Home Warranties
- Thread starter Taterman
- Start date
My experience has been they will do everything they can to disqualify the repair. If they do agree to the service it may take a number of days to have someone come. Then it will usually be the least expensive band aid possible. I am sure there is a good warranty out there, just have not come across it yet.
Much like extended car warranties, ( there are some good ones) do some in depth due diligence before selecting one to spend money on.
If the seller is providing it, I would not put any faith in it providing exceptional response or resolve in your time of need
Much like extended car warranties, ( there are some good ones) do some in depth due diligence before selecting one to spend money on.
If the seller is providing it, I would not put any faith in it providing exceptional response or resolve in your time of need
harley08
Blackhawk
I will never buy a warranty, you are wasting your money!
I've never had one personally but over the years in power equipment sales and service I've concluded that most, maybe
all "third party" or aftermarket warranties just flat out suck. Trying to get authorization to fix stuff correctly and then getting
paid was a bad joke. I'll no longer even talk to somebody regarding repairs under one.
If it was totally free and I couldn't negotiate a lower price without it...sure OK.
Pay for it...no way!
I figure on a 20 year old house that pretty much all the appliances and heating and cooling are going to die soon
if not recently upgraded.
If you do purchase one read ALL the fine print and check around as to who will actually accept the warranty and
possibly make repairs. All that assumes any parts are still available for a 20 year old dishwasher or clothes dryer.
all "third party" or aftermarket warranties just flat out suck. Trying to get authorization to fix stuff correctly and then getting
paid was a bad joke. I'll no longer even talk to somebody regarding repairs under one.
If it was totally free and I couldn't negotiate a lower price without it...sure OK.
Pay for it...no way!
I figure on a 20 year old house that pretty much all the appliances and heating and cooling are going to die soon
if not recently upgraded.
If you do purchase one read ALL the fine print and check around as to who will actually accept the warranty and
possibly make repairs. All that assumes any parts are still available for a 20 year old dishwasher or clothes dryer.
IF you can afford to replace a particular item, or items, my personal belief (based on many years of age :-) has been to ignore any and all warranties. In your case, you can pretty much assume the 20 yr old appliances etc are gonna die within a few years, BUT, I doubt that you will find a "warranty" that will pay what you hope it would. Remember, you will pay a premium based upon the age of the appliances etc.... the older the goods, the higher the premium. If you get a "good deal" on the premium, you might as well assume that you will never collect any money from them (at least not in YOUR lifetime). Negotiating home purchase prices in today's market it almost impossible around my area; but that might be a way to cover the appliance repairs (?).
IMHO,
J.
IMHO,
J.
contender
Ruger Guru
Having owned my own home for many, many years, I too refuse to buy any kind of warranty.
Look at what a warranty will cost monthly. Put the same amount of money each month into a separate account or safe etc. DON"T use it,, except, except for whatever the home repairs that will occur.
Just yesterday,, I had to fix a tiny pin hole leak in a pipe under my house. It cost me $28 for the pipe. I did my own repair work. Bigger stuff like when we re-did our roof,, we had the money set aside,, and could have paid for it. We also had home owners insurance that was going to pay for much of it. We paid the bill, and let the insurance pay us back.
A whole lot less stress than fighting with any company over any repairs or replacements & what they will "allow" us or worse,, dis-allow on some warranty crap. Especially if you NEED something & can't wait for them to get to you to see if you qualify for whatever they deem necessary.
Nope,, no warranty crap here. Just a good homeowners insurance policy.
Look at what a warranty will cost monthly. Put the same amount of money each month into a separate account or safe etc. DON"T use it,, except, except for whatever the home repairs that will occur.
Just yesterday,, I had to fix a tiny pin hole leak in a pipe under my house. It cost me $28 for the pipe. I did my own repair work. Bigger stuff like when we re-did our roof,, we had the money set aside,, and could have paid for it. We also had home owners insurance that was going to pay for much of it. We paid the bill, and let the insurance pay us back.
A whole lot less stress than fighting with any company over any repairs or replacements & what they will "allow" us or worse,, dis-allow on some warranty crap. Especially if you NEED something & can't wait for them to get to you to see if you qualify for whatever they deem necessary.
Nope,, no warranty crap here. Just a good homeowners insurance policy.
20 year old appliances, they are getting to be on borrowed time. I didn't see this aspect mentioned, parts to repair every one of those covered items. If you can get the part to fix it what about next time another year later. I fix most stuff, look on you tube to learn how.
My last house, I owned for 28 years. I repaired the gas furnace several times. Finally the main control part failed. As I recall 2600 to buy and have replaced. 4200 for a brand new better, stronger, more efficient unit with a warranty. I went with new. Water heater started leaking, I replaced that myself. It last 22 years.
Microwave failed, no parts available. Washer and dryer, I replaced parts as needed. When the control board failed in the washer, the cost was not worth spending the money for me to repair it. A basic new unit wasn't too much more and guess what, it came with a warranty. The pair didn't match, so what. About 2 more years and the dryer finally was too damn costly to fix. I was replacing a heat safety device at 20 bucks each month. I had 100 plus in those and 30 minutes of my time on each one before I said enough.
