Home Warranties? Yes or No

[Alexander Timberlake]

Hello,

I would like people's opinions on whether home warranties are beneficial or not? I have had OneGuard for the past year and had a pretty poor experience. They either do not cover the item that needs to be fixed or I end up spending more money working through them.

Looking forward to your feedback!

If you are in the Houston, TX market, please add me to your network!

[Doug McVinua]

Mixed results with Home Warranty! One area that I really support one is in the event the buyer/owner/landlord would not be able to cover a major system failure.

In Arizona Water Heaters tend to have a life cycle of 7-10 years before the tank leaks due to the water and corrosion. Cost to replace $450-$1000 

HVAC: Arizona uses lots of Heat Pumps and they work great in the hot climate we have but average life cycle is 12-15 years. Cost to replace can run from $3500 - $10,000.

If the owner is not in a cash or credit position to fund replacement of either or both of these systems a Home Warranty can at least soften the blow dramatically.

Home Warranty companies don't really make money paying claims (outside of customer satisfaction) so it's not uncommon to see challenges on claims. They can be frustrating but for some they are a lifesaver.

Not a right or wrong answer, agree with @Alan Grobmeier, It Depends!