My HVAC condensor compressor went bad on me and I called my home warranty. They will be sending a contractor soon. My company is old republic, so I am hoping they replace it. The unit is very old; but was working and I have an inspection from a month ago to prove it. I haven't old this rental long, less than 3 months.
Any one actually have success with them replacing a HVAC? And or large win?
Old Republic are crooks. Read your policy and exclusions carefully.
Most home warranties explain that if a repair is considered too expensive, the provider might offer to replace the broken item instead. But in a situation like this, the home warranty company may give you only the depreciated value, requiring you to pay the difference out of pocket to get the same model you had before.
I can guarantee, they will NOT replace your broken unit with a new one!
We just got rid of our home warranty company and replaced our own HVAC unit on one of our rentals. The companies the HWC in our area have horrible BBB ratings. Just not worth the trouble.
I have multi's rental, and good experience with home warranty companies. First, don't expect too much from them or you will be disappointed, like expect a new HVAC. Most of time they repair what is needed to keep running. Once, I heard from tech that any HVAC can keep going as long as there are parts.
My 4plex home warrant costs about $800-900 per year, and a $75 deductible. If you call any HVAC, the average bill will be $300-400. The norm is standard service call is $75 just to come out. Then the diagnosis, which is another $100. So basically, $175, just to find out what is wrong. However, if you proceed to fix, then it is the cost of labor and part, thus about $300-400. For example, a freon leak will cost about $600. Replace condensor about $800.
For me, its worth it because the rentals are in Las Vegas where summer days can reach 115.
@Terry Lao They actually replaced an entire condensor for you with a new one? Did it only cost the deductible or whas it $800. Or are you saying what it would cost without the home warranty. But, if they replaced the condensor that's not a bad deal! Should I be concern I only owned the property not that long.
My warranty cost $2000 for the quadplex, 2000! The seller purchased it.
The price examples are without a home warranty. You should read your warranty and it should have all details. Condensor should be included and you will just pay the $75 deductible. Once tech comes out, they will diagnois.
Also, even though seller paid for first year, the price should not be that much, as your realtor can get the introductory price. My first year price was about $700. Not sure why it cost $2k in your area. Unless 4plexs costs 800k to 1M. In Las Vegas, 4plex now goes for about 350-400k.
Years ago we had a larger duplex with commercial type AC's on the roof. First unit finally gave up and could no longer be repaired because parts were no longer available.
We paid $200 deductible and warranty company paid $12,500 to replace. Second unit died a year later, same outcome we paid $200 deductible and warranty company paid $12,000 to replace unit. Unfortunately that warranty company sold out to a larger national company. But I would call it a success story in our case anyway.
I have had other success with water heaters but the real test will be when the next AC dies.