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Started By
Message
Any advice on home warranty companies??
Posted on 8/20/15 at 8:30 am
Posted on 8/20/15 at 8:30 am
I'm closing on Sept. 24 and looking at home warranty companies. Sellers are paying $500 for the first year. They all have terrible reviews.
6
Posted on 8/20/15 at 8:35 am to mule74
How old is your soon to be purchased house?
To my knowledge they're all equally bad. However they appear to make sense for folks who can't save on older homes.
To my knowledge they're all equally bad. However they appear to make sense for folks who can't save on older homes.
Posted on 8/20/15 at 9:00 am to mule74
My sister has First American and one of my good friends have AHS. Both of them went two weeks in July without a working air conditioner, as they awaited the warranty company to send out a repairman.
I have a friend who owns an appliance repair business and he tells me point blank that warranty jobs are always bumped. A cash paying customer can call at 3 pm needing a repair and he will bump a warranty customer 5 pm appt to get the cash customer in.
Honestly I'd ask the sellers to just pay $500 more of your closing costs, and take the $500 you are not paying at closing, and save it for future repairs. The warranty companies suck, and you still have to pay a fee for each call.
I have a friend who owns an appliance repair business and he tells me point blank that warranty jobs are always bumped. A cash paying customer can call at 3 pm needing a repair and he will bump a warranty customer 5 pm appt to get the cash customer in.
Honestly I'd ask the sellers to just pay $500 more of your closing costs, and take the $500 you are not paying at closing, and save it for future repairs. The warranty companies suck, and you still have to pay a fee for each call.
Posted on 8/20/15 at 9:10 am to LSUFanHouston
quote:
Honestly I'd ask the sellers to just pay $500 more of your closing costs, and take the $500 you are not paying at closing, and save it for future repairs. The warranty companies suck, and you still have to pay a fee for each call.
LSUFanHouston nailed it
Posted on 8/20/15 at 9:43 am to mule74
I had Old Republic. Used it twice and they were more than generous with how they treated me. They jack up there rates like 50% when you go to renew.
I just signed up with Total Protect. Recommended to me by some family members who have been happy with them, but I haven't had a claim with them yet.
Personally, I would get it over getting $500 added to closing costs. Always a lot of unexpected costs in the first year of owning a house, would rather have the piece of mind knowing that if something major like the AC blows out you wont have to pay the full out of pocket price to fix/replace it.
I just signed up with Total Protect. Recommended to me by some family members who have been happy with them, but I haven't had a claim with them yet.
Personally, I would get it over getting $500 added to closing costs. Always a lot of unexpected costs in the first year of owning a house, would rather have the piece of mind knowing that if something major like the AC blows out you wont have to pay the full out of pocket price to fix/replace it.
Posted on 8/20/15 at 10:09 am to FlyingTiger85
quote:
Personally, I would get it over getting $500 added to closing costs. Always a lot of unexpected costs in the first year of owning a house, would rather have the piece of mind knowing that if something major like the AC blows out you wont have to pay the full out of pocket price to fix/replace it.
I would totally agree with you if the warranty company was useful and reputable. Perhaps those companies you listed are better at this game.
I've also found with these types of companies that they pay for the absolute cheapest repair possible. I had another friend that got slightly better response time on an A/C issue but they had to call out 7 times over a summer because the same thing kept breaking, and the warranty company wouldn't pay to fix it right.
Posted on 8/20/15 at 10:13 am to mule74
Unless you have really old, unreliable appliances, ask for the money at close.
Posted on 8/20/15 at 12:16 pm to sneakytiger
My builder came back and took care of some nitpicky stuff like touch-up paint, sealing some areas at the bottom of the door in the back, etc. Mostly just by calling his subs.
The most I've had done in two years of ownership is had a tile replaced on my countertop and then a regrout due to issues with the original workmanship.
We also had a builder paid warranty the first year as well. We let it lapse. We have new construction so we're fairly confident and have savings to take care of the rest.
The most I've had done in two years of ownership is had a tile replaced on my countertop and then a regrout due to issues with the original workmanship.
