Extended Warranties/Service Contracts

[iheartmaytag]

I always hear people say don't get a Service contract, I even tell people that myself--waste of money.

 

When I bought my dishwasher in 2013, the lady at Sear's talked me into a S/C driving home all the electronics, moistusre, etc.  so I popped for the S/C.

 

With the service contract Sear's will come out one a year for a Maintenance check, just to check operation.  I figured since I paid for it I would get my moneys worth so I scheduled an appointment.  

First thing he asked was how it was running, I advised that I had no complaints except it uses a lot of rinse aid, it was going through a months worth a week.  "Needs a new dispenser" he said and orders one for me.  Then in checking he noticed that one of the LEDs wasn't lighting.  I told him that that light never comes on and this other one never goes off, but it runs fine.  "Needs a new control panel" he said.,

 

They came yesterday to install the parts he ordered.  Total service ticket was $409.60.   Ok, I am sold on service contracts.  Though the machine was working fine, he told me if I have any other problems to call them, and this contract even covers the racks where others do not.  

 

Very impressed.  If I hadn't bought the  contract the machine would still work ok, but this was a bonus.  

 

[mayguy]

I'm for it..

I've gotten it for my washer, dryer, stove, and ref.. I only had to use it once on my washer, and it paid itself off.. At the time, I paid $99 for 5 years from Home Depot.

 

[chachp]

Always a controversial topic

<span style="font-family: verdana,geneva;">For me, I have kept a home warranty for at least the last 10 years or so.  I have used it many times and for me it has paid for itself over and over again.  It costs me roughly $50 a month and I have a co-pay of $75 for each claim I make.  On each claim I can ask them to repair two things.</span>

 

<span style="font-family: verdana,geneva;">Some examples, I had a furnace replaced, new hot water heater, new toilet, new garbage disposal and a new washing machine.  I have had electrical issues resolved and I can't tell you how many times I have called to have plumbing repairs made usually resulting in a new fixture.  In October my hot water heater sprung a leak and I called to have it looked at.  He determined it had a leak and needed to be replaced.  They installed a brand new Hot Water heater and I asked the installer what this would have cost me without the insurance.  He said the model they installed retailed at around $475 and then add the installation and disposal fees and I would have been somewhere around $700.  It cost me $75.  I don't know much about water heaters but this one is a RHEEM and he said it's a great hot water heater that should give years of good service.  He said this is considered a professional model and not something you'd find at the local big box store.  I don't know if that statement was true or not but what the heck I didn't pay all that much.  What do I care as long as I have hot water.  I asked what it would cost to have it upgraded to a tankless and he didn't recommend it for my home.</span>

 

<span style="font-family: verdana,geneva;">When I buy a new appliance I get the factory warranty but not the extended as it is covered under the home warranty.  My Warranty covers all permanently installed appliances, plumbing, electrical, HVAC, garage doors and I think the openers.  There are options to insure things like pool and spa pumps, etc. but those are an extra charge.</span>

 

<span style="font-family: verdana,geneva;">I know this is something that many people think is a huge waste of money.  For me, that has not been the case because I use mine.  If you never make a claim then yes, they are a waste.  My house was built in 1969.  In my opinion owning a house this old and carrying the warranty just makes sense.  If your house is brand new then maybe not so much but things are still going to break.  And for me, when it comes to electrical and plumbing especially I don't want to take the chance of doing it myself and doing it wrong.  This way I know I have a licensed contractor working in my home.</span>