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Home Warranty any thoughts?????

Discussion in 'Off Topic Threads' started by matttrapn, May 24, 2010.

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  1. matttrapn

    matttrapn Active Member

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    Well, I trust most of you on this site... Soo, I'm thinking about a "Home Warranty". The kind which will help when your major appliances, furnace, or air-conditioner, things like that.

    Would anyone like to share experiences or possible recommendations?

    Thanks in advance,

    Matt Nicol
    Perrysburg, Ohio.
     
  2. cubancigar2000

    cubancigar2000 Well-Known Member

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    purchasing any kind of warranty is throw away money.
     
  3. neofight

    neofight TS Member

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    My experience with these has been less than stellar. Usually when appliances fail, it is a single cause and usually not that expensive to repair/replace the defective component. The warranty companies are better than i at figuring the odds and they are almost always in their favor.
     
  4. SeldomShoots

    SeldomShoots Active Member

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    Never had any personal experience with them. However, ny neighbor is a realtor who promotes them when they represent the Seller. In his opinion they are a tool only utilized to help take the seller off the hook if a buyer becomes disguntled because the water heater, or washing machine quits working after the sale of a home.

    His daughter had one on a home that she bought from the same company that underwrote the warranties he sold. The warranty company wanted to utilized used parts and components from a similar used furnace. Also, the warranty company had the say so of who would perform the work. After that he never advised a buyer to purchase the home warranty.

    You should probably read the policy or terms very carefully prior to purchasing and figure if there is any ambiguity, it will be construed against you.

    Hope this helps, John
     
  5. W.P.T.

    W.P.T. TS Member

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    There are many things that have to be considered before you buy a home warrantee, the age of the appliances, the over all condition and operation of same which should be part of the Inspection as well as a condition report by the Inspector ... If the appliances are older that say 15 years then a home warrantee is a good idea ... I have had them on every house I ever bought and am money ahead ... I have never head of any home warrantee company wanting to use used parts but anything is possible ... I have never had it happen or suggested on any of the repairs that I have had covered ... I had a built in oven replaced that was 30 years old and it would of cost me $900, but as it turned out it cost me $39.95 instead and thats for the exact same oven as we were going to replace the old one with a few weeks before it crapped out ... I have it on all of the major appliances in the house I live in now and will probably keep re newing it until all of the appliances have been replaced ... WPT ... (YAC) ...
     
  6. Force Break

    Force Break TS Member

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    I can only speak for Sears extended warrenty. I wouldn't own an appliance without one. The service portion alone is worth it. Once a year tune up, yep on the stove,washer,dryer,dishwasher. Other than that if it is broken it is fixed at no charge. They even replaced the burner grills on the stove because they chipped. A few years ago they gave me full retail value on a dishwasher they could not make work right on a new one and I bought the thing on sale three years before. Go Sears!
    Be Well
    Wayne
     
  7. bluedsteel

    bluedsteel Member

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    I had one that came with the house I purchased in 1993, and have purchased a warranty with every house I have owned since then.

    Home warrenty repair shops seem to be able to work miracles. It's amazing; your air conditioner or furnace goes out, you call an HVAC sales and service company, and they tell you that your system is totally unrepairable, it's inefficient, parts are no longer available, but if you sign up today, they can replace your entire system for "just $6500", and of course they have a payment plan to "help" you afford this sudden expense.

    The home warranty guy shows up, fixes your system for the $50 deductible, and it's good for another five years. Then, it's another $50 copay.

    Miraculous!

    bluedsteel
     
  8. twcpdc

    twcpdc Member

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    It is like any insurance. It is expensive unless you use it. You wreck your car you insurance was cheap you don.t it is expensive. So it is your peace of mind that you must decide if is worth the cost. Tom
     
  9. Big Jack

    Big Jack Well-Known Member

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    Take your time & read the fine print!..Most have limitations on age of appliances, furnace, roof, and require addittional riders to cover many items..all at addittional cost. As once said, "There's a fool born every minute."

