Which is the Best Home Warranty? (tenants, clause, agreement, properties)

[azsportpilot]

we have a 25 year old home we are planning to rent out, it is several states away and we feel a warranty will give us peace of mind as the 25 year old air conditioner would cost more than the entire years net gains from the rent


I am hoping to hear from realtors and homeowners that have a warranty and have made a claim


I have heard some horror stories of warranty companies trying to avoid covering repairs to covered components using some technicