• Date Started: Jan 27, 2007
• Entries: 109
• Comments: 282
• Total Visits: 2,720,391

Once Again...Thanks RTW...WOW!!!!

6 Responses to “Once Again...Thanks RTW...WOW!!!!”

1. creditcardfree Says:
   April 3rd, 2014 at 04:36 pm 1396543008
   1396543008
   That seems like a lot of money for a year's worth of insurance on your appliances. Are yours really old? Might make sense then. I'd rather save the $600 and use it towards a repair IF needed. I only spend about $120 per year to service the heat and air. Everything else runs just fine.

2. Mooshocker Says:
   April 3rd, 2014 at 04:56 pm 1396544194
   1396544194
   Very true...However, I have a well, water softener system, septic, and deep well pump...along with my appliances, leach field, etc. At any given point, a $1,000.00 bill could hit me hard....now, it's only $45.00!!!!! Peace of mind I suppose.

3. Looking Forward Says:
   April 3rd, 2014 at 05:32 pm 1396546332
   1396546332
   The problem (as I see it) is that you have to use the company they send to you - you don't get a choice. Now, I might be wrong about your warranty company, but years back when we rented our landlord had the policy for her home and ours. Needed a plumber and the home warranty company sent out "their" contractor - he had to come out three times and she had to pay the "co-pay" each time.
   And do they cover any replacement cost? Or just repair only?

4. Mooshocker Says:
   April 3rd, 2014 at 05:40 pm 1396546845
   1396546845
   Replacement costs, repairs, etc. are all covered. However, yes, each "visit" requires the deductible of $45.00. I suppose there are downfaults along with the positives but again, by and large, I am very excited about this investment. Now, my only concern is approval of claims. I can see where there could be stringent scrutinty and there was very little online information regarding fine print policies. That said, when my paperwork comes to me for review, I do have 30 days to cancel if it isn't right for me.

5. Another Reader Says:
   April 3rd, 2014 at 06:06 pm 1396548386
   1396548386
   I have had a lot of home warranties that were thrown in with the purchase of rental properties over the years. For the most part, they were fairly worthless. Often they would try to weasel out of replacing something and their repair people were generally pretty poor. The only time I came out ahead was when the A/C units were near the end of their lives. I kept an Old Republic (best company of the lot) policy for several years. I got them to replace a range along with an A/C unit that was well beyond its useful life. Once the big dollar items were done, I dropped the policy.
   
   Like anything else, there is no free lunch. These companies would not be in business for long if they did not make more in premiums and on investing the premiums than they pay out in claims.

6. Retired To Win Says:
   April 5th, 2014 at 07:42 pm 1396726923
   1396726923
   I understand all the skepticism -- and maybe it is just the home warranty company I have used for over ten years -- but I have not experienced any of the problems that have been posed in the preceeding comments. I've had no hassles with repair approvals, the warranty company has MULTIPLE service companies for each type of repair in each locality, callbacks for the same problem have not resulted in a second deductible, etc., etc.
   
   For the whole rundown on my experience, feel free to check the blog post Moonshocker has referred to.
   
   Home Warranties Work For Me:
   

   Text is http://retired-to-win.savingadvice.com/2014/04/02/home-warranties-work-for-me_108081/ and Link is

   http://retired-to-win.savingadvice.com/2014/04/02/home-warra...
   
   And thanks again for the plug, Moonshocker!

Leave a Reply