We also had a builder paid warranty the first year as well. We let it lapse. We have new construction so we're fairly confident and have savings to take care of the rest.
Posted on 8/20/15 at 2:23 pm to mule74
Home warranty companies will send out a contractor to investigate a warranty claim allegedly to reapir, but their main purpose is to find a way to exclude the claim.
Sellers paid for my brother to have a home warranty with First American. A/C downstairs goes out so they send someone. The guy tells him that his downstairs thermostat is not set up to code and thus is not covered under the warranty. He then quotes him $1300 to fix the problem and charges $75 for the visit. He actually charged to come out and find a way to exclude coverage.
Call random A/C guy from google to come look. He fixes A/C in 30 min by replacing faulty float switch for $100 or so. A/C guy says that the thermostat met code and the wiring suggested by the home warranty company was unecessary and unrelated to the A/C issue.
Home warranties are scams. They will find anyway to exclude coverage.
Sellers paid for my brother to have a home warranty with First American. A/C downstairs goes out so they send someone. The guy tells him that his downstairs thermostat is not set up to code and thus is not covered under the warranty. He then quotes him $1300 to fix the problem and charges $75 for the visit. He actually charged to come out and find a way to exclude coverage.
Call random A/C guy from google to come look. He fixes A/C in 30 min by replacing faulty float switch for $100 or so. A/C guy says that the thermostat met code and the wiring suggested by the home warranty company was unecessary and unrelated to the A/C issue.
Home warranties are scams. They will find anyway to exclude coverage.
This post was edited on 8/20/15 at 2:26 pm
Posted on 8/20/15 at 9:53 pm to NOFOX
It's not always the warranty company but some of the techs. Even without a warranty if I have a Hvac problem I can call a few techs and I can guarantee that you'll get a few different answers about what's the problem with the Hvac.
To the poster that switched from old republic to another provider I'd be leary of a provider that doesn't have a local manager
To the poster that switched from old republic to another provider I'd be leary of a provider that doesn't have a local manager
Posted on 8/20/15 at 10:08 pm to mule74
I have never heard anything good about home warranty companies.
Perhaps you and the seller should agree to a good outside inspection of the house.
AC & heating unit, major appliances, plumbing, foundation, roof, wall structure, electrical wiring...
How old is the AC & heating unit, major appliances...stuff like that.
Then work off that.
Perhaps you and the seller should agree to a good outside inspection of the house.
AC & heating unit, major appliances, plumbing, foundation, roof, wall structure, electrical wiring...
How old is the AC & heating unit, major appliances...stuff like that.
Then work off that.
Posted on 8/20/15 at 10:08 pm to NOFOX
quote:
Home warranty companies will send out a contractor to investigate a warranty claim allegedly to reapir, but their main purpose is to find a way to exclude the claim.
Sellers paid for my brother to have a home warranty with First American. A/C downstairs goes out so they send someone. The guy tells him that his downstairs thermostat is not set up to code and thus is not covered under the warranty. He then quotes him $1300 to fix the problem and charges $75 for the visit. He actually charged to come out and find a way to exclude coverage.
Call random A/C guy from google to come look. He fixes A/C in 30 min by replacing faulty float switch for $100 or so. A/C guy says that the thermostat met code and the wiring suggested by the home warranty company was unecessary and unrelated to the A/C issue.
Home warranties are scams. They will find anyway to exclude coverage.
i think your brother had a bad experience with ONE contractor. I have been dealing with old republic for 4 years on a 4 plex. I have had 4 total claims, might be running a 50% loss ratio at best, and have zero complaints about the peace of mind coverage that i have.
Insurance is a really really simple concept.... you pay a small guaranteed loss so that you never have to deal with a large, potentially affordable catastrophic loss.
Posted on 8/20/15 at 10:24 pm to Mr.Perfect
They are all terrible. Be prepared to argue and have your stuff together. It's worth it to have though just in case.
Posted on 8/20/15 at 11:48 pm to Serraneaux
Well ....cool
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