HOME WARRANTY CO's

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bearfoot

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i"m sure many here on SWF don't have a policy/ contract on the appliances in your home. have had one for several years, every year they raise the installment yearly payment, last year and this year they raised the CO PAY on the upcomeing contract. and if item needs replaced, new contract a $100 charge on replaceing the appliance, so the co pay $150 for the service call + $100. respond w/ your thoughts about co's you have used, and the co's that you might be useing now. of course list the company that is a 4 or 5 star. checked w the BBB yesterday. they related alot of complaints yearly on HOME WARRANTY CO's. thank everyone for your thoughts and info.
 
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Pretty sure I learned in business school to insure the house, not the screen door. Gotta cover their losses, and overhead and profit.
Plenty incentive to stiff you whenever possible.
Gotta make your own choices.
 
thank you for the replies. it's true gotta make a choice. just looking to see what some of the members have experenced.
 
Home warranties, like auto warranties are a lucrative business. Otherwise They wouldn't be able to afford the lavish advertising. Just put the money You would pay Them in a new savings account on the day You would pay them. When You need a repair You will probably have more than enough to call a real technician and not have all the hassles. Only problem with this method is keeping the mitts off the funds. One has to be stronger than the pull of money just sitting gathering interest.
 
When I get feed up with high prices I always write or call and ask them to drop their prices.
I then go find a new company for a lower price.

When I don't send them their $$$ and they send flyers for it or finally email or actually make a phone call, I love it when I can actually talk to a "Real person" and listen to them tell me how I am really missing out and
maybe they even drop their prices, but it is to late, as I giggle to myself.
 
Never had one, never will. I did take an extended warranty on out new refrigerator. As I do not expect it to be trouble free for very long! Ovens and DW are easy to fix or replace. We just had a new central air and heat put in so thats good. Last one lasted 20 years with 2 service call,


Just like insurance add up your monthly or yearly fees and put that away in a reserve saving, How much have you paid into the company, how much have you received in service??
 
Well, I have one that i have continued from my mother, through Sears. it covers the dishwasher, refrigerator, 2 freezers and the stove. Cost 600/year, but they own fixing it or replacing it. No copay. Guy came last week to work on refrigerator. 1 day service. They have always been good and responsive.

Would I have done it on my own, who knows?
 
Usually a big waste of money! You spend, spend spend and by the time you need the insurance you have wound up spending more on the insurance than what it would cost to replace or repair the item.

Believe me, they would never offer this insurance if they were not making tons of money at it!
 
rockquarry said:
Used two; they're barely a step above pure unethical scammers. Probably about the same as the car extended warranty crooks.
Click to expand...

I've had two cars from CARMAX where I've had to use the extended warranty I bought. The first one they replaced the motor for almost what I paid for the car. Then when I decided I still couldn't trust it, they refunded the balance of the years that I had not used. Color me shocked. Coworker's stepson works at a Mercedes dealership and he reckons the top end CARMAX warranty is the gold standard of the industry, right up there with anything the so-called prestige makers will give you.
 
LVSteve said:
I've had two cars from CARMAX where I've had to use the extended warranty I bought. The first one they replaced the motor for almost what I paid for the car. Then when I decided I still couldn't trust it, they refunded the balance of the years that I had not used. Color me shocked. Coworker's stepson works at a Mercedes dealership and he reckons the top end CARMAX warranty is the gold standard of the industry, right up there with anything the so-called prestige makers will give you.
Click to expand...

There are sometimes exceptions and it's refreshing to hear of such, but I'll stand by my original comment.
 
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Bought extended warranty on the cars I've bought for my wife whose job took her on the road to all sorts of places. Saved me $1,100 on a transmission, little more than that on a wiring harness that had to be replaced. No deductibles. The wiring harness failed right at two months after the factory warranty ran out. Now retired she no longer drives 40-50K annually.

Never had a home warranty. Both of my daughters have home warranties. Each has been well pleased with the service provided. Well worth the price paid. YMMV. Sincerely. bruce.
 
All "insurance" is a Ponzi scam. Insurance companies depend on having more clients paying in than making claims. That's why CA and FL are losing property insurance coverages. Any HO insurance company can afford a few total losses, but a fire or hurricane can wipe out hundred, if not thousands, of home in a day, and then the insurance companies are caught short and cry uncle.
 
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