Home Warranty info please

[jonzr]

Anyone use a home warranty?  We had one when we first purchased our home but let it lapse.  After replacing an a/c compressor last year, I wish we'd have kept it up. 

So, anyone have recommendations?  I checked into American Home Shield but their price seems sorta high, over $600/yr.  But with the a/c job I could have purchased about 5 yrs worth so maybe that's about right.

[aj_law]

Save your money...IMO.

[jonzr]

That's what I thought until I paid for that compressor last year.  Was thinking I should get coverage before the other one keels over - it's the same age.

[aj_law]

Well, buying coverage is a sure fire way to guarantee nothing else breaks.

Murphy's Law.

Similar to this winter.  Everyone in my area can thank me for the lack of snow.  Bought a big assed new snowblower at the start of the season.  Used it once...on like, 4 inches of snow.  Not complainin', though.

[jonzr]

True dat.  It would be worth the money.  And I guess the converse is true as well - when coverage ends, shit blows up.  I'm not a warranty buyer - tvs, computers, vacuum cleaners, whatever.  I figure if it works long enough to make it past the manufacturer's warranty, I'm probably good.  But these major home repairs are expensive as fuck.

[Brinker]

In the mortgage business we always recommended American Home Shield.  They are the best.

Www.Ahs.com

[jonzr]

In the mortgage business we always recommended American Home Shield.  They are the best.

Www.Ahs.com

And the most expensive so far.  Had any experience with Old Republic Home Warranty?

[Joetorious]

Fuck - I repeat, FUCK! - home warranties. One was included with the house I bought about a year ago. It was worthless.

I filed three super-legitimate claims in the first weekend I lived there (malfunctioning water heater, malfunctioning heater and broken water line from source to refrigerator, which caused water to look through my basement ceiling).

After paying several deductibles, I was told they wouldn't cover anything because - get this - they were pre-existing conditions. Well, no shit. I had just moved in. So what? I have to wait six months to file a claim?

I since filed a few more legitimate claims only to realize they don't cover shit.

It's a criminal racket. Don't do it. Burning $600 would be more fun and beneficial.

[otismalibu]

I say fuck any extended warranties - unless they're free.
Had a deal when we bought our Toyota. It was $900 for something like 6 yrs and you could get it all back (within a small claim window) if you never made a claim. Time was up with no claim and they refused to refund my money. Al Gore's internet came in mighty handy, because I worked both the company and my dealership mercilessly. The dealership finally caved when I told them I'd be contacting a number of local media outlets. They gave me $450 cash, $450 shop credit and allowed me to still go after the company. A couple years later, I finally got my $900 from them too.

Took some time, but I doubled up. Probably worked out to about a penny a letter, if you tally up all the emails/letters I sent.

[Ytownsteelfan]

I am a general contractor and quite honestly, all insurances are rackets.  Granted this is home owners insurance, but basically its the same shit.  My neighbor has been paying the same insurance company $3000 a year for his farm.  Technically its a commercial farm insurance policy, but same difference.  He has been paying them that for approximately 25 to 30 years.  We had a hail storm 2 years ago, so he decides he is finally going to make his first claim.  He has his house, several out buildings and his barn.  When he originally signed up for the policy, he was told that all buildings outside of his house are covered under the term out buildings.  So he makes his claim.  Adjuster comes out, denies the barn immediately because no where in his policy does it state that his barn is covered.  Its a fucking commercial farm policy for fuck's sake.  Then on top of that, somewhere in the fine print, its states that each seperate building is considered a seperate claim.  Well he had like 5 different roofs to put on, not including his barn which they denied.  So they give him something like 18k to cover his 5 roofs, but deduct the 1k per roof deductable before he even sees the money.  So he gets like 13k to reroof 5 buildings.  He had an extremely difficult time dealing with the insurance company as well.  Do the math though.  If he would of taken that 3k per year for 30 years and buried it in a coffee can he would of had 90k instead of getting the shaft like he did.  You are better off figuring out a reasonable price per year, and sticking it in a house saving accounts or a coffee can, and forgetting about it until the time arises something goes wrong.