Discussion Recommend me a Home Warranty for my Condo

[bob4432]

As title states recommend me a home warranty company that you have personally used and were happy with the service.

 

[sdifox]

What do you mean warranty?

 

[GodisanAtheist]

Home Owner's Insurance likely.

I'm in the US and I've been with Encompass for the whole time I've owned my home. Not sure what it means to be happy with a company, I don't file claims with them and really just keep them around for catastrophic coverage purposes.

The policy is nice in that its inclusive rather than exclusive (special form) and I keep paying them money and hope I never really have to use them.

 

[bob4432]

I mean a home warranty - they cover large appliances - refrigerator, AC, washer, dryer, stove, hot water heater, etc

 

[pete6032]

What reason do you need one for?

 

[Ken g6]

Insurance is for paying for emergencies you can't afford to pay for yourself. Do you have an emergency fund that could cover ~6 months of expenses? If so you probably don't need a home warranty. If not, you should build an emergency fund.

 

[BurnItDwn]

I believe buying a home warranty has a worse payout than investing in a pyramid scheme, buying lottery tickets, or gambling in a casino. Also, some of those things are fun for some people. I do not believe buying a home warranty will be fun for anybody at all

 

[RLGL]

A saving account in that you deposit the monthly premium that you would have paid to the wty company.

 

[Fanatical Meat]

I believe buying a home warranty has a worse payout than investing in a pyramid scheme, buying lottery tickets, or gambling in a casino. Also, some of those things are fun for some people. I do not believe buying a home warranty will be fun for anybody at all

Not so sure this is true anymore. Look at all the random BS appliances people have that continually break. Same with car warranty plans, I don’t think they are such a poor value anymore.
While I do not have a policy I believe American Home Shield is the large gold standard company.

 

[WilliamM2]

Home and Auto warranties are a scam. They will find a reason not to cover expensive failures. And if something like your AC breaks. they wil hire the cheapest company they can find. They don't pay full rates.

My family is in the auto business and has a few dealerships. They won't deal with these auto warranty companies. Why? They want to get paid.

 

[WilliamM2]

While I do not have a policy I believe American Home Shield is the large gold standard company.

I don't think so:

American Home Shield | Reviews | Better Business Bureau® Profile

View customer reviews of American Home Shield. Leave a review and share your experience with the BBB and American Home Shield.

www.bbb.org

 

[Fanatical Meat]

Home and Auto warranties are a scam. They will find a reason not to cover expensive failures. And if something like your AC breaks. they wil hire the cheapest company they can find. They don't pay full rates.

My family is in the auto business and has a few dealerships. They won't deal with these auto warranty companies. Why? They want to get paid.

Your family doesn’t sell extended warranty’s from the manufacturer or dealership?

 

[GodisanAtheist]

Your family doesn’t sell extended warranty’s from the manufacturer or dealership?

-He means all the other extended warranties are a scam

 

[imported_six]

When I brought my house, I didn't want a home warranty, so my realtor "brought" one for me. Realtor said...it's only $400 for peace of mind...in case anything break...if your kitchen gets flooded, you get a new kitchen...if your fridge dies, you get a new fridge...minus the $80 deductible. Ten months later, a pipe was leaking and the home warranty company goes "that's not covered, but we'll be very nice...here's your $400 back."

 

[GodisanAtheist]

When I brought my house, I didn't want a home warranty, so my realtor "brought" one for me. Realtor said...it's only $400 for peace of mind...in case anything break...if your kitchen gets flooded, you get a new kitchen...if your fridge dies, you get a new fridge...minus the $80 deductible. Ten months later, a pipe was leaking and the home warranty company goes "that's not covered, but we'll be very nice...here's your $400 back."

-Yeah, the home warranty market is likely propped up quite a bit by "courtesy" purchases by RE agents for their clients to boost their profile.

Our RE agent did the exact same.

 

[K1052]

-Yeah, the home warranty market is likely propped up quite a bit by "courtesy" purchases by RE agents for their clients to boost their profile.

Our RE agent did the exact same.

This also happened to me and when the term was done they were relentless in trying to get me to re up.

 

[WilliamM2]

Your family doesn’t sell extended warranty’s from the manufacturer or dealership?

Only from the manufacturer, but they don't push it. New vehicles already come with 3 year bumper to bumper, and 5 year drivetrain warranties. It's a hard item to sell.

And the manufacturer warranty does not deny claims, delay approvals, and they actually pay them book rate. Not some "negotiated rate".

I was reffering more to the auto warranties advertised by Ice-T and others...they will not work with them.

