If you come across a few major appliances problems than it may be worth to take out a plan. But lets say I have a plan for 22 dollars a month for a 3 year plan, and i only have that one problem in the 3 year period, I would be giving them 22 per month for 36 months for a total of $792...wouldn't it better if i just went out and bought a replacement for less than that and get a warranty besides? It seems it only benefits those who have numerous problems during that 3 year plan.
Home warranty companies pro and con.
Jul 25, 2022
3 Replies
I heard long ago a person shouldn't buy insurance for something he can write a good check for.
I feel the same way.
Warranty companies are in business to make money, not to help you.
Based on your $22 I'd have paid $15,000 in premiums over the years. Appliances do wear out but I'm still far ahead just replacing what is needed. Sure, a couple of refrigerators, dishwashers, a garbage disposal. I'm way ahead.
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