I want to buy a warranty policy to cover the appliances etc at my rent
house. I've heard of American Home Shield, but I've also heard they are
a bit horsey about paying claims. What other companies should I consider?
Looking for recommendations and personal experience.
None. Put some money in the bank and you will come out thousands of dollars
ahead over the years.
Home warranty companies do just that. They take your premiums,and spend
less than they take in to make a profit. They use the cheapest materials
and labor to fix your problem as cheaply as possible. I've owned homes for
the past 40 years. If I had a home warranty all those years and paid
premiums, I'd be out thousands of dollars compared to what I've had to spend
out of pocket. Better the money should be in my pocket than theirs.
Do a Google search on this newsgroup and you will find may negatives and
people that have had problems with home warranty companies. Just not worth
Ripoff, Sears offered stuff like this, for way too much money.
each year replace something, with the $ you would of spent on
it keeps your home looking fresh, and prevents a bad day when a lot
Paying for extended warranties on most things is a poor choice. You
are much better to self insure, as Edwin suggested. There have been
plenty of posts here over the years of folks having all sorts of
problems trying to get repairs made or collect on warranties after
paying premiums for years.
My recommendation is to do it yourself. Put the money in the bank and
use it if you need it.
The only thing worse are the extended automotive policies and the ones
they sell when you are buying an appliance.
Over 50% of what you pay immediately goes to pay the store and salesman.
(maybe closer to 40% for the whole home policies) So on average you are
going to get 50% or less back. Also the policies are written to same the
insurance company (they are not really warranties) money by not paying for
common or expensive items and or limiting repairs to the minimum and often
Do yourself a favor and skip this idea.
I agree with all of the posters, wholeheartedly, having had to sell those
warranties for years. Plus, I think you'll find that they usually are not
available for rental units...too much chance the company might have to pay a
claim. I know Sears "Maintenance Agreements" or whatever they now call
them, only covered appliances in single family residences. A landlord
wasn't allowed to purchase them, although the salesmen sometimes sold them
to meet their quotas, knowing full well that when and if the landlord
scheduled a service call the service tech would not honor the agreement and
would refund the purchase price of same. Of course, by then the salesman
had met his quota, got paid, and made his supervisor happy. Being honest,
seldom made the supervisor happy..go figure.
i sold a rental home recently. Many folks have a BAD attitude about
being a landlord:(
The common idea is spend nothing, give the tenant zip and basically be
greedy wring every last dime out of the property.
This ignores some VERY important issues. A good tenant is a happy
wheen they get unhappy they tend to leave, and then you MUST fix up the
place anyway, its really cheaper to invest some back in the property,
after all its YOURS you own it. Less churn people moving in and out
saves you bucks and tons of hassles. the NEXT tenant might be a really
bad pay, run drugs, any number of terrible troubles...
Now if you spend a little on a ongoing basis, then a vacancy wouldnt be
a complete disaster, sure paint and clean but hopefully not replace
EVERYTHING in the home.
It bugs me when I hear people save give them nothing, because thats how
they had been treated in the past. as a landlord we are responsible for
the property and should within reason care for it....
anyhow get a plan each year replace something major, mark each one with
put in service date. My approach may mean you dont get the last day
from your hot water tank but replacing them say every 10 years means I
get to pick the time and date of the job. better than replacing one
christmas eve when they have a housefull of guersts and I have a family
party out of town........
much better investment than wasting money on insurance, plus the
building is kept up to date
Wasn't thrilled with said company when we had them. They have so many
exclusions on the contract (no hose bibs, no mold, no plumbing/burst
pipes, etc.) and when we called them on something that should have been
covered, we got flack because the unit hadn't been maintained. It
should be noted that our complaint was electrical in nature concerning
the power to the A/C - yet they wouldn't cover it because our evaporator
coils hadn't been sufficiently cleaned (note - we had only been there a
few months). And at that point they refused to cover anything A/C
related until we paid $400+ to have the evaporator coils cleaned.
My parents also utilize said company, they seem to like them but have
run into problems where an unrelated problem prevents them from
attending to the real problem. For example, the water heater failed but
they refused to replace it because something connecting to it was out of
code (i.e. pay $$$ to get the wiring or plumbing up to code before we
We found that the benefits didn't warrant the cost. Personally I'd like
to see the home warranty companies forced to cover these systems
regardless of how well they were maintained - place the burden of
inspecting systems on those companies so the warranties are actually
worth something. :)
consumer rip-offs such as this only illustrate how hosed up
our government (specifically DOJ) was when they prosecuted a
huge case against Microsoft.
In the name of "protecting" consumers.
Well, I feel so happy I was protected from buying an operating
system that gives me a choice of removing the browser ! hooray.
Meanwhile, AHS is happily ripping off people left & right &
doing more damage to consumers than the imaginary damage DOJ
claimed Microsoft perpetrated on all of us.
These companies are rip-off artists. What good are insurance
companies who won't settle quickly then give you the cheapest
replacement? Best to create your own insurance by keeping $1000 in
an interest bearing money market account.
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