Home Warranty Education

A Home Warranty's Worth By the Numbers

Written by Whitney Bennett

Landmark Home Warranty is statistically worth it for homeowners. Learn more here!

You may be looking into purchasing a home warranty for your house, or maybe one was included when you bought your home, and you’re up for renewal. If you haven’t had the need to use it yet, you may be asking if renewing or buying a home warranty is worth it. Will it save you money? Can you actually count on the home warranty company to help you with repairs and replacements?

Statistically – the answer to that is a resounding “yes!” Let’s take a look at Landmark’s data for the last 12 months to see if statistically your claim would be approved and paid out.

Landmark Home Warranty Approves 94% of Claims

Landmark Home Warranty is statistically worth it for homeowners. Learn more here!

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In the last 12 months, Landmark Home Warranty customers who had a system or appliance fail in their homes opened 142,531 claims. Of those claims, Landmark approved 135,006 of them for repairs or replacements. That’s a 94% approval rating!

So, when something in your home fails from normal wear and tear, make sure to look in your contract to ensure it is covered by Landmark, and then call 866.306.2999 or go online to www.landmarkhw.com/claim to open a claim. You will most likely be part of the 94% of people who have their claim approved!

It is possible to be part of the 6% of people who open a claim that is denied. Denials on claims usually happen for these few reasons:

- The failure was caused by a pre-existing condition mentioned in a home inspection that wasn’t fixed before closing.

- The failure was caused by lack of maintenance (so make sure you are maintaining your systems and appliances properly!)

- The failure was caused by something that initially seemed like it was covered under the home warranty plan, but unfortunately the diagnosis shows it is not covered under the home warranty contract.

In these cases, Landmark will deny the claim, but you can still work with the contractor to get the repair or replacement completed!

Landmark Home Warranty Paid Out over $19 Million on Claims

Landmark Home Warranty paid out $19 million in claims.

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Many homeowners wonder if a home warranty plan actually saves a homeowner money. According to TheBalance.com, most homeowners pay 1 to 4% of a home’s purchase price in repairs and replacements each year. That can be up to $12,000 a year on a $300,000 home!

Wouldn’t it be a similar idea to put money in a savings account to spend on repairs and replacements? Actually, homeowners only pay around $300-$600 a year for home warranty coverage, and through that coverage they get discounts on parts and labor. Not only does a home warranty provide repairs and replacements on expensive home systems and appliances, it also saves a homeowner money in the process. Usually, all a homeowner has to pay is their yearly fee and then the service call fee for diagnosis, which ranges between $60 and $100 per claim. Landmark pays for the rest of the repair or replacement.

Within the last 12 months, Landmark paid $19,187,907 in repairs and replacements for homeowners’ systems and appliances that have failed.

Landmark Home Warranty Completes Repairs and Replacements in an average of 6 Days.

Landmark Home Warranty completes repairs and replacements in an average of 6 days.

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Not only does Landmark Home Warranty approve most claims and pay significant amount of money on those claims, Landmark’s average speed of service from opening a claim, getting the diagnosis, ordering parts and repairing the system or appliance is 6.12 days! If you consider how busy summer months are with contractors schedules, this is extremely quick! Most systems and appliances are repaired or replaced in less than a week with a Landmark Home Warranty!

Interested in purchasing a home warranty, or renewing? Call us at 866.306.2999 or go online to www.landmarkhw.com/order.

​​​​​​​Landmark Home Warranty completes repairs and replacements in an average of 6 days, approves 94% of claims and paid out over $19 million dollars in claims in the past year.

Home Warranty Education

Everything you need to know about what a home warranty is, how it works and what it covers. Real estate professionals: use these articles to help your clients!

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