Home warranty companies

[Loic Assobmo]

Hey has anyone used home warranty for their rental properties? What are the companies that folks are using? What are the rates ?

[Bill B.]

Nope. They make buyers feel good when they are purchasing but pretty much an open secret they are almost worthless. 

There’s a deductible with every repair that can rival the actual repair cost. You have to use their repair guy. If it’s summer and your ac goes maybe their guys is busy and he’ll be out there in a couple days. And then maybe he needs a part that will be in stock in just a couple days. 

The only one that could POSSIBLY be worth it is the very cheap ones offered through the local power company on just hvac. I think my mom in MN pays $4/mo and they cover entire system. I think they will even cover an already broken system.

But no, the home warranty coverage is just like an extended car warranty not provided by the manufacturer.