Home Warranty
 

Has anyone have or considered the after market home warranty plans to protect things like washer, dryers , dishwashers , and ect….. I’m always getting things in the mail from American Home Shield… pros? Cons?

Thank you

Just say NO... waste of money. Warranty companies are difficult to communicate with, offer sub-par repair work and primarily will offer sub-standard replacements - don't expect a 1:1 exchange for what you may own now. Walk away.... better yet, run!

IMO, Be self insured.
 

IMO, Insurance/warranties are only usefull for big items such as health, home, and auto. Insurance companies make money in the long one even playing out claims. Small items such as appliances are not worth insurance in the long run. Some times they say take it for peace of mind. I don't stay up late at night worrying how I'm going to pay for a new one if the dish washer breaks.

Home warranties are a ripoff. If something breaks, you are locked in to one company who will decide when they will come to fix it, and whether to repair it or to replace it. They will send a substandard repair company because top rated companies would never share their profits with a warranty company. There are plenty of good repair companies in The Villages who will come to your house within a day or so. Suppose your HVAC fails in July, and the warranty company says they will send someone to your house next week?

I agree with above comments, these do not appear to be worth the money.

Thanks to all that responded .

Save your money, get insurance for big ticket items like life and homes and cars.

No..........it's a money maker for THEM.

Insure what you can not afford.

Car deductibles should be at least $1,000.

House deductibles should be at least $5,000.

Do not buy insurance for $500'ish items.

I use Broward and am happy with them. PM me for more info.

When you sell a house the buyers expect you to provide one, and you do just to give them a sense of security.

Me, I’ve never called them when we bought a house, preferring to fix/replace things ourselves.

I have never had this type of insurance, but my brother-in-law did, and it took months to get things repaired due to the fact of the age of the appliance.
Most appliances have an expected life span.
What you should weight is how much you can save during that time against the cost of the insurance.
In most cases by the time your appliance dies from the savings you can purchase a brand-new model with all new and expanded features.

Never ever buy any of these plans for your appliances or cars. They are a ripoff. I did get 1 of the extended warranty plans when I bought a new Nissan decades ago only because Nissan would give you your money back if you didn’t use it or you sold the car. I sold the car after a few years, never used the warranty, got every cent back.
The car commercials for home shield and the others have customers claim this insurance saved them thousands of dollars, but what they don’t tell you it cost them thousands of dollars in this insurance. Same goes for the home appliance warranties.

Broward has been a pleasure to deal with.Have responded many times in the past 5 years. Including a new AC free of charge. Totally recommend for an older home.

"Some" buyers may expect a warranty, but not me. As a buyer, I would reject the warranty and request a credit from the price of the house. Having a home warranty is more trouble than it is worth.

Never. The appliances they are offering coverage on have a longer warranty than your home warranty.

Right, Structure insurance to cover what one cannot afford to pay such as fire, major collision, cancer, death of a working spouse when younger with a young family, etc. etc. Adjust deductibles to what you can afford to pay out of pocket and lower your insurance premiums.

Insurance/warranty on smaller stuff like electronics and appliances is generally not a good value for the person and very profitable for those that sell it.

By the way, OP, read the fine print of the home warranty literature for what they actually cover and will do for you. It’s likely not what you think.

The US home warranty industry has annual revenues of almost $4 billion with a profit margin of about 12% —> annual profits approaching one-half billion dollars per year.

Home Warranty Providers in the US - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)| IBISWorld.

We have bought and sold home with Home Warranties. We have found them to be very resourceful. Although it has been a number of years, we did get a new water heater and stove through our Home warranty. They can be pricey ($500. when we sold our home), but it is attractive to buyers. Would suggest weighing the cost of the home warranty verses cost of repairing or replacing the appliance.

And versus the expected timing when those things need repairing or replacing, and the time value of money.

And the warranty deductibles often stated in the fine print.

Many people forget about this kind of refund provision. I have something similar for another kind of product with a 4 year warranty. I need to remember to ask for the warranty money back after 4 years to get the benefit.

Right. It’s psychological comfort for a home buyer who just made one of the biggest financial purchases of their life.

For the home seller, it’s a trivial amount to pay to close the deal.

Home warranty plans
 

Check out Broward Factory Service they only use employees and provide great service

I've used Broward Factory Service for more than 9 years and very pleased with their service. Prompt, sometimes out within the hour. The cost of electronic boards in all appliances nowdays is out of sight and i'm covered. They usually have a clinic weekly where they go over cost/coverages.

