Published: November 1, 2017
Home Warranty Ranks – What You Should Know
There is an inherent conflict of interest in those companies and websites that advertise services and promote companies while also collecting monthly fees from the very companies they feature.
Unfortunately, this is not unique to the home warranty industry.
The costs associated with the relationship and the companies’ rankings, ratings and reviews are usually relative. Meaning, the more a company buys to be promoted, the higher their ranking appears to be.
Not only does this paint an inaccurate representation of how well a company is doing and how much their customers like them, but it feeds into poorly run companies getting more business from misinformed consumers.
It’s important to know which companies are the best, for real, not the ones who are paying to look like they’re the best.
That’s why for home warranty reviews, CompareHomeWarrantyQuotes.com uses HomeWarrantyReviews.com as the preferred source for ratings, rankings and reviews.
Here’s why HomeWarrantyReviews.com is a preferred source for ratings, rankings and reviews in the home warranty industry:
- HomeWarrantyReviews.com does not charge the home warranty companies they rank to be featured.
- They do not charge a fee for their review of a home warranty company, for the company to be featured on their awards page or for the company to be featured in their spotlight section.
- The algorithm and methodologies on how a home warranty company is ranked is based on consumer reviews.
How a Good, Unbiased Ranking System Works
A fair ranking system cannot be altered, but it can be weighted.
The ranking system HomeWarrantyReviews.com uses is automated through inputs by consumers. There is no human interference during the input stage, and only customers can influence the warranty providers’ ratings on their site. This is important because these ratings later form the basis of evaluation for new and potential customers. It is designed to be unbiased and representative of the views of the consumers who have home warranties with the companies being reviewed.
This ranking function is built to try to ensure that home warranty companies actively make an effort to provide good service to their customers. Those who are doing well by their customers, rank higher, and those who are not, do not.
The weighted piece comes in the form of the following criteria. Companies’ rankings are given weight for:
- Positive customer reviews, with more recent reviews getting more weight
- Tenure in the industry
- Membership with the National Home Service Contract Association, a nonprofit trade organization that monitors the home warranty industry
- Online claims and other self-service features available on the company’s website
- Effective use of social media to help consumers
- Participation in complaint resolution platforms such as the BBB, Yelp and HomeWarrantyReviews.com’s Complaint Resolution Program (CRP), which helps companies respond to complaints posted on HomeWarrantyReviews.com
HomeWarrantyReviews.com does not charge viewers for the use of their website, nor does it charge home warranty companies to host a profile on their site. They are a wholly-owned subsidiary and have no ownership in any of the 80+ home warranty companies listed on their website. The candid reviews left on HomeWarrantyReviews.com and the ratings platform is strictly meant to be informational for consumers.
The way HomeWarrantyReview.com generates revenue is through the placement of relevant ad displays on their site, and through the quality of the consumer leads they pass along to the participating home warranty companies.
Why It’s Important
It’s important to have an authority in the industry to monitor, rate and compare home warranty companies – unbiasedly.
Educating consumers on home warranty companies and plans, and providing a comparison is the sole purpose of CompareHomeWarrantyQuotes.com. Similarly, providing a true ranking of those companies based on consumer experience is the sole purpose of HomeWarrantyReviews.com.
In an industry that is almost purely digital – meaning, there are not typically brick and mortar offices where consumers can go to speak with somebody – it’s even more important to have a reputable source for ratings, rankings and reviews.
What To Look For
If consumers find themselves on websites that show a ranking of home warranty companies, they should research how those companies received their ranking. If a clear description is not provided on their methodology, reach out to learn more.
It’s not always about finding the cheapest home warranty, but about finding one from a reputable company – one you know you’ll be able to get a hold of and who will be there when and if you need to file a claim.
To check the available home warranty companies in your area, enter your zip code and search to compare home warranty quotes. And, be sure to review what other consumers are saying about the home warranty companies you’re considering buying a home warranty plan from before you make a decision.
To view the full methodology employed by HomeWarrantyReviews.com, read their How Companies Are Ranked On Our Site page.