Information and Thoughts on Home Warranties?

[DinoDB1975]

How many of you freaks have a home warranty? If so, what do you think of it? Any information, anecdotes and insight would be greatly appreciated.

I just have a hard time believing that if I pay $50 a month for the warranty, I can get $500 plumbing or HVAC work done free (I know I’m oversimplifying this).

Does it work like insurance, where once you make a claim / have some work done, your monthly premium will rise?

Thanks in advance.

 

[Lejuan]

Nope, my premium stays the same regardless of whether I claim or not.

 

[BadMoon]

Do it,but $50 a month seems high to me. Where are you located?

 

[Punishment1218]

I have one through American Home Shield, and it saved my hide last year when my air went out. It was gonna cost like $750 and just cost me a $60 deductible. I also had to get a hot water heater replaced a few years ago, and it only cost $30. I will always have one on my home. Renew it every year.

 

[DinoDB1975]

Do it,but $50 a month seems high to me. Where are you located?

Northern Virginia.

Our AC went out this summer, and cost us about $600. The previous home owners replaced the AC unit a few years ago, so parts were covered (turned out to be the blower unit, which costs about $1,200) but labor (as well as the initial visit) wasn't covered.

Anyways, thanks for taking the time to respond, everyone.

 

[BadMoon]

Northern Virginia.

Our AC went out this summer, and cost us about $600. The previous home owners replaced the AC unit a few years ago, so parts were covered (turned out to be the blower unit, which costs about $1,200) but labor (as well as the initial visit) was covered.

Anyways, thanks for taking the time to respond, everyone.

Some of those areas in VA are pricey so that would make sense. I do think it is very worth while. Good luck!