They appear to be quite expensive

Home repair warranty
 

Not worth the paper they’re written on. The former owner of my CYV had her company repair her washer. They came told her it was all fixed and had her sign off. They had done nothing to repair the washer! That company was Broward

No. Appliance warranties are simply money makers for the insurance company. They offer substandard work, substandard substitution. With a long delay in the first place. If you buy your appliance from Costco, and they double your warranty period, that’s a go.

I currently have First American Home Warranty. Yes, it does cost me $53/ mo, but I think it is worth it for some peace of mind - my opinion. Have had them for approximately 3 1/2 years now and had the opportunity to utilize them three times so far, the latest being yesterday. You do have a co- pay of $85 and possibly additional funds but hasn’t been the case so far. Drawback - it is their choice of contractor. Two calls were for ceiling fans - two week wait. Was contacted by contractor within one day and have to work with their schedule. Easy fixes. One visit each, but I can no longer work off ladder, so great for me! Third instance - heat pump A/C. Two visits, one major component (evaporator replacement). Total fix took 2 1/2 weeks. Major part of that was waiting for part. Replacement took 2 - 2 1/2 hrs. Price $85. Drawback - happened middle of summer! Could I have gotten it completed quicker? Possibly. A/C working great 2 years now! We were hot. All things to consider when making your decision!

You absolutely could have gotten an HVAC system repaired quicker, probably within a day.

Not worth it. Home buyers won't care about it. They know it's frivolous. Spend the money on something that you will enjoy.

I know of only one person who had a claim under this type of insurance that paid off well. When hurricane Irma blew through here some wind blown debris damaged his air conditioner, and Broward home service promptly came and took care of it.

Realistically, if you have a home equity line of credit to draw upon should you need a repair or replacement that will not fit into your usual monthly income/expense cycle, that will be cheaper in the long run. The annual fee for the HELOC will be less than a month or two’s premium for the insurance, and you pay only simple interest until you retire what you draw. No problems, no payments.

In my opinion, real estate agents should stop promoting home warranties as a selling point for a house. They are being dishonest to the buyer and the seller.

Home Warranty
 

Please do not use American Home Shield, I have just had the worst experience with them, it took them 5 days and multiple phone calls to have them authorize the same Service company they sent before to fix the boiler heater of my home in WA . When they did and the boiler had to be replaced, they only paid $1,600 of a $8,100 bill

Broward Factory Service
 

I used AHS up north a few time on AC and refrigerator and there was always a co-pay plus you never know what service company they were going to send out.

I move here in 2018 and Broward Factory Service was recommended to me and my 12 year old home. I have gotten their gold plan (has replacement in addition to just fix it). They are always advertising free information lunches in the Daily Sun so I would recommend attending.

I had the water heater start leaking and they replaced with a better one - no charge. I have had them out a couple times for ice maker repair on my LG refrigerator - replaced twice with no charge. Coming out today to replace the compressor on the LG - no charge.

Additionally, I have them "tune" my AC once a year at an additional cost figuring that if they are servicing once a year - there won't be any issue when it breaks. I have had to call them to replace something in the outside unit twice - no charge.

I've been very happy with them. Nationwide - not just local. Browardfactory.com

Several houses ago, we got a home warrantee as part of the purchase. At first I liked it. A single place to call for repairs even if not covered 100%. Then each year, it got more expensive and covered less until I decided it was no longer worth it.

I recently had a power outage at my home in TV, most of my appliances were affected and garage door opener, fortunately I had Select Home Warranty, and with their 24hour call in service, techs were dispatched and all were back in service within a three day period.

We have Choice home warranty, it is not an end all but do cover part of the cost of repair or replacement. Is it worth the cost? $550 per year in a newer home probably not.

Have used Broward for years. I recommend them.

I have AHS and I mostly got it for the A/C. My plan pays up to $6,000 for the repair or replacement. It also covers roof leaks.

The problem is that, if the system is old and should be replaced, the warranty company may decide to continue to repair it rather than to replace it. It won't be your decision. Also, if it fails during the summer, you may need to wait up to a week or so for the warranty company to show up. But, there are several HVAC companies in The Villages who can repair it in less than a day.

HVAC warranty
 

We met with the HVAC rep for our new home in Dabney and he wanted us to get the $800 extended warranty for our HVAC system. His reasoning was that next year, government regulations will require a new refrigerant and therefore the old refrigerant that our unit uses will be in short supply due to it being phased out. If we had a leak, the cost of refrigerant would be so expensive that we would end up replacing our unit prematurely.