Quote:
Originally Posted by DennisfromMinnesota
I purchased a Home Systems endorsement through my State Farm agent in Mississippi. Cost was about $30 yr. It’s underwritten and serviced through Hartford Steam Boiler Co I think.
In any event, I believe up to $50k coverage, $500 deductible.
A/C condensing unit. (Big box outside) went out. They paid out $4k, less my $500 deductible.
Oh, and after 10 years, limit drops dramatically to $2k I think. Still, I thought a pretty good value.
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I'm curious. Apparently, these State Farm endorsements are available to purchase in Florida, but for about $100 per year. They have a $500 per repair deductible, and they do not cover "normal wear and tear". A new HVAC system comes with a 5-year parts and labor warranty and your regular homeowner's insurance already covers damage caused by a natural disaster, such as a storm, fire, or power surge. Most minor repairs will usually cost less than $500. So, if your HVAC unit stops working after 5 years and needs to be replaced, how would you convince the insurance company that it was not caused by normal wear and tear? Also, if the 10-year parts warranty is still in effect, does the endorsement cover anything?