    Big Jack
     
  10. 410 JIM

    410 JIM TS Member

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    From a former realtor: Home Warranty people pay contractors a flat rate to patch whatever is broken. These rates are usually very low so you figure the rest. Home warranties are false security for home buyers and really a sales tool for seller agents.
     
  11. Bruce Specht

    Bruce Specht Well-Known Member

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    Near but not in chicago
  12. noknock1

    noknock1 Active Member

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    We had one for about 4 years that I posted about on the water softner thread a while ago...
     
  13. himark

    himark Well-Known Member

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    I am a Realtor and will say they have a purpose and will tell you what I use for a speel.

    IF, you are buying a existing home older than 5 years old and you have minmal money down (just enough) and are able to make the payments but have very little extra $ than I highly reccomend the 295.00 Home warranty plan. I have seen it in action with one gal that would of been financialy devistating to her when she found a collapsed sewer 90 days after move in.

    IF, you are financially stable and can handle spikes in your bills paid out than they are a huge waste of money (AFTER the first year).

    After you have owned the home for a year you pretty much know whats bad and whats not so I doubt its worth the renewal.
     
  14. Catpower

    Catpower Molon Labe TS Supporters

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    I'm glad to see the HVAC industry getting bashed yeah we're all thieves, go ahead and pay for a new unit to the utility company, in high electric bills because the warranty company saved the day and kept some old ragged energy sucking POS running another five years, and it just keeps costing you more to operate

    In the past I've done work for home warranty companies, and as said before they have a very low pay scale, and WILL install used parts, and scrimp on every repair to save money

    Band aids will only stop the problem for so long
     
  15. THE-PLUMBER

    THE-PLUMBER TS Member

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    if your buying a home that has alot crap in it get one.get a quality home inspection.not one that your realtor recommend's so they get a cut after the fact.i have never bought warranty's on anything i have bought,but when i buy something it is usally one of the best of the item.has yet to bite in the butt.if the home has major item's over ten years old it might be worth it.but if it's that old you should already be looking at up dating soon any way.good luck.it like monday night football-----YOU MAKE THE CALL!!!
     
  16. Damifino

    Damifino Member

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    Bluedsteel says:


    <i>"Home warrenty repair shops seem to be able to work miracles. It's amazing; your air conditioner or furnace goes out, you call an HVAC sales and service company, and they tell you that your system is totally unrepairable, it's inefficient, parts are no longer available, but if you sign up today, they can replace your entire system for "just $6500", and of course they have a payment plan to "help" you afford this sudden expense.


    The home warranty guy shows up, fixes your system for the $50 deductible, and it's good for another five years. Then, it's another $50 copay.


    Miraculous!</i>


    FUNNY! Same thing happened to us!
     
  17. Barry C. Roach

    Barry C. Roach Well-Known Member

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    Huge premium commissions for realtors selling them. Limited coverage. Usually a sucker bet.
     
  18. bridgetoofar

    bridgetoofar TS Member

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    If Realtors like them, they can't be good.
     
  19. shot410ga

    shot410ga Well-Known Member

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    I had a seller provide a home warrenty (2 years) on a home I purchased. Three months after I purchesed the home the air conditioner went out. Then the roof leaked that winter. The warrenty company paid for everything. I would not buy a used home again without a home inspection and a warrenty paid for buy the seller.
     
  20. AJKohler

    AJKohler Member

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    Avoid National Home Protection out of New York. They were recommended to us by the fellow who bought our old house, and when we had a cracked and leaking toilet, they were willing to send the plumber to replace the seal. They said they didn't replace cracked toilets. We should have known when they had to send a new plumber because their former contract plumber stopped going on calls because they didn't pay him; they stiffed this one as well for the seal change trip. We complained to the AZ Dept. of Insurance and they issued a cease and desist order against NHP, barring them from selling insurance in AZ.

    We've had other policies with AHS, which were quite satisfactory, but now we're bare.

    Tony
     
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