Before buying a home, I heard several horror stories about homeowners who had to lay down thousands of dollars to repair something in their home. Luckily, we have chosen to continue the 12 month home warranty policy underwritten by the seller of our home, which has prevented us from paying full-price for several costly home repairs. Instead of shelling out hundreds of dollars a year in home repairs (our 70-year-old-plus home has had several unprecedented issues during our inhabitance including leaking bathroom plumbing, air conditioning and furnace failure, broken dishwasher components, and water pressure issues) a few hundred dollars underwrites year-long coverage (which can be paid monthly or once a year depending on the company you go with) and then each time we have a service technician out to assess the situation, we pay $75. And, as long as the issue is a mechanical failure or due to a defect (see specific definitions on active policy) the issue gets repaired and we keep our money (beyond the $75 deductible) in our pocket.
A recent example...
With the summer heat and recent switch to A/C, we were surprised to find the thermostat reading much higher than what it was programmed to be. We contacted our home warranty (HSA) and were connected with an in-network vendor quickly (essentially you call the home warranty and they link you with a business that they work with and have approved). The vendor came out and assessed the issue. We only paid our deductible of $75 for a $500 dye test/recharge! This repair alone is worth the benefits of having an home warranty.
In the home buying market? Ask for a home warranty!
Have you been living in your home for years and you don't plan to buy a new home soon? Don't worry, many home warranty companies offer individual families the ability to purchase their own policy.
A little research and a few hundred dollars might be worth your sanity and decreased financial stress.
Had and HSA warranty and it was complete garbage! They denied any claim we made, and for things they stated were covered in their contract! Would have hired a lawyer if we had the money but we were broke fixing things that should have been covered!
ReplyDeleteAndrew:
ReplyDeleteI'm sorry to hear your experience was not a positive one.
We've had the best success when we first check typical maintenance and quick-repair issues on the appliance before calling to request a vendor.
The majority of our local in-network vendors have been top-notch and have taken care of the repair in a professional manner plus given us tips on how to maintain our home.
Our experience with HSA has been a good one.