[Stu from NYC]

Originally Posted by retiredguy123

In my opinion, home warranties are a waste of money. There is a huge profit margin for the warranty company. Also, you give up control of who does the repairs, how fast they are done, and the decision about whether or not something needs to be repaired or replaced. Often, it makes more sense to replace something instead of repairing it, but, with a warranty, you don't have that choice. And, you will never get a first rate contractor because good, reliable contractors do not need to share their income with a warranty company. Suppose your HVAC system fails on a weekend in July, and the warranty company will not send someone to your house for several days? If you are paying out of pocket, you can usually get it fixed the same day. And, do you really want someone to repair an 18 year old HVAC system when it makes more sense to replace it? These are some of the reasons that I think it is better to pay for your repairs out of pocket. You will get better and faster service and will save money in the long run.

Agreed

Home warranty plan are a form of insurance and an expensive one at that.

To me insure home or car or life.