U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida > Jacksonville
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 09-28-2007, 07:45 AM
 
39 posts, read 305,810 times
Reputation: 36

Advertisements

With all the limits and exceptions in the 2-10 extended warranty does it pay to purchase it? It's not alot of money...less than $300 for the first year with a $50 fee per call. It includes coverage on new appliances (like your microwave which never breaks) that come with a new house plus limited coverage on AC, Elec and plumbing. Has anyone had an experience with this warranty? Please share.
Reply With Quote Quick reply to this message

 
Old 09-28-2007, 08:36 AM
 
Location: JAX
227 posts, read 893,903 times
Reputation: 87
No it doesn't and I will tell you why. The vast majority of appliances, A/C's, water heaters, etc. experience two types of failures. The first type is their natural end of life failure after many years. The second is called product infant mortality where they fail in the first year or less due to a factory defect. If you place all home equipment failure rates over time on a graph you get an inverted bell curve where there is a large number of failures in the first year, less and less failures until the middle of its useful life, and then more and more failures until you hit a large number of failures at the end of the useful life. The end of useful life is after the extended warranty time period. So, the seller of the warranty knows that you are buying a policy during a time when the items will probably not fail.
Reply With Quote Quick reply to this message
 
Old 09-28-2007, 03:01 PM
 
39 posts, read 305,810 times
Reputation: 36
Quote:
Originally Posted by David in JAX View Post
No it doesn't and I will tell you why. The vast majority of appliances, A/C's, water heaters, etc. experience two types of failures. The first type is their natural end of life failure after many years. The second is called product infant mortality where they fail in the first year or less due to a factory defect. If you place all home equipment failure rates over time on a graph you get an inverted bell curve where there is a large number of failures in the first year, less and less failures until the middle of its useful life, and then more and more failures until you hit a large number of failures at the end of the useful life. The end of useful life is after the extended warranty time period. So, the seller of the warranty knows that you are buying a policy during a time when the items will probably not fail.
You pretty much confirmed what I thought all along. I can't tell you how many letters and phone calls I get from these people. They always come on with a pitch about the average cost, if you don't have the warranty, to repair this appliance or replace that appliance ... the familiar fear tactic that insurers use.
Reply With Quote Quick reply to this message
 
Old 09-28-2007, 09:00 PM
 
Location: Beautiful place in Virginia
2,658 posts, read 10,603,010 times
Reputation: 1286
Quote:
Originally Posted by Stonewall17 View Post
With all the limits and exceptions in the 2-10 extended warranty does it pay to purchase it? It's not alot of money...less than $300 for the first year with a $50 fee per call. It includes coverage on new appliances (like your microwave which never breaks) that come with a new house plus limited coverage on AC, Elec and plumbing. Has anyone had an experience with this warranty? Please share.
I had it on my older house in MD ($450/year, $200 deductible). A lot of things broke down and it was helpful. I was given a credit towards the purchase of a new HVAC, plumbing repairs and the stopped up sink.

For a new home, I don't see a big benefit so you have to weigh the costs of the annual fees + deductible versus the cost of labor and parts for something to break down.
Reply With Quote Quick reply to this message
 
Old 09-28-2007, 10:39 PM
 
377 posts, read 1,564,284 times
Reputation: 201
We have it and used it several times... garage door opener, refrigerator, washing machine, dryer and these were all on a home built in 2002. Actually, they're coming again tomorrow for the a/c, so for me it was worth the money.
Reply With Quote Quick reply to this message
 
Old 09-29-2007, 10:05 PM
 
Location: Jax
8,204 posts, read 32,574,318 times
Reputation: 3406
I hate the warranties. I've used them when they came with the house, but once they expired I never renewed them.

The whole idea of putting a middleman between myself and the actual company doing the repair (the plumber, the electrician, etc.) just complicates things, IMO.
Reply With Quote Quick reply to this message
 
Old 09-30-2007, 10:56 AM
 
39 posts, read 305,810 times
Reputation: 36
Quote:
Originally Posted by stevep View Post
Actually, they're coming again tomorrow for the a/c, so for me it was worth the money.
So they are coming tomorrow ... what a coincidence!
I guess you could say it's a roll of the dice. I had a warranty on my older house in NY and used them only once in all those years. So voila!
Reply With Quote Quick reply to this message
 
Old 09-30-2007, 07:52 PM
 
377 posts, read 1,564,284 times
Reputation: 201
It was a quick fix - they would have charged me $130 if I didn't have the warranty. With the warranty it cost $50 (but I also pay $330 per year). So I guess it depends how lucky you are. Our neighbor had their a/c compressor go out a couple of months ago and it was covered. I think that would have run over $1k to replace and we actually had the same problem 13 months after purchasing our home but the a/c company decided to cover it even though it was a month past the original builders warranty.
Reply With Quote Quick reply to this message
 
Old 01-22-2009, 06:01 PM
 
1 posts, read 21,232 times
Reputation: 15
Default 2-10 or not 2-10

I would not recommend doing business with this company. But if you do, or you got the warranty via a sale… find out exactly what is covered and what your limits are for each covered section of the warranty (preferably before you send them money). To be frank, it’s simply not as good as they make it seem. Also, you will be amazed what is not covered and how fast you can reach the dollar limits for each section of coverage. It seems that the non-covered items are the ones that usually come to fault faster or are the big expensive items. It may look good on paper, but ask some contractors about pricing and the limits of coverage.

As for customer service, great, until something goes wrong or there is a complication. They can become rude, argumentative and condescending.
I actually had a customer service rep tell me that I could not speak with his supervisor. That the supervisor would tell me exactly what they did. I had to call back (again), go through the phone tree (again), and wait on hold (again) to talk to a new person and ask for a supervisor.
I also had a rep argue with me!


The communication between the “various” people that may handle your reported problem is not very good. I’ve had one person tell me one thing, and another something totally different.
Buyer beware!

Check them out at http://www.homewarrantyreviews.com/reviews the majority of reviews are fairly negative.
Reply With Quote Quick reply to this message
 
Old 10-07-2009, 04:01 PM
 
21 posts, read 41,417 times
Reputation: 13
Horrible customer service. Made me wait 4 months to get my dishwasher repaired… sent the same bad repairman twice. After he couldn’t fix it, they said, and I am literally quoting, that “You must have broken it on purpose. We won’t cover it”. We then spent the day convincing them to send out someone for a second opinion, which they only promised to do after making us promise we would pay a VERY high fee if the second guy said we abused the dishwasher. When the second guy fixed the dishwasher and said we were not at fault, they said “We can’t prove that” and would not apologize. I’m in my 30s and have been around the block with customer service people, and this is the worst I’ve ever seen. DO NOT USE.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida > Jacksonville
Similar Threads
View detailed profiles of:
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top