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Replies: 13
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Hall of Famer [22015]
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let's talk home warranty
Aug 18, 2021, 12:27 PM
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gotten a little spoiled the last two years, having one that came w/ the new home purchase. any one run the numbers to justify the cost?
if the use from this year is repeated, it would pay for itself.
house was built in 2013 also, so getting close to that time when #### starts breaking.
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All-In [46903]
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Waste of money
Aug 18, 2021, 12:29 PM
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Everybody around here won't touch a job with a home warranty because the hassle isn't worth it.
I paid for a home warranty with the old house. Had an issue that needed to be fixed. Called HW company, they said to get a quote and send it to them.
Called 15 businesses, they asked me if it was going through HW, they all declined to even give me a quote.
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Hall of Famer [24305]
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Re: let's talk home warranty
Aug 18, 2021, 12:45 PM
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I've had a couple that were supposedly highly rated. They were a pain, and the people they sent were terrible. You definitely want to read the fine print on max coverage and what parts are covered. Now, I just put the premium I was paying into a home repair fund.
Message was edited by: p6fuller®
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CU Medallion [54759]
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^^^this. I have three
Aug 18, 2021, 1:04 PM
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cancelling 2 this week
would cancel the 3rd, except I've had a couple repairs done during this contract year, and I'd be on the hook for that cost....but I will not be renewing it
have had 2 since 2010, and the 3rd since 2018, all w/ First American....they were sometimes worth it, never 'good' to deal w/....but lately they've been horrible enough to make me swear off home warranties altogether
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All-In [40657]
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Pass
Aug 18, 2021, 1:02 PM
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We had one on our first house that they buyers gave us. They will go to any lengths to repair it, no matter the cost, rather than replacing. Wood knot.
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All-In [34486]
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Same. They were virtually useless on my HVAC and
Aug 18, 2021, 2:14 PM
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hot water heater issues.
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All-In [40657]
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Yep, we called them out for hot water heater problems
Aug 18, 2021, 2:19 PM
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Fixed it enough to get by. Guy told us that the home warranty would never replace it, even if he recommended it. Theyd just find another contractor to send that would refuse to admit that it had failed.
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All-In [40967]
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I decided many years ago to never
Aug 18, 2021, 1:19 PM
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Buy a warrenty. My thought was in the long run they have to pay out no more than about half what they take in. Sooner or later I ll make out good.
Im way to the good by thousands and can cover anything for the rest of my life.
Just keep the house maintained and you are good.
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All-In [44011]
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I've traveled that road, but #nevaragain.
Aug 18, 2021, 1:26 PM
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Falls into the 'ole too-good-to-be-true bucket.
Had one. More hassle than it was worth. Not worth it IMO.
Look at it this way:
If you buy one at say $400/year (I think they are less), how would they EVER make money if all you did was call them when your a/c unit broked?
Revenue = $8k every 20 years.
New unit (big one) = At least $8k.
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All-Conference [449]
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Re: let's talk home warranty
Aug 18, 2021, 1:29 PM
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I had one on my old house through American Home Shield. Never again. As others have said, they were a pain to deal with and sent contractors who would look for any excuse to exclude a complaint from coverage.
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Hall of Famer [22015]
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appreciate the responses
Aug 18, 2021, 1:50 PM
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I was on the fence, leaning towards a no.
looks like the numbers don't pencil for big ticket items relative to total $ in and their max pay outs...assuming things last as long as they should
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Orange Blooded [2999]
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Once you're no longer childfree, you'll be searching out any
Aug 18, 2021, 2:10 PM
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and every home improvement/repair project to do your part without wiping sharts.
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Lot o points [156198]
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Don't freaking do it.
Aug 18, 2021, 2:14 PM
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I kept mine because I was waiting for the HVAC unit to die every year. It finally died, they kicked in about $500. Screw em.
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Lot o points [163012]
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Waste o' money
Aug 18, 2021, 7:13 PM
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son had one on a house he bought, after waiting for them to come check his fridge out for 2 weeks, I just bought him one.
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