Home warranty of choice?

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ctreada
Posts: 97
Joined: Tue Jun 10, 2014 1:35 pm

Home warranty of choice?

Post by ctreada »

does anyone have a home warranty company that they've had a great experience with?

we get to select one for our new house... not sure which company to go with.
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linuxology
Posts: 142
Joined: Thu Jun 23, 2011 1:34 pm

Re: Home warranty of choice?

Post by linuxology »

take the cash. getting these companies to come clean on major issues are hard. If you are buying a home, one should be prepared for repairs financially that are bound to happen. Just my two cents,
SimonJester
Posts: 2173
Joined: Tue Aug 16, 2011 12:39 pm

Re: Home warranty of choice?

Post by SimonJester »

usually those warranties are not worth the paper the are written on. I agree take the cash in lieu of the warranty. If this is a brand new construction doesn't the builder themselves warranty the house for the first year?
"They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety." - Benjamin Franklin
boglegirl
Posts: 343
Joined: Mon Dec 17, 2012 1:41 pm

Re: Home warranty of choice?

Post by boglegirl »

Another vote with linuxology and SimonJester. Take the credit for $595 or whatever it is and use it for something else. If you ever need to file a claim, the insurer will send out the lousiest cheapest contractor they can find to do the work.
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queso
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Re: Home warranty of choice?

Post by queso »

+1. Bought a house with one once and had a toilet tank crack. Reported it to the home warranty company and they would only install a builder grade toilet to replace the cracked one (never mind that it was a set that matched the pedestal sink). Ended up buying a new tank and replacing it myself. Never bothered with another home warranty.
takingcharge
Posts: 123
Joined: Tue Feb 04, 2014 10:49 pm

Re: Home warranty of choice?

Post by takingcharge »

Listen to the previous posts.

Home warranty companies are like vacuums. They all suck, some more than others. They will try to patch until something can no longer be patched, and when you and the equipment are completely worn out and replacement is the only option, you will receive the cheapest equipment possible and no input on who installs it, which is usually the most important part.

Best strategy is to have a thorough home inspection, identify the items approaching end of life, negotiate hard for funds to fix those items, close on the house, then start researching their replacement so you'll be ready when they do need replacement.
stoptothink
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Joined: Fri Dec 31, 2010 9:53 am

Re: Home warranty of choice?

Post by stoptothink »

We have a home warranty through American First, for the home we bought last November. We have had an insane amount of things simply break in <10 months, everything from plumbing to broken appliances, on a home built less than 3yrs ago. Two issues: they haven't covered a few things which IMO they should have (ie a very large vanity mirror which inexplicably fell off the wall in the middle of the night, they would not cover an issue with an existing toilet) and it took over 4-months and dozens of phone calls to get a new microwave. Not to mention their customer service is really bad, being put on hold for 1hr+ and reps who do not speak English.

I'm thankful for it, it has definitely saved us some money, but I can't imagine other options aren't better to deal with.
adamthesmythe
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Joined: Mon Sep 22, 2014 4:47 pm

Re: Home warranty of choice?

Post by adamthesmythe »

SimonJester wrote:usually those warranties are not worth the paper the are written on. I agree take the cash in lieu of the warranty. If this is a brand new construction doesn't the builder themselves warranty the house for the first year?
Ask for the money instead.
tacster
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Joined: Sat Apr 09, 2011 11:08 am
Location: Limbo.

Re: Home warranty of choice?

Post by tacster »

My new construction house came with a home warranty. One year later the warranty company went bankrupt. Never got a thing out of it.
INSERT PITHY QUOTE HERE
AZAttorney11
Posts: 759
Joined: Wed Jan 21, 2015 12:12 pm

Re: Home warranty of choice?

Post by AZAttorney11 »

I agree with the other posters that say to take the cash instead. I had American Home Shield the first year I became a home owner. I had a major appliance (that was included in the fancy coverage package the seller included) die a few weeks after closing. Long story short, it took two contractor visits, multiple phone calls, hours wasted, and eventually an escalation to a customer service manager to get things resolved. And the only reason things got resolved is because I gave the customer service manager my bar number and told her I was filing a lawsuit against American Home Shield in 48 hours if they didn't replace the unit or give me a check to buy a new unit with similar features as they were contractually obligated to do (oddly enough, American Home Shield's flimsy one page contract did not include a mandatory arbitration provision or other clause that prevented access to the public courts). I got a check a few business days after that, but the entire experience left such a bad taste in my mouth that I vowed to never deal with a home warranty company again.

Run -- don't walk -- from home warranty companies.
wilked
Posts: 1776
Joined: Thu Mar 24, 2011 1:50 pm

Re: Home warranty of choice?

Post by wilked »

I agree here, take the money. For the rare issue they will fix, they will fix it cheaply, and you'll fix it again on your own dime a few years later
sc9182
Posts: 368
Joined: Wed Aug 17, 2016 7:43 pm

Re: Home warranty of choice?

Post by sc9182 »

When you buy an existing home (not builder/new with warranty) -- you are at the risk of "unknown" -- hence a home-warranty doesn't hurt to have for the first few months (or a year).

If Realtor buys the warranty for you - usually it costs slightly less, and generally speaking (anecdotally), it carries more weight than individual purchase (as warranty companies better watch out for future business generated by that realtor!) - anybody can speak to this "for fact" ?

Also - when you move to new place/town, you may not have time/rolodex to call reputed appliance-repairmen .. these companies already built that list for you., and send a half-decent tech. You need to be a bit tough/clear on phone, while you just treat/respect that repair-person who made a long trip (quite likely, 20-50 miles away in a metro area!), and you get better repair-work done.

Most importantly - what is the price of your home ? 100K, 200K, 400K or 1 Mil ? Good thing is for most of the homes - the policy price doesn't change much (if at all). The gotcha with "rich/high-end" appliances (them Vikings/sub-zeros/built-ins etc..) is -- lately, the home-warranty companies have been putting limits/caps on $$$ for replacing appliances -- you may end-up downgrading appliance at that point. Better than losing sleep on repairing high-end appliances!
boglerdude
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Joined: Fri Jul 10, 2015 1:28 am

Re: Home warranty of choice?

Post by boglerdude »

Old Republic home warranty was decent.

Youre better off finding good contractors through angieslist & nextdoor.com
BruDude
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Joined: Thu Dec 30, 2010 12:28 am
Location: Las Vegas

Re: Home warranty of choice?

Post by BruDude »

boglerdude wrote:Old Republic home warranty was decent.

Youre better off finding good contractors through angieslist & nextdoor.com
Old Republic is the only home warranty worth buying. When I rented they were incredibly easy to work with and never denied a claim once (we had at least 8 claims, maybe 10 in the rental house in one year). Now that I own a home and bought a warranty through Choice Home Warranty, I realize that I should have paid the higher price for Old Republic. While Choice has paid out more in repairs than I've paid them in premiums and I still have two years of coverage left, they have tried to deny several claims and some things had capped benefit payouts that I wasn't aware of and don't exist on the Old Republic contract.
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