What you should receive is specific. Vector source files, which is what allows the logo to be reproduced at any size from a favicon to a vehicle wrap. Exports in every format you will actually use, including a version with a transparent background. Variations covering full colour, single colour black, single colour white, a horizontal arrangement, a stacked one, and the mark alone without the wordmark for profile pictures. And a written assignment of the copyright to you.
That last item is the one most frequently missing and the most expensive to discover later. Absent a written assignment, the person who created the work retains the copyright in the United States, which means a logo you paid for may not be yours to modify or license. Businesses find this out years afterward, usually at the moment they want to change something.
Be careful with logos assembled from stock elements, which is what the cheapest options produce. Those elements are licensed rather than owned, other businesses may be using the same ones, and the licence frequently restricts exactly the use you intended. It also generally prevents registering the result as a trademark, because you did not create the underlying components.
Whether to spend more depends on what the logo has to do. A business whose customers evaluate visual quality as a proxy for the work, such as anything in design, hospitality, or a premium category, is buying a signal rather than a graphic. A trade business whose customers judge on reviews and responsiveness needs something clear, distinctive, and legible at small size, and beyond that the return falls off quickly.
The honest position for most first year businesses is that the logo matters less than the attention it receives. What forms your brand is how quickly you replied, whether the price matched the quote, and what happened when something went wrong. Get the logo good enough and unambiguous, secure the source files and the copyright, and spend the remaining attention on the things that actually determine what people think of you.
Ask what happens if you need a variation later, because you will. A new format for signage, a version for embroidery, a horizontal arrangement nobody anticipated. A designer who supplies the source files leaves you able to have that done by anybody. One who does not has made every future change a return visit, and that ongoing cost rarely appears in the original comparison.