Home warranties

1,406 Views | 19 Replies | Last: 1 mo ago by dallasiteinsa02
NWE
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AG
I'm sure it's been discussed, but my wife and I are thinking about getting a home warranty since our home is a little older (1978). We've lived in the house 3 years.

We want to have peace of mind if and when our AC and plumbing have issues.

Our water heater is brand new, so not really a concern.

Is it smart to get a home warranty or is it a scam?
nai06
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Worth it if someone else pays for it. It's usually a hassle to get repairs made and it won't happen very fast. They are going to try and it for as cheap as possible so keep that in mind as well.
sts7049
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don't waste your money. just start a slush fund for any repairs and research good contractors yourself when the time comes. the warranty companies will send you garbage contractors and fight against covering anything
mAgnoliAg
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Worst thing you could ever do. One of our customers called us out to fix an irrigation main line leak. I tracked his main line and it did not get within 20 ft of the saturated area nor were any of the valves seeping. I did a pressure test to be certain and there was no leak.

Then he goes on to tell me the story: he originally called a reputable plumber and they camerad the sewer line and found a break, along with roots in it. They gave him a quote to fix it that he did not like so he contacts his home warranty company and they send a different "plumber" who puts a camera in and finds roots. Then flushed it out and says he's good to go there's no breaks.

I go on to try and explain to the guy that if there's roots in the pipe, there's gotta be an entry point and that I'm 100% sure he has a sewer leak. Even with all the hard evidence that he doesn't have an irrigation leak, he continues to side with the warranty company's plumber to the point where he calls somebody else from our company to come look at it. Of course the warranty company kept telling him it had to be irrigation because their plumber flushed everything out and checked it all and it's all good.
ftworthag02
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We had a home warranty when we bought our first home (still there) since the realtor forced it down our throats. Complete waste of time and money. They just patched problems and your still paying $65 per visit. Our home was built around 1915. We just have a maintenance savings account just in case and have good trust worthy contractors.
Kenneth_2003
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AG
When your AC fails do you want an aging, possibly antique, unit patched together? Do you want it replaced with something kinda comparable? Do you want to take the day off because your wife feels creeped out by the guy that comes out? Do toy want to go through this several times as the attempted fix fails?

Or would you rather choose your contractor from trusted recommendations, and work with them to choose a course if action that balances cost with current technology and efficiency?
JBLHAG03
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AG
Total waste of money. I just paid $65 to have Nations send a plumber out to fix a leak and it was denied because the "original plumbing was installed incorrectly." They could deny anything with that excuse. I told them to prove it, and they just fell back on that is what their plumber said.
PeekingDuck
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AG
It is a scam.
ftworthag02
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https://www.washingtonpost.com/lifestyle/home/will-a-home-warranty-bring-you-peace-of-mind-maybe-not/2019/04/22/12d65356-5627-11e9-8ef3-fbd41a2ce4d5_story.html
EcoZapp.Makes.Crisp.Air
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Sponsor
  • From being in the business- we run Zero "Home warranty calls" - the Blood pressure / quality of ppl we're able to hire differ vastly.

-$65-400 / year home warranty policies - don't pay well on the hvac end and don't really allow anyone to do the correct job in most situations. ( Skilled Labor sitting at a red light costs $$$ / hour and the math doesn't work out.)

These policys are largely unregulated and used often to keep their lead gen to the contractors alive.
beachfront71
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I abused the crap out of mine in an old 1920's house we had..

New water heater, updated plumbing, asbestos removal and repair..

I think a lot of it has to do who shows up..sort of like your city inspectors..
Pahdz
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Had one for two years on our 35 year old home in Minnesota. Definitely paid for itself several times already and every contractor we've had out has been great and some even doing more than what was required/expected

As usual, YMMV
rlb28
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Ours has paid for itself many times over.

New pool pump
New dishwasher
New cooktop
Plumbing - fixed toilet, fixed p-trap, snaked out line twice
dallasiteinsa02
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I ran a company that we would have a few techs handling the home warranty calls. We got to keep the deductible payment. The reimbursement rates for replacing anything were almost always less than the cost of the parts. You have to come up with ways to hit the customer for extras to make it worth it or you have to just churn deductible payments by not fixing anything.

The math on what they charge for what they are promising just doesn't work.
Architelico
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if you do use one, make sure you validate the estimate that their third party contractor gives you. I had a policy and my AC unit went out. They had a service tech come out to identify a leaky indoor coil, turned off the unit and that was it. we lived off borrowed window units for about 5 days in June in Austin. when the third party vendor sent me an estimate, it was for 1800 for items that were not covered. To compound the situation, my system had all the components they said they needed to add, including filter stand, float switch, mastic and duct modification. When the repair tech came out, they wanted payment up front. I went line item by line item and pointed out all the things I already had that they wanted to charge me for. This shady SOB said for a small tip, he can call the home office and tell them to revise the quote. Long story short, I ended up paying a total of 150 ( including $20 tip) . If I wasn't familiar with the system i would have got taken behind the wood shed for $1,800. I can only imagine how may folks they rip off that are unsuspecting. anecdotal, but buyer beware.
Caesar4
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AG
Clark Howard: Are Home Warranties Worth the Money?
6.5 Swede
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Just bought a $235K home that I will use as a rental. My Realtor works for a top ten broker and he recommended this company. Seller Paid the cost. I've got the coverage contract if you want to PM me your e-mail. Here's the quote and basic coverage. Obviously, I have not used it but my realtor used them when he bought his home and they replaced a $2200 frig and one of his AC units.


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AGGODDESS
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AG
Got it
Gilligan
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A company I used to work for has a subsidiary that sells home warranties.

No bueno por caca...

I had one on my first home. AC went out.

They covered $6. Yes, that is a $6. Not $60, not $600, but $6.

When you're sweating your balls off in Houston in your first house with a newborn and all these experiences about home ownership are new to you, you learn quick home warranties are a scam.

Build relationships with different trades and keep them honest.

Learn how to do a lot of things yourself.

Properly maintain everything.

Those two things will bring you peace of mind.
dallasiteinsa02
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I have done reserve studies for condo projects that we were developing. I can't imagine what a study on a typical residential home would yield on a per year basis that would need to be set aside for what people believe they are getting. Then add marketing, sales commissions, and profit, the number that these polices would need to be at would have to be astronomically higher.
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