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Homeowners - Do you have Home Warranty?

M

Murpheeee

Diamond Member
We got one included when we bought our house and it has saved my ass twice with two major repairs

We needed to replace main electrical breaker, but it was so obscure they had to build a new box - Would have been around $500 - paid only $75 deductible

Needed to replace sump pump and clear blocked line - Would have cost another $500 - again paid only $75 deductible


So the warranty is expiring and we have to decide whether to continue it ourselves - $450/year

Just wondering how many people have them?
 
450 doesn't sound so bad after you got those two repairs for 75 bucks a pop

i'd stick with it..

is your house old ?
 
I don't own a house, but my parent's house was built in the 50s, and they bought it about 1996. It didn't come with a warranty.
 
The house was built in 1850, but completely gutted and extended 10 years ago.

How many things can go wrong in a year?

Last house we had for 3 years, it was built in 1920's did not spend a penny on repairs
 
I normally say no to anything like this but lately my Air Conditioner has been a costly pain and am thinking along the lines of an agreement for it. For the rest, I doubt it.
 
When I bought my condo (upstairs) it came with one, both toilets leaked and that cost about $600 they had to replace sheet-rock etc, ac went out $350, dishwasher died $150. So I got my moneys worth when it came time to renew I just hoped that I had got rid of all the bad luck. My garbage disposal just went out and that was about $100 so I am still ahead by about $200. The only bad part is I had to fight for everything I got otherwise they would of just weaseled out of the whole thing.
 
Just bought a house in mid December 2002... have homeowners insurance but have never heard of this "home warranty"... so:

NO.
 
I have been pretty lucky

Both contractors I got were very willing to do as much as possible since they were charging the insurance company, rather than patch up jobs I would have probably got if I was paying out of my pocket, I got very nice repairs done.
 
garbage disposal just went out and that was about $100 so I am still ahead by about $200. The only bad part is I had to fight for everything I got otherwise they would of just weaseled out of the whole thing.
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Yeah, that is the bad part AFTER getting them to show up in the first place of cours.
 
Originally posted by: rh71
Just bought a house in mid December 2002... have homeowners insurance but have never heard of this "home warranty"... so:

NO.
Click to expand...

basically covers repairs/replacement to your house including appliances, electrics, drainage etc.
some sellers include it with home to make it more attractive.

If something breaks you call the insurance company who send out an "approved" contractor, they do the work and you just pay them the deductible usually around $75
 
Originally posted by: thebestMAX
garbage disposal just went out and that was about $100 so I am still ahead by about $200. The only bad part is I had to fight for everything I got otherwise they would of just weaseled out of the whole thing.
Click to expand...

Yeah, that is the bad part AFTER getting them to show up in the first place of cours.
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And if the repair is over like $5 they have to get authorization.
 
My mortgage includes it for free for the first 2 years that I own my home.

After the initial free period expires, I don't plan on renewing. 🙂
 
Yes, bacause I just bought a new house. So I have a one-year all-coverage warranty and then a 10-year structural warranty. Any good homebuilder gives you a structural warranty. But used houses are different, though structural warranties are transferrable.
 
We bought one for the buyer of our old house. It was only 28 years old, but we felt it was an OK deal, as it protected the buyer, and made our house more attractive.

Our new (36 years old) house doesn't have one, and we would not purchase one, based on the age of the mechanicals (relatively new), and because we're planning on remodeling big portions of it anyway.
 
For those who so quickly said "NO", mind giving us an explanation as to why? Although I don't claim myself to be a home self-repairman, I do know a thing or two. But when it comes to major stuff, I would rather pass the work to real professionals. And as you know, finding a reliable and trustworthy contractors is a job in itself. I bought my home in May of last year and a home protection plan (home warranty, whatever you want to call it) came with it. I made some good use of it (replaced a faulty circuit breaker to the extended room built after the construction of the house and a couple of plumbing problems). Each time I paid $45 only. Now, my home protection plan is expiring soon and I am planning to renew it.

Btw, homeowner insurance != home warranty. I don't know about you guys, but I think $480/year (mine is $395/year) is worth the peace of mind for me.
 
Let's say in 5 years you have 2 major repairs that come up totalling about $1000

In those 5 years you've paid $2550

Still worth it? Mine expires in April (came w/ new house) and I have no intentions of renewing. I keep a house fund for just such a thing.
 
For those who so quickly said "NO", mind giving us an explanation as to why? Although I don't claim myself to be a home self-repairman, I do know a thing or two. But when it comes to major stuff, I would rather pass the work to real professionals. And as you know, finding a reliable and trustworthy contractors is a job in itself. I bought my home in May of last year and a home protection plan (home warranty, whatever you want to call it) came with it. I made some good use of it (replaced a faulty circuit breaker to the extended room built after the construction of the house and a couple of plumbing problems). Each time I paid $45 only. Now, my home protection plan is expiring soon and I am planning to renew it.
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I have no reason to, I can repair anything in my home for much less money than is paid out for this insurance.
I wouldn't trust the average contractor to work on my residence ever, there are way too many rip off artists around.
 
Well, Im still with ROGER and am looking into buying the necessary gauges and equip for AC.

Its not rocket science people, you just need the tools.
 
By reading this thread, you can tell who is good with thier hands and who are not 😉
 
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