on 10/11/2007 8:37 PM Ralph Mowery said the following:
"willshak" wrote in message
...

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.


The question was not about home owner insurance, but the home warranty.
Insurance is almost always needed. Even if you own your house, the chances
of loosing it may be small, but it is such a big ticket item , most can not
afford to loose their house.
Maybe a small cabin or camper at the coast or lake may be differant.

Right. I had a brain fart. Sorry.

If you read the home warranty policy , it usually pays a very small ammount
and not a policy that will repair or replace things and is usually only good
for a year or two. Not usually worth the money.
Some realitors use the warranty plans to help their profit.
That is why they seem to push them.

A good home inspection may be worth it , especially if you don't know how a
home can have major problems and their repair. You don't need an inspection
that tells you light bulbs are burnt out, but one that looks at major repair
problems like the foundation, plumbing, heating systems, and so on.




I don't know anyone who has one, but I seem to remember some negative
posts about them in this group or the construction group.

--

Bill
In Hamptonburgh, NY
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