on 10/11/2007 7:23 PM Steve said the following:
Bruce wrote on 11 Oct 2007 in group alt.home.repair:


Hi,
Does anyone know of a good home or house warranty protection plan?
I would like to purchase one but don't know which are good or bad.
Does anyone have a feel for how good these plans are?


Your best bet is a savings account and a good handyman.

Most of the home warranties I've had have been completely useless. They
exclude all the things you expect will be covered, and the things that ARE
covered have a large deductible. The insurance company gets to pick the
workers based soley on price, not competence.

Do you get the idea I think they're a bad idea?

These are the same as the extended warranties sold for everything else --
a waste of money for the most part. The insurance company has to charge
more for the policy than they pay out, or they don't make a profit. The
average person loses money. Sure, a few people come out ahead, but you'll
have to look for quite a while to find them.


Unless the house is bought for cash, or paid off, most mortgage
companies require home owner insurance. They don't want to foreclose on
a vacant lot with a pile of ashes.

--

Bill
In Hamptonburgh, NY
To email, remove the double zeroes after @