Home warranties are usually very bad deals that aren’t worth the money you’ll pay for them. These warranties claim to protect you from the cost of appliances breaking down, in reality they provide very little coverage and are not accepted by many of the best contractors. New home builders typically offer much better warranties — usually for free — than the ones advertised on the open market, which are full of fine-print rules that in practice make it very hard to get help when you need it.
- Home warranty companies give people the false believe that when something goes wrong, they are there to help them but this is usually a bad deal.
- Many consumers have lodged lots of complains to consumer agencies because home warranty companies don’t cover them when something goes wrong in their home.
- You not only pay a lot of premium when dealing with home warranty companies, a lot of professional repair services hold them in disdain.
“In fact, most repairs covered by these policies—for appliances, HVAC systems, or plumbing—are inexpensive.”