My opinion since your asking, your right about buying a house with 20-year-old appliances means they will be failing sooner not later. Fixing worn out stuff will be a problem. Replacing is the answer in most cases.
Sorry, I don't have the answer to your question. I never purchased any.
My last house, I owned for 28 years. I repaired the gas furnace several times. Finally the main control part failed. As I recall 2600 to buy and have replaced. 4200 for a brand new better, stronger, more efficient unit with a warranty. I went with new. Water heater started leaking, I replaced that myself. It last 22 years.
Microwave failed, no parts available. Washer and dryer, I replaced parts as needed. When the control board failed in the washer, the cost was not worth spending the money for me to repair it. A basic new unit wasn't too much more and guess what, it came with a warranty. The pair didn't match, so what. About 2 more years and the dryer finally was too damn costly to fix. I was replacing a heat safety device at 20 bucks each month. I had 100 plus in those and 30 minutes of my time on each one before I said enough.
My opinion since your asking, your right about buying a house with 20-year-old appliances means they will be failing sooner not later. Fixing worn out stuff will be a problem. Replacing is the answer in most cases.
Sorry, I don't have the answer to your question. I never purchased any.
Son had American Home Shield Warranty on two houses and was very happy with it.
They used it several times with NO problem. Since Son was away doing Navy stuff at times it worked out. They also had it on a rent house in VA while they lived in Texas.
They used it several times with NO problem. Since Son was away doing Navy stuff at times it worked out. They also had it on a rent house in VA while they lived in Texas.
Not much difference than when buying an electronic device or something like that at Wal-Mart, etc. They ring it up and then immediately ask if you want the extended warranty for XX dollaors. The item cost me well under $200 (a new laptop computer on a great sale). Extended warranty was for 2 more years (has a 1 yr warranty). Told them no. If it is going to break it probably will be within a year and if later than that I can afford to buy a new one as those prices keep falling with the rise in new technology.
The broiler coil in the top oven of my 26 year old Maytag double oven stove burned out 2 weeks ago. Cost me $39 to get a new one, which was a OEM replacement. Took me 5 minutes to replace and it works perfectly. How much time and aggravation did I save myself by not having to deal with a home warranty company who's going to try to slough off the repair/payment?
The broiler coil in the top oven of my 26 year old Maytag double oven stove burned out 2 weeks ago. Cost me $39 to get a new one, which was a OEM replacement. Took me 5 minutes to replace and it works perfectly. How much time and aggravation did I save myself by not having to deal with a home warranty company who's going to try to slough off the repair/payment?
I'd never buy anything like that. As other people have pointed out, just too many ways they could wriggle out of reimbursement.
Plus the premium on a house with 20 year old appliances would probably be higher than it’s worth.
Plus the premium on a house with 20 year old appliances would probably be higher than it’s worth.
GypsmJim
GypsmJim
I bought an item that had a lifetime warranty. It broke in a year.
They required me to send it back and all I had to pay was return shipping.
I added up the 2 shipping costs and then went on Amazon to see what that would have cost. Buying new without using the warranty was 50 cents cheaper.
They required me to send it back and all I had to pay was return shipping.
I added up the 2 shipping costs and then went on Amazon to see what that would have cost. Buying new without using the warranty was 50 cents cheaper.
When I was selling real estate, every time I wrote up an offer I asked the seller to provide a home warranty. If the new owner needed it, they had it, if not, it didn’t cost them anything.
People that buy those are either suckers or folks that don't which end of a screwdriver to hold on to. Appliances are easier and easier to repair. Mostly it's just replacing a part and instructions for that are on things like YouTube down to the last nut and bolt.
Now if you have some sort of infirmity or are just too lazy then spend your money, but understand you are paying at least four times as much.
Now if you have some sort of infirmity or are just too lazy then spend your money, but understand you are paying at least four times as much.
I wish I would have thought of doing that. I bet the seller would have provide a year of it too, but it's too late now.
I used to be an electrician, but I'm disabled now so certain things are very painful to do.
While it should be obvious, some people clearly do not understand that the companies selling those warranties are doing it to make a profit, not to go broke fixing people's appliances and other items. I generally follow the advice I read on Consumer Reports several decades ago and that was to not ever buy an extended warranty, and that holds as well for home repair warranties. Some people benefit, but the odds are you will pay the insurance company far more than they ever pay you.
I will say that one home I bought included a year of a home warranty as part of the deal, costing me nothing. It was an older house with a boiler heating system and with older appliances. Within that first year that I was in that house the boiler failed and had to be replaced, and the refrigerator failed and had to be replaced. It cost me a $50 co-pay for each of those two events, saving me a few thousand dollars. But at the end of the year I did not pay to renew the policy and for the next 6 years that I lived in that house I never had anything happen that would have been covered by the insurance.
Any insurance is a gamble. You are paying a premium to protect against a major cost or loss. Most of the time you lose out, but had the peace of mind that you were covered if that rare event occurred (like a house fire). When you add the hassles already noted in this thread by others, such as the company trying not to pay, providing a low cost and incompetent repair person to fix the problem, etc., home warranties seem about the worst insurance product on the market.
