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Devolutionator t1_je4i6no wrote

I wouldn't feel so bad. If it's a typical home warranty, it probably wouldn't have covered anything anyway. Those things are notorious for being ripoffs.

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whiskeyjane45 t1_je5jbb3 wrote

I got a new refrigerator, washing machine, and hot water heater with mine. Though I did not own the home so it was a separate policy. They also came out and repaired the oven and trash compactor

We definitely got our money's worth

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geminiburner t1_je5qkpt wrote

We got a new HVAC system and our fridge was fixed. It hasn't even been a year so I'm almost hoping our downstairs HVAC goes out so we can get that replaced with our warranty too. I wasn't aware that home warranties have a bad reputation.

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whiskeyjane45 t1_je5slk7 wrote

Me either.

But apparently bad enough to get a snarky reply and a nonsensical reply after that lol

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richardelmore t1_je6ovxd wrote

Like all insurance/warrantees the company selling them pays out (on average) less in coverage than it collects in fees/premiums otherwise they would go out of business. So, they are good in situations where the most expensive thing they would ever cover would be more than you could pay yourself, otherwise you are better off being self-insured.

For healthcare or vehicle liability the chance of an extremely expensive event that could bankrupt you is a lot higher than for a car repair. For things like home or car warrantee you will generally be better off just putting the money you would have paid for the warrantee into a savings account and pay for repairs yourself as they arise.

Yes, there is the occasional situation where every appliance in your house dies in a short period of time and the warrantee works out but there are a lot more people who get little or no benefit from the warrantee. If there weren't then the companies could not make a profit selling them.

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Devolutionator t1_je5jje4 wrote

Congratulations on being the one guy in history who is come out ahead on a home warranty policy!

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ElCaptainNasty t1_je5yh52 wrote

Seller paid for my home warranty for the first year. Just got a free furnace out of it. We'll worth having especially in older homes.

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whiskeyjane45 t1_je5jx9r wrote

I told my family about and my friends. They've all used them too for new appliances. It's like $50 a month. Nowadays things aren't built to last so your stuff is going to break

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imakenosensetopeople t1_je4lc2o wrote

Yeah, that was my first thought. Wait until OP tries to use that warranty!

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Smokedeggs t1_je5acn4 wrote

I tried to use mine after we moved into a new place. Useless. Thank goodness the seller bought us the warranty and we didn’t spent money on it.

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darkfred t1_je61eru wrote

The seller bought you that so you wouldn't ask for them to do actual necessary repairs in the contract, or accuse them of hiding necessary repairs and ask for later fixes.

They exist to create a legal loophole that intentionally screws the buyer.

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Smokedeggs t1_je64wxp wrote

Didn’t know that. There were a lot of issues that needed to be fixed before we moved in, but I can understand now why she offered the warranty.

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Gojogab t1_je5o7wl wrote

Not true with mine. They bought me a brand new washer when mine couldn't be repaired.

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Devolutionator t1_je5ok7l wrote

60% of the time, it works every time.

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Gojogab t1_je5ot86 wrote

I had American Home Shield. But they sucked during the pandemic, had no one.

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Jingoisticbell t1_je5rt8g wrote

We had AHS, used it once, and low and behold it cost more for the following year by EXACTLY what they covered that one time. Lol nope.

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Gojogab t1_je5s4j7 wrote

Wow!! Yeah I don't carry home warranties anymore.

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