits their requirements and preferences.
3. Service Fee Options: American Home Shield offers flexibility when it comes to service fees. Landlords can select from three options: $75, $100, or $125. This allows for customization based on individual preferences and budget constraints.
4. Pricing: The pricing for American Home Shield plans with a $75 service fee is as follows: Silver plan costs $39.99 per month, Gold plan costs $49.99 per month, and Platinum plan costs $64.99 per month. These pricing options provide landlords with the ability to choose a plan that aligns with their budget while still receiving comprehensive coverage.

Select Home Warranty

Select Home Warranty is another reputable company that offers comprehensive coverage and affordable pricing options for rental properties. They provide three pricing plans: Bronze, Gold, and Platinum. The monthly premiums for these plans are as follows: Bronze – $40.67, Gold – $40.67, and Platinum – $46.08. In addition to the monthly premium, there is a standard $75 setup fee.

One unique feature that sets Select Home Warranty apart is their inclusion of a roof-leak protection service in their normal warranty plans. This provides added peace of mind for landlords who want to protect their properties from potential damages caused by roof leaks.

To provide a clearer understanding, here is a table summarizing the pricing plans and fees offered by Select Home Warranty:

Select Home Warranty aims to provide affordable options for landlords seeking reliable coverage for their rental properties. Their range of pricing plans and the inclusion of roof-leak protection make them a worthy consideration for those looking for comprehensive protection and peace of mind.

Liberty Home Guard

Liberty Home Guard is a reputable company that offers comprehensive coverage and affordable pricing options for rental properties. Here are four key features of Liberty Home Guard:

1. Extensive Coverage: Liberty Home Guard provides coverage for a wide range of appliances and systems, including HVAC systems, electrical systems, plumbing, and kitchen appliances. This comprehensive coverage ensures that landlords can protect their investment and minimize out-of-pocket expenses for repairs or replacements.
2. Affordable Pricing: The company offers competitive pricing options that cater to the specific needs and budgets of rental property owners. With monthly plans starting at $39.99, Liberty Home Guard provides cost-effective solutions to help landlords manage their property's maintenance expenses without breaking the bank.
3. Low Service Fee and Service Call Fee: Liberty Home Guard sets itself apart by offering a lower service fee compared to other home warranty providers. Additionally, the company charges a low service call fee, ensuring that landlords can access timely repairs and maintenance services without incurring significant additional costs.
4. Flexible Payment Plans: Liberty Home Guard understands that rental property owners may have different financial needs and preferences. To accommodate this, the company provides affordable payment plans that allow customers to spread out the cost of their home warranty coverage over time, making it more manageable and convenient.

Cinch Home Services

Moving on to another reputable home warranty company for rental properties, Cinch Home Services offers a range of options for customers seeking comprehensive coverage and unique features. Cinch Home Services sets itself apart with its unique homeowners insurance rebate plan, allowing customers to save on their insurance premiums. In addition, Cinch Home Services covers conditions such as rust and corrosion, ensuring that landlords are protected from costly repairs.

Cinch Home Services offers three monthly payment plans with different service call fees: Appliances, Systems, and Complete Home. The Appliances plan comes with a basic $100 service call fee and a monthly premium of $81.99. The Systems plan has a service call fee of $87.99 and a monthly premium of $87.99. For comprehensive coverage, the Complete Home plan has a service call fee of $102.99 and a monthly premium.

With its range of options and unique features, Cinch Home Services is a reliable choice for landlords looking for a home warranty company. Whether you need coverage for specific appliances or want comprehensive coverage for your entire rental property, Cinch Home Services has a plan that can meet your needs.

Conclusion

In conclusion, the best home warranty companies for rental property in 2024 are:

• First American Home Warranty
• American Home Shield
• Select Home Warranty
• Liberty Home Guard
• Cinch Home Services

These companies offer comprehensive coverage, flexible pricing options, and reliable service. By choosing one of these providers, landlords can ensure the protection and smooth functioning of their rental properties, providing peace of mind and financial security.