Home Warranty

**jose_jimenez** · 08-10-2007 12:07 AM

I'm coming up a year of home ownership and my home warranty is up. I had to use it once, a busted water heater, and after all was said and done I spent just as much paying the plumbers that the warranty company makes you use, that I could have just paid an independent plumber to take care of it for the same price. Is this deal even worth getting through another company?

**SomeStrangeGuy** · 08-10-2007 01:51 AM

Not sure how handy you are, but that directly correlates (IMO) to the value of a home warranty. I looked into them and I felt like anything I didn't want to do - they didn't really want to make it easy for me to have done 'in case' so I passed.

I did buy title insurance though (house was foreclosed however) so beat me with a rubber cupcake.

**SomeStrangeGuy** · 08-10-2007 01:54 AM

Not to mention if that ever happens again I can change your hot water heater - problem solved

Plus, I bet if you called Pete he would even come over and inspect your plumbing for free.

**Bacchus** · 08-10-2007 02:02 AM

Originally Posted by SomeStrangeGuy

Plus, I bet if you called Pete he would even come over and inspect your plumbing for free.

Oh God, the visualization...

Ehhh,

**luvtolean** · 08-10-2007 02:17 AM

A friend had the exact same thing happen to him. Water heater broke not long after buying. The PITA involved with the "approved" plumber, the deductible, all that added up to the point it was cheaper for him to go buy one and throw it in himself...which IIRC he did after cussing out the plumber.

I won't be buying a warranty.

**SheepOfBlue** · 08-10-2007 07:26 AM

Self insure by putting that much into a house account. I suspect that house warranties are similar to extended warranties in that they are mostly commission

**DJChyk** · 08-10-2007 07:29 AM

Tornado & I didn't renew ours (it came with the home) after having 2/3 repairs deemed not covered due to "improper installation" and me getting into a shouting match with a bonehead plumber they sent. Our home is 90+ years old with two prior owners - I'm thinking they'll find "improper installation" at some point on just about everything.

The scoop on some home warranty companies: RipOff Report Consumer Affairs

**seamus** · 08-10-2007 08:43 AM

Guess I've got the only good news story on the home warranty. Our AC compressor failed last Friday and it only cost us $175 to have it replaced.

I won't renew it since I can repair 90% of the stuff in the place so it just isn't financially worth it. But it was worth requiring the sellers to pay for the year as a stop gap.

**ccwilli3** · 08-10-2007 09:00 AM

I didn't buy mine either... When the year ran out, I just kept trashing the letters they would send me to renew. With homeowners insurance and my HOA, etc, the only things that would die that I would have to cover are the water heater, the refrigerator and the A/C... You've already gotten one of those fixed so what are the odds of the others turning belly up?

**ccwilli3** · 08-10-2007 09:01 AM

Originally Posted by seamus

Guess I've got the only good news story on the home warranty. Our AC compressor failed last Friday and it only cost us $175 to have it replaced.

I won't renew it since I can repair 90% of the stuff in the place so it just isn't financially worth it. But it was worth requiring the sellers to pay for the year as a stop gap.

Seamus, do you know what it would have cost to fix/replace without the warranty?

**seamus** · 08-10-2007 09:13 AM

Originally Posted by ccwilli3

Seamus, do you know what it would have cost to fix/replace without the warranty?

It would have cost about $1200.

This is the second compressor I've had replaced. The first one was on my rental property. That one cost $1700.

**jose_jimenez** · 08-10-2007 10:02 AM

Speak of the Devil.....bastards just called (previous Home Warranty co. I used) wanting to know if I was going to renew. I told her hell no.
I would like to have a home warranty but I was just amazed at how they use fine print to get out of everything. They weasel out of almost everything so why buy it?

**Mojave954** · 08-10-2007 10:32 AM

Put thr money into a house account. Try to keep about 5k there in case of emergencies like this. Anymore than that, use the homeowners. What it is there for.

I passed on it but they still annoy me with mail and calls a yr later.

**SerialThriller** · 08-10-2007 11:19 AM

It's a gamble, so I think it's a good idea for the first year until you get more familiar with your house. After that, you should have a better idea of what kind of shape everything is in.
I used my warranty on several minor AC repairs and had no trouble with coverage and the service was good (Old Republic Home Protection). However, looking back I probably could've come out the same or a little ahead just paying regular price for the service. I renewed my warranty because my AC and water heater are pretty old, but it looks like they're going to wait until this thing runs out to die.

Like others have said, it's a good idea to have a savings account for home repairs.

**Mojave954** · 08-10-2007 01:14 PM

Originally Posted by SerialThriller

my AC and water heater are pretty old, but it looks like they're going to wait until this thing runs out to die.

Isn't that always the case????

**SomeStrangeGuy** · 08-10-2007 03:08 PM

Originally Posted by SerialThriller

Like others have said, it's a good idea to have a savings account for home repairs.

Or just buy redundant spares of everything you presently have as you can afford it. But the interest wont pay back so well then.

**ConqSoft** · 08-10-2007 03:25 PM

Just buy a spare house.

**abtech** · 08-10-2007 04:46 PM

1200 dollars for an AC compressor? I paid 2600.00 for an entire 5 ton heat pump/AC system installed. Me thinks the local contractors are winding you up . . .

**ND4SPD** · 08-10-2007 04:54 PM

Home warranty = snake oil.

I'd like to see a contractor come back and fix a wall they forgot to use a level on.

**seamus** · 08-10-2007 05:43 PM

Originally Posted by abtech

1200 dollars for an AC compressor? I paid 2600.00 for an entire 5 ton heat pump/AC system installed. Me thinks the local contractors are winding you up . . .

You'll have to send me the name of the guy you're using up there. I even called some other HVAC guys in this area and they matched prices within $50.

**luvtolean** · 08-10-2007 06:47 PM

Originally Posted by Mojave954

Put thr money into a house account. Try to keep about 5k there in case of emergencies like this. Anymore than that, use the homeowners. What it is there for.

Yep.

**BizJetGuy** · 08-10-2007 10:16 PM

Originally Posted by ND4SPD

Home warranty = snake oil.

I'd like to see a contractor come back and fix a wall they forgot to use a level on.

Ain't that the truth...

Every project I've done around our house makes me shake my head and wonder if anyone even knows what a level or square is anymore.

**SerialThriller** · 08-13-2007 11:14 AM

Originally Posted by BizJetGuy

Ain't that the truth...

Every project I've done around our house makes me shake my head and wonder if anyone even knows what a level or square is anymore.

Spoken like someone who's done tile and/or flooring work...

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