Home Warranty info please

[jonzr]

I think y'all about have me convinced.  If I'd been paying for one all these years I'd be in the hole even after the ac repair last year.  Since I already set aside money for ins and taxes I may as well toss in a bit more for repairs.

[Big Virgil]

So what? I have to wait six months to file a claim?

Absolutely.  Well, maybe 30 to 60 days

Any time I buy a used car, I buy an extended warranty.  One used car lot I have used a few times, you have to be affiliated with one of their member credit unions, and they are generally about $2,000 below blue book.  I buy a warranty that lets me take it to a dealership for repair (instead of their on site hack mechanics).  After 30 days, take it to a dealership and let them fix everything they find.  Last used car, the warranty was about 1,500 and the dealership did about $2,000 of repair.  Took it back again before the warranty expired for a few other things that they fixed too. 

I know I'm not talking about a house here, but I think the concept is the same.

[Ytownsteelfan]

On top of that, lets say you pay into the insurance for 10 years, nothing goes wrong.  Then you hit a financial snag and let the insurance lapse because its lower on the priority list than say food or electric.  Murphy's law states that at that time, something will go wrong.  Not only have you paid these pricks all that money for 10 years, but now you are boned on the repair as well.  You are better off providing your own insurance by saving that monthly payment in a savings account, or a coffee can in the back yard.  But thats only my .02 cents worth.

[Big Virgil]

Nobody can argue with that. 

Just like car insurance, you pay for it and hope you never have to use it.

[Joetorious]

Warranties and insurance are two different things (but both seem to be equally worthless). Re: warranties, I don't know why there should be a "file-a-claim waiting period." Nor do I understand why they don't cover A) preexisting conditions; B ) improper installs (if installed by a previous owner); or C) anything.

Like I said, fuck home warranties. In PA, homeowners insurance is mandatory, so it is what it is.

On a side note, my home in Pittsburgh is covered for volcano damage. When I asked if I could eliminate that coverage for a reduced premium or swap it for something more useful, they said no. (I recently tried getting earthquake coverage due to all the O&G fracing going on here and was denied because my house is stone - total crap.)