It's sort of like those extended warranties they try to sell you when you buy an appliance or TV, or what have you. They almost always last for three years and the unit will last just one more week past that and then die. I have Sears extended on two freezers and a refrigerator and it expires soon. They want over $1200.00 for another three years. For that money I can replace one with a new one thank you very much.
It all comes down to what you are willing to spend and if it is worth it to you. Enjoy your new home.
They know all kinds of ways to wiggle out. They are in the business of making money, not paying claims. Generally if you had a home inspection when you purchased that is best bang for your buck. Real Estate agents push the warranty to cover their *** and also some get a "referral fee". Read the fine print. At renewal time read it again as they change the terms and limits, deductible and service charge as time goes on and count on you to just send the check without comparing coverage to previous policy. Along with the sister product, warranty on used cars, this area of "insurance" generates the most consumer complaints.
I've owned 3 houses over the last 30 years. One time the AC went out. It was a relay; including regular service it cost me $150.
I just got a home warranty and new to it. Any good or bad stories out there? Is it as good as it sounds. They say if my Ac goes out and they can't fix it all I pay is $75 service charge and they replace it with a brand new one. Hard to believe I only pay 75 for a $3000+ A/C. Just seems to good to be true....OR IS IT TRUE.
