Wayne Boatwright wrote:
(snip)

SystemsProtect is not
affiliated with our mortgage company. They are simply offering its
availability as a courtesy.

There's absolutely no reason for your mortgage company to do this for
you "as a courtesy." They are getting paid one way or another.

(snip)
I'm asking for opinions and/or personal experience because we are in our
60s and probably not capable of making most of the repairs ourselves, nor
financially able to pay for or replace the big ticket items on a moments
notice. We could afford the monthly fee easily within our budget.

What say ye?

I took a quick look at their sample plan. With the monthly fee, $60
deductible, and numerous limitations and exclusions, it doesn't seem to
offer much benefit. If you have a claim every year you might break even.
For example, if your water heater breaks in a way that's not excluded
from coverage, you'll get a maximum of $500 toward the installation of a
"base model that meets all applicable federally mandated minimal
manufacturers’ standards." For this $500 coverage you've paid $360 in
monthly fees.

You can find the expected customer horror stories if you search for some
of the many names they do business under:
http://www.cchs.com/disclosure.html

If you can easily afford the monthly fee then you can easily start
setting aside that amount each month in case you _do_ have a big ticket
repair. If an appliance dies and you don't have enough saved you can
always get a monthly payment plan (read: store credit card) from any of
the big retailers.

On Wed 28 May 2008 12:40:51a, Mike Paulsen told us...

Wayne Boatwright wrote:
(snip)

SystemsProtect is not
affiliated with our mortgage company. They are simply offering its
availability as a courtesy.

There's absolutely no reason for your mortgage company to do this for
you "as a courtesy." They are getting paid one way or another.

(snip)
I'm asking for opinions and/or personal experience because we are in our
60s and probably not capable of making most of the repairs ourselves,
nor
financially able to pay for or replace the big ticket items on a moments
notice. We could afford the monthly fee easily within our budget.

What say ye?

I took a quick look at their sample plan. With the monthly fee, $60
deductible, and numerous limitations and exclusions, it doesn't seem to
offer much benefit. If you have a claim every year you might break even.
For example, if your water heater breaks in a way that's not excluded
from coverage, you'll get a maximum of $500 toward the installation of a
"base model that meets all applicable federally mandated minimal
manufacturers’ standards." For this $500 coverage you've paid $360 in
monthly fees.

You can find the expected customer horror stories if you search for some
of the many names they do business under:
http://www.cchs.com/disclosure.html

If you can easily afford the monthly fee then you can easily start
setting aside that amount each month in case you _do_ have a big ticket
repair. If an appliance dies and you don't have enough saved you can
always get a monthly payment plan (read: store credit card) from any of
the big retailers.

Thanks, Mike. Point well taken. I think we'll skip this altogether.l

--
Wayne Boatwright
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Wednesday, 05(V)/28(XXVIII)/08(MMVIII)
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This is more exciting than Woody Allen
on Valium.
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