Quote:
Originally Posted by Battlebasset
If you are getting the same letter I am, they cap the pay out at $1000. So for $10 per month, you could save that, and pay for it in about 8 years. Not worth it IMO.
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You are right. Thanks. The letter had no mention of an annual limit. I had to call their number and ask them directly. Pretty disreputable if you ask me. Why a public utility (TECO) would let them get away with this is surprising.
Quote:
Originally Posted by Altavia
Wonder if they pay out if lighting hits your gas line and your house burns down...
There been about one of those a year here.
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The "sample contact" specifically states that it's only covers items that breakdown due to "routine wear and tear."
"
This Agreement covers only repairs and/or replacements due to mechanical failure attributable to ordinary wear and tear. Accordingly, the Agreement does not cover failures which may result from other causes, such as without limitation: abuse, misuse and/or neglect; lightning strikes; missing parts; animal, pet and/or pest damage; power failure; power surge; fire; casualty; acts of God; structural and/or property damage; flood; smoke; earthquake; freeze damage; accidents; war; acts of terrorism; nuclear explosion, reaction, radiation or radioactive contamination; insurrection; riots; vandalism; or intentional destruction of property. This Agreement does not cover mechanical failures resulting directly or indirectly from or caused by mold, mildew, mycotoxins, fungus, bacteria, virus, condensation, and/or wet or dry rot regardless of the source, origin, or location and any other cause or event contributing concurrently or in any sequence to the mechanical failure. "
The "acts of God" limitation, covers a lot of things.
https://www.buycinch.com/Global/File...516_SAMPLE.pdf
Quote:
Originally Posted by retiredguy123
It would be a waste of money.
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You're right. I will pass. I think it was Confucius who said that one shouldn't buy insurance for stuff that one can pay for on one's own.
Thanks to all who replied.