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We think we decided to use our $$$ credit from the sellers after inspection to purchase the Home Warranty Package that Weichert offers.
Is it too good to be true though? $400 for the package per year, then a $100 service fee if a call is needed will fix or replace any appliance in the home, including furnance / central air? How could this be?
Anyone have any experience with any of these warranty packages? Any hidden catches?
From my experiences -
Pros - got a new furnace (4,500) covered
Cons - sometimes the people they use to repair your problem i.e. plumbing or electric are far away like a hour away and are difficult to reach or be available but sometimes they let you find your own plumber and reimburse you.
there are limits and restrictions just read the fine print. GL
The one thing in the fine print that bothers me is "pre-existing conditions not covered".
Clearly everything is not new, and I know we are not allowed to use the warranty package for the 1st 30 days we are in the house, but I am having trouble getting anyone to really clarify what a "pre-existing condition" is....
We think we decided to use our $$$ credit from the sellers after inspection to purchase the Home Warranty Package that Weichert offers.
Is it too good to be true though? $400 for the package per year, then a $100 service fee if a call is needed will fix or replace any appliance in the home, including furnance / central air? How could this be?
Anyone have any experience with any of these warranty packages? Any hidden catches?
First, I am a Weichert agent, if that matters to you. I do not get paid or receicve any benefit for selling or promoting the home warranty. The warranty is good for piece of mind on these major issues. Make sure you take a good look so you understand what is covered and what is not. You may choose to pay a little more to be covere some non standard items. Call them up, they get in touch with a local company to do the repair. (That can be very helpful if you don't have any experience with a particular type of issue,and no friends to refer a good one.) You pay either the repair fee or the deductable, whichever is lower. If the work isn't done right, and the problem persists, just call the warranty company again and they send the guys back to complete it at no more cost to you.
I bought the warranty when I bought my current house, five years ago, and have renewed it every year. Of course, the renewals are where the company makes their money, as the rate has gone up every year.
We think we decided to use our $$$ credit from the sellers after inspection to purchase the Home Warranty Package that Weichert offers.
Is it too good to be true though? $400 for the package per year, then a $100 service fee if a call is needed will fix or replace any appliance in the home, including furnance / central air? How could this be?
Anyone have any experience with any of these warranty packages? Any hidden catches?
Probably a good idea. One thing to check is the reimbursement maximums on each item. For instance we had a home warranty with American Home Shield and our furnace broke. Couldn't be fixed and we had to get a new one. The maximum amount they would pay out for a new one was $2,500 but our new furnace was $6,500. So the money helped but obviously didn't cover it all.
Look into pse&g worry free program as another option. Paying 100 a call especially for minor issues that cost less than 100 is tough to swallow. Find out which company weichert promotes for the home warranty and read reviews for the company, AHS has some terrible reviews. FYI you can purchase a homewarranty on your own with a company you feel will give you the best service so shop around. Plus If you dont buy it now you can always added it later on.
warranties are generally a scam. they are high profit items that you will rarely need, and when you do need them they will rarely benefit you. thats why they always push the warranties on you in the stores and you get these weird warranty offers for your car in the mail.
You can always add it later but........ the warrantee company will feel safe to give you the best rate if the inspetion already shows there is nothing wrong, so they are sharing the - what if - risk with you. After the settlement the warrantee co. assumes that you have found something wrong that is why you are looking for the warrantee.
Whatever inspection shows to be of doubtful condition the warrantee co. is going to define as pre-existing condition. That means if your inspection report is clean - spiffy - then there wil be no pre-existing conditions but inspectors sometimes go overboard (notorious for that) and report(speculate) what could be about to go wrong then that could be interpreted as pre-existing condition.
In short, like Captain wrote, if everything is ok they will warrantee everything but something is reported in the inspection report as in dobtful condition then that they would not cover.
Our realtor paid for our home warranty in our recently puchased home from Remax. It was America Shield. I was told by realtor that anything found in inspection or 'pre-existing' will not be covered. Well, I used it already 3 separate times (garbage disposal, ice maker, circuit breakers) and all were covered and pre-exisiting. No issues. I have to pay $60 per visit - so I paid out so far $180. Well worth it. One of the contractors said most big realtors (remax example) - offer free warranties for 1 yr to their clients as a gift for going with them.
I never buy warranties. Never. But this again was paid for by realtor ($544). I will not renew it ofcourse, but I think its def. worth it for 1st year of house.
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