I will say that one home I bought included a year of a home warranty as part of the deal, costing me nothing. It was an older house with a boiler heating system and with older appliances. Within that first year that I was in that house the boiler failed and had to be replaced, and the refrigerator failed and had to be replaced. It cost me a $50 co-pay for each of those two events, saving me a few thousand dollars. But at the end of the year I did not pay to renew the policy and for the next 6 years that I lived in that house I never had anything happen that would have been covered by the insurance.
Any insurance is a gamble. You are paying a premium to protect against a major cost or loss. Most of the time you lose out, but had the peace of mind that you were covered if that rare event occurred (like a house fire). When you add the hassles already noted in this thread by others, such as the company trying not to pay, providing a low cost and incompetent repair person to fix the problem, etc., home warranties seem about the worst insurance product on the market.
Huskerguy72
Single-Sixer
I am in the camp of those who would never buy one. My reasoning is they are in the business to make money, expect claims to be difficult. If you are disciplined, take the premium amount and set it aside for the future.
I took care of my father until he passed this last year. A few years ago I was straightening out his finances and notice this reoccurring bill. Turns out it was a car warranty for his low mileage Ford Foxus. He was a fraud the transmission was going to go out so he was spending $40 or $50 a month. I said first, the car has hardly any miles on it and you won't be driving forever, second, you could have already saved enough for a new tyranny.
I never buy the extended warranty at stores on a product either. I have had them offer a warranty price that was more than a new one!
I took care of my father until he passed this last year. A few years ago I was straightening out his finances and notice this reoccurring bill. Turns out it was a car warranty for his low mileage Ford Foxus. He was a fraud the transmission was going to go out so he was spending $40 or $50 a month. I said first, the car has hardly any miles on it and you won't be driving forever, second, you could have already saved enough for a new tyranny.
I never buy the extended warranty at stores on a product either. I have had them offer a warranty price that was more than a new one!
In 1995, my home in Ohio the furnace failed. It was over 20 years old. So I bought a new Trane furnace and so far it is still working as of 2023. So that makes it 28 years old. Granted I could have put in a much cheaper furnace, but I probably would have had to replace it during that time. So, my suggestion is to buy the best appliance you can afford. It will last longer with less maintenance and more efficiency than a cheap one.
Totally a waste of money I would never buy a warranty
Like mentioned above, any type of insurance is for peace of mind. Rarely if ever do you get more money out then you pay into any insurance policy. Life insurance, car insurance and health insurance these are all cost we pay every month. We don’t like them, but we pay them. It’s because we don’t want one financially catastrophic issue to ruin us for years to come. Or even worse, something you can’t financially recover from.
Granted replacing a furnace or an appliance is not catastrophic, but it can easily put a dent in any bank account. So if it make you feel better, then buy them. Just read all the fine print and know what you’re buying.
Granted replacing a furnace or an appliance is not catastrophic, but it can easily put a dent in any bank account. So if it make you feel better, then buy them. Just read all the fine print and know what you’re buying.
BearBiologist
Hunter
- Joined
- Dec 4, 2021
- Messages
- 2,984
Unlike most posters here, we have had EXCELLENT experiences with our Home Warranty service (American Home Shield). They replaced our water heater with a new $900 one for our $75 service call when it went out. Fixed our A/C and then our heater. Saved us several hundred dollars each time. On the A/C, the repairman came out a good 1/2 dozen times.
Our house was built in 1950, so things are going out!
Our house was built in 1950, so things are going out!
gundog5
Single-Sixer
Home Warranties are a big waste of money. We were given one when we bought our last house. I called them about a plumbing problem and the low bid plumber came out and said he couldn’t fix the problem. Wanted to charge me $75.00 to come out. I wouldn’t pay him. The company called and threatened to cancel my policy. Told them go ahead as it was a gift. Fixed the problem myself for $8.00
I’ve had them every time I bought a house, with the seller paying for them. They came and never fixed any of the issues, despite coming back several times…AC. Once expired, I never renewed.
- Joined
- Apr 3, 2012
- Messages
- 10,877
We used to do repairs for a big one. It was a huge PIA. We had to diagnose the problem then get a pre approval over the phone. It added an hour onto every job then they wanted to pay sub standard rates.
My company will do anything for a penny. (They will loose on every job and think they will make it up with volume.)
Even our corporate offices realized it was not worth it to deal with them. When we stopped aparently we were the last one in the area who still worked for them.
People started calling us direct to fix their heat or ac and paid out of pocket. Even though they had insurance. Eventually a lot of them bought service plans from us.
My company will do anything for a penny. (They will loose on every job and think they will make it up with volume.)
Even our corporate offices realized it was not worth it to deal with them. When we stopped aparently we were the last one in the area who still worked for them.
People started calling us direct to fix their heat or ac and paid out of pocket. Even though they had insurance. Eventually a lot of them bought service plans from us.
Yep same company that Son and DIL was very happy with and saved big $$$$$ due to items breaking.
