Comments on: Home Warranties?

By: TriPolar

TriPolar — Sat, 21 Apr 2007 20:13:43 +0000

I would not have one
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By: Rex

Rex — Sat, 21 Apr 2007 04:41:33 +0000

Yes, I have a lot of experience with Home Warranty companies. Both of the companies you mentioned are good, reputable companies. You mentioned that the deductible is $50.00; that's fairly inexpensive. I have known homeowners that have a $500.00 deductible, but their premium is only about $10.00 per month. Considering the age of your home, and if do-it-yourself repairs are not up your alley, then a home warranty could be a good idea for you. Let me put it in money terms. At $35.00 per month, you will spend $420.00 annually. If one thing goes wrong your deductible will jump that to $470.00. I am a heating, air conditioning, and refrigeration contractor. My average service call is about $1000.00. So with a home warranty you have saved money and paid yourself back.

Two things to consider:

1) They will not cover pre-existing damage. If your roof starts leaking, for example, and the roofer says you need a new roof and have needed one for about 10 years, they will not cover it. They'll pay someone to fix the leak, but that's all. It must be a situation where something breaks-down suddenly and with no warning, like a furnace, toilet, appliance, etc.

2) Call them first before you contact a contractor or repairman. They have a network of preferred service providers who have signed a contract to reduce their fees for a guaranteed supply of work.

Hope this helps!

Rex
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By: Wave R

Wave R — Fri, 20 Apr 2007 20:39:11 +0000

My alarm system guy said he has the Amercian one and he loves it..and he is a guy..He just works alot and has no time for Home repairs..he swears by it..says its a great deal..they cover washers and dryers and appliences too..cool
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By: Mark G

Mark G — Sat, 14 Apr 2007 10:20:16 +0000

A home warranty is useful only for the major systems in your house, and the coverage is subject to limits then. For instance, on your air conditioning, the home warranty will likely stipulate that the repair only replaces the affected part(s), when it might make more sense to replace the unit. The result? You keep getting it fixed. Another stipulation that I ran into had to do with a hot water heater. When I had to get it replaced, the installation of the new hot water heater required cutting and reinstalling some gas pipes. That was not considered a "normal" install, and was not covered. The result? I payed $500 additional to have the hot water heater installed. I probably could have gotten the job done for the same amount or less just by shopping around.
I wouldn't get one again. If you have $40 a month you can spare, I'd suggest putting it in an interest bearing account designated for repairs. Then, when you need a repair, start with a handyman, if possible. They are the most cost effective.
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Home rehabber/investor

By: john t

john t — Sat, 14 Apr 2007 02:29:49 +0000

I KNOW A FEW PEOPLE WHO LOVE AMERICAN HOME SHEILD. IT SURE BEATS A LARGE BILL TO REPLACE ANY APPLIANCE IN YOUR HOME.
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By: PAUL A

PAUL A — Sat, 14 Apr 2007 00:39:18 +0000

Generally, you don't get something for next to nothing.
What's the deductible for a claim?
From my experience, home warranties are of limited liability.Only items shown to be of good condition are covered.
If it needs maintenance or replacing if it's broken, JUST DO IT YOURSELF!…or get your local Qualified handyman to take care of it for you!
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