Home Warranty - Yes Or No

Discussion in Home & Property Insurance started by MrsJones • Sep 27, 2016.

  1. MrsJones

    MrsJonesActive Member

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    A while ago I received mail to purchase a home warranty. This is something that as a one time homeowner I was skeptical about due to lack of knowledge. I just happened to be visiting with my neighbor and she mentioned how she utilized this service for her home to the point that she upgraded her warranty to include appliances. I was very interested so she gave me a referral card. Do you have a home warranty and how has it worked for you?
     
  2. Theo

    TheoWell-Known Member

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    They can be useful for things like boilers, but you should always read the small print and the excess. I had boiler cover for many years and it was worth it as it's one thing you need in winter and getting a plumber out is so stressful, and expensive.

    These days you can shop around, but it can be worth it for a boiler, maybe less so for pipes. My dad let that policy go as there were too many exclusions, and wasn't worth it.
     
  3. Pat

    PatWell-Known Member

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    A home warranty can save you money on the higher priced repairs you may need in the home. The thing to look at in my mind would be how old are the items that the warranty will cover, are they close to becoming obsolete due to age and what would a new one cost to replace it when it does go out. It is like car insurance you have the coverage just to be safe, it does require a deductible but will cover what you have on your policy if you ever need to use it.
    Having a warranty can give you peace of mind knowing if something breaks you just need to make a call and it is taken care of.
     
  4. Happyflowerlady

    HappyflowerladyWell-Known Member

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    We have had a mixed experience with the home warranty. We initially had one on this house, and we kept having electrical problems. Wiring was supposed to be covered with the warranty, so we called and asked them for the electrician to come and fix the problems.
    The technician came out, looked at the wiring, and then said that because it was older wiring, it wasn't covered, and we just have to get by with what is there. This means we have to be careful not to use too many appliances or plug-ins at one time, or we blow the breaker and everything goes out.
    We have pretty well learned to deal with it; but it would have been nicer of the electrician had been able to re-wire some of the circuits so that they didn't have every thing on just a few circuits.
    The good parts was that when the heating/cooling system went out, which was several thousand dollars to replace, that was covered, so we have a new HVAC system that was installed and covered under the home warranty.
    It is just important to know what all is actually covered for thepurchase price, as well as the condition of the appliances and parts of the house are being covered.
     
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