Recommended Home Warranty Companies??

Question

I'm getting ready to close on my first rental property finally after several months of making offers (this seller's market is friggin' crazy) and the seller (as part of the sale) is providing a home warranty (up to $500). While I know many landlords prefer to not spend the $$ on one and just budget for future repairs that their own contractors/handyman will take care, since it is being provided I need to pick a company to use - at least for the first year. With that in mind, for those of you that have used/currently use a home warranty company, what companies have you had good service from? Which ones have you had less than stellar experiences with??

Thanks a ton!!!

Daren H. · Answer

@Ron Shockley

I have used Old Republic and AHS in the past. My experience with both has been good overall in regards to contractor quality and response time but if forced to I would go with AHS. Personally, I use neither today. You are better off saving your money for actual repair costs. You pay ~$500 a year for the warranty plan and ~$75 service fee each use. Check the fine print and you will see that the max pay out per claim is probably ~$1000 (keep in mind you are paying them $500 already and $75 service fee).  I had a $2700 plumbing issue. Old Republic only paid a $1000 max limit (luckily my insurance covered the event).

Also, the warranty does not help for minor handyman repairs $75 or less  because of the warranty service fee.

Emily Du Plessis · Answer

We have used Old Republic Home Warranty and have had success with them.  We've been able to have some costly items replaced for very little out of our pocket.

Paul S. · Answer

@Ron Shockley  I personally use American Home Shield. I do not know if they are any better than the other companies but I have had decent luck with them. I think it has a bit to do with who the service provider is in the local area and if they are competent. I have not had a second service call for anything that has been fixed but I know other people have not been so lucky. I think I pay about $450 a year and have a $75 service call fee. This is on a 2800sf SFR in Florida.

Hope that helps, let me know if you have more questions.

Paul

Mike McGuire · Answer

Why is AHS no longer beneficial? I'm in the same boat and I'm asking the selller to  provide a home warranty. Thanks-

Mike M.

Rolanda Eldridge · Answer

@Ron Shockley ...Initially I used American Home Shield, but it's no longer beneficial.