 

[Fanatical Meat]

Only from the manufacturer, but they don't push it. New vehicles already come with 3 year bumper to bumper, and 5 year drivetrain warranties. It's a hard item to sell.

And the manufacturer warranty does not deny claims, delay approvals, and they actually pay them book rate. Not some "negotiated rate".

That’s sort of my point, of course the random “we have been trying to reach you about your car warranty” calls are bullshit. The stuff bought from the dealer is legit. I don’t think these warranty plans are a scam at this time.

Edit: you guys don’t have the dude that is so good at selling stuff that selling a car is no longer worth his time and he sits in the office being the last salesperson a buyer speaks with? I admire those people. Peak of their craft.

 

[WilliamM2]

Edit: you guys don’t have the dude that is so good at selling stuff that selling a car is no longer worth his time and he sits in the office being the last salesperson a buyer speaks with? I admire those people. Peak of their craft.

Can't imagine a salesman that doesn't think selling cars is worth his time. They work on commision you know. Plus the fact they wouldn't be employed long.

No smart ass comment on American Home Shield. The "Gold Standard"?

 

[Fanatical Meat]

Can't imagine a salesman that doesn't think selling cars is worth his time. They work on commision you know. Plus the fact they wouldn't be employed long.

No smart ass comment on American Home Shield. The "Gold Standard"?

No never used them, I could be wrong about home shield
Sales thing at least in the past the car is not a big margin item, the warranty is a large margin item. Hence the best people sell the “stuff” with the best margins not the low margin junk.

 

[Lost_in_the_HTTP]

I mean a home warranty - they cover large appliances - refrigerator, AC, washer, dryer, stove, hot water heater, etc

None. Total fraud.


When you buy an appliance, consider the extended warranty the store or appliance manufacturer offers. I did that once on a refrigerator. They covered two service calls, parts and labor in full. Then on the third service call, the tech wrote it off as not worth repairing. Warranty company sent me a check for more than I paid for the refrigerator to begin with. Paid replacement cost and the prices had gone up.

 

[WilliamM2]

No never used them, I could be wrong about home shield
Sales thing at least in the past the car is not a big margin item, the warranty is a large margin item. Hence the best people sell the “stuff” with the best margins not the low margin junk.

The biggest margin IS the car/truck, second would be financing. Don't know where you got the idea it's a low margin item. Unless you think the "invoice" prices listed online are what they actually pay for the car. Hint: It's actually much less than that.

 

[Fanatical Meat]

The biggest margin IS the car/truck, second would be financing. Don't know where you got the idea it's a low margin item. Unless you think the "invoice" prices listed online are what they actually pay for the car. Hint: It's actually much less than that.

Why are you actively trying to argue? What do you get out of doing so?
I have heard and I have noticed that with the new cars I have purchased and admittedly this hasn’t happened in over a decade. The final step in purchasing is to talk about finance and extended warranty items. That person is usually the best salesperson in my opinion. They are the top tier people.
**I am a nearly 30 year sales professional & trainer.
If your family does it differently that’s fine it is simply something I have noticed over the years. Top people sell top margin.
What’s your family making for a typical sale, 15% then you have costs regarding storage of the vehicle, transportation charges, I am sure some sort of blanket insurance policy.
Extended warranty is probably labor cost and some sort of average cost for a blanket insurance clause to cover a year where you may do more repair work than average.
I don’t know the industry it just seems to me selling a dealer extended care package would be easy money. The customer is already sold on getting the car.

 

[WilliamM2]

Why are you actively trying to argue? What do you get out of doing so?

I'm not actually, sorry if it came off that way. Just correcting misinformation.

They will try and sell you a manufacturers warranty of course, not a dealer warranty. Just saying there are very few people that will buy it, so they don't push it. After all, it is a brand new car.

Not all dealers are crooked, of course my opinion is biased. I don't work there though, but most my extended family does, and I'm around them quite a bit.

 

[Red Squirrel]

Not really worth it, cheaper and easier to just deal with stuff as it happens instead of paying every single month just in case. Don't forget these companies sometimes have exceptions to what they cover so you might end up being on the hook anyway. For critical stuff like furnace always good to have a backup too, as sometimes you can't get parts right away depending what part it is. Hvac companies tend to keep common parts in stock though. In my 10+ years of living here only thing that ever went bad on my furnace is the pressure switch, which I was able to temporarily bypass when I'm home and the next day I went to get the part on my lunch hour and swapped it out that night.

Only time these type of warranty/services make sense is if you're an out of town landlord that is renting the place out, then it saves you from having to drive there every time there is an issue.