Is a home warranty worth it?

I must be the only person who has had a great home warranty experience. I had one included in the purchase of my home, and it seemed like everything broke that year. There was a $55 copay for each issue, so one fee no matter how many time someone had to come out. The fridge computer panel went out. $300 fix for $55. Then the motor on the spa tub went out. $1000 fix for $55. The the a/c went out. Then the sump pump went out. You get where I'm going with this.

Sometimes its the Home Warranty Company that makes a difference. I've always hated them and have always requested a refund immediately after purchase. If you read the fine print almost everything is generally excluded and you pay a deductible--even if they come out to say it is not covered. This time, though, I couldn't cancel it.

The warranty I have now is through ABC (only located in Columbus, OH AFAIK). I had a water line warranty through them for my old house. I purchased that on my own accord. They were fantastic when it came time to make a claim. So, having the home warranty now, I tried to make a claim with ABC and found that there is NO deductible and they came out the same day. I had one water supply valve fail closed and one that dripped. They were to replace both and they even found another faulty valve and replaced it! They do their own work as well. I always DIY everything, but I'm getting busier and busier it seems. I might even renew it....

at the end of the day if the seller is going to include it with the sell, but wont take the money off the selling price to not include then get it.

But I would not renew it, nor would I out right buy it if I did not have it.

Quote from Stubbs4Prez : I have had a different experience. We just bought our home and got a home warranty with it. The house is only 11 years old and we have already called on it twice. The first because the brand new AC unit for upstairs stopped working in the Texas summer. They came out the next day and found that ants had shorted out the contacts and a few other electrical components. It was fixed within a few hours. While he was here is also got the warranty company to also cover a bad seal on the air handler. All of this was fixed for my service call fee. After that one call,we were within $100 of what the warranty cost. The second call was because we thought we had a busted pipe in our foundation. After an hours of testing the plumber found out we had a cracked toilet were the wax ring made the seal. It was slowing leaking water under the tile in our bathroom. He replaced the toilet and was on his way. After that call we are at least even with the cost of the warranty. So if anything else happens for the next year we are covered.

Replacing a toilet, or even just the wax ring is something you would have done youself, wax rings cost about 5$ at home depot.

the wires on the AC unit, you could have most likely replaced yourself with a little common sense.

Owning a home is about learning how to do things and getting it done, not paying out the ass everytime something little happens.

Quote from drsketch : Owning a home is about learning how to do things and getting it done, not paying out the ass everytime something little happens.

That's rather narrow minded ... it's not how everyone operates. Ever think that some don't have the desire to learn, physically cannot do the work, or they have better things to do with their time? I'm an avid DIYer--almost nothing I won't do, but sometimes I like "paying out the ass" to not be hassled with fixing it myself.

Amazing, of the couple of people that claim to have had positive experiences with their home warranty company, not one has given us the name of the company used.

I still stand by my "most are scams" belief.

Would I still consider buying one myself? Perhaps, IF I was buying a used house, and it was included in the price for say the first 3 years or so. Especially if most appliances were close to "end of life". There probably are a few legit ones, but as consumers we get ripped off so regularly by what seems like everybody, it sure makes you gun-shy.

I need to get replacement windows for my present 20 year old house, and I'm just amazed it's so hard to find ANYBODY around here that has good reviews that outweigh bad reviews. I'm just not up to rehabbing at the moment, because I just had hernia surgery. Every window in this house has a breached seal, and fogs up. Serves me right for being stupid enough to buy a manufactured house for the one I'm actually living in. Everything is sub-standard, even though it's a middle to high-end manufactured house.

I will NEVER buy another manufactured house! Not to say you can't get screwed even with stick-built, but typically those are higher quality.

Quote from drsketch : Replacing a toilet, or even just the wax ring is something you would have done youself, wax rings cost about 5$ at home depot. the wires on the AC unit, you could have most likely replaced yourself with a little common sense. Owning a home is about learning how to do things and getting it done, not paying out the ass everytime something little happens.

First off I have no problem to say who I am using. our warranty is through Home Warranty of America. So far so good and I feel comfortable that I made the purchase.

As for you comment about learning, before we bought this house we bought a foreclosure and I redid the house myself. From plumbing to sheet rock. To changing a hot water heater to pretty much everything else. So I know how to replace things and do the work myself, does that mean I want to do it again after 3 years on that house... No. This is why I went with the warranty and so far I have broken even... so if anything else goes out it will pay for itself.

I have no problem believing that a lot of people have problems with their warranties, I have had my fair share of problems with other companies as well.

I recently purchased a house and received an allowance from the seller for a home warranty. I researched the topic, decided home insurance policies were basically scams, but I settled on American Home Shield because I had to choose something. I fully expect any claim to be a royal pain and I do not plan on renewing after my 1 year policy expires.

When i bought my 12 year old townhouse, we bought a home warranty through AON Home Warranty Services, Inc. It cost $389 for the year (this was in 2000). Within 2 months the fridge died, paid the the $50 deductible for a service call, and he determined the compressor was dead. AON gave us $600 to go out an buy whatever fridge we wanted. The same year, the garage door opener died, another $250 from AON. So for me it worked out. I would say it depends on the age of the house and the appliances.

At 17 years the ac/furnace could be close to end of life, but a lot of that could depend on how well it has been maintained over the years, and where you live (usage). If both the ac and furnace die, you could be looking at about ~$10k replacement costs, provided you don't do any of the work yourself.

I might get someone out to service the ac/furnace and have them give you an estimate on how much life it has left, then base it on that.