Unlike home insurance, home warranty industry is loosely regulated and there are incidents of few companies not honoring their contracts
(PRWEB) March 22, 2013
HomeWarrantyReviews.com has announced its first annual home warranty awards for 2012. The awards were presented based on consumer reviews collected on its website with editorial guidance involved. The eight year old independent reviews website based in the United States aims to recognize and promote warranty companies that provide the best service in the field.
Service providers were awarded under different categories. Three nominees were listed and the best company was honored with an award in each category. The award winning companies for the year 2012 are Complete Appliance Protection under Top Rated Company category, Home Warranty of America under Best in Service category and Blue Ribbon Home Warranty under Best Regional Company category.
Companies were selected based on consumer ratings, number of recent reviews and customer satisfaction levels. A stringent selection criteria had been set up which included the size of the client-base, credibility of the company, breadth of coverage etc.
“We are proud to introduce home warranty awards to recognize the best companies in business. We believe awards such as these are necessary in order to appreciate the sincere efforts which go into serving the repair needs of homeowners” said Neil Albright, chief editor of HomeWarrantyReviews.com, who administered the awards.
Home service contracts are essentially household appliance service plans that protect homeowners from repair and replacement expenses. However, a recent survey conducted by Angie’s List reported home warranty companies to have one of the highest rates of customer dissatisfaction.
Commenting on this, Mr. Albright said, “There is often a wrong impression that home warranty contracts are designed to cover all kinds of repairs. In reality, pre-existing conditions and poorly maintained appliances are not covered while some appliances are excluded in the contract. Moreover, the turnaround for the first repair visit is generally 24 to 48 hours which is another reason for dissatisfaction.”
He also mentioned that unlike home insurance, home warranty industry is loosely regulated and there are incidents of few companies not honoring their contracts. Consumer advocates recommend consumers to be extra cautious and check the ratings of home warranty companies before purchasing.
Home service contract is $1.7 billion industry in US and was hit hard by the recession. With an expected rebound in the real estate sector, the industry is expected to grow quickly. California is the top market for the industry in the United States, followed by Pennsylvania, Florida and other coastal states.
About HomeWarrantyReviews.com - homewarrantyreviews.com is an independent review website serving the industry for the past 8 years. The website collects consumers reviews and ranks appliance service companies, thereby helping consumers choose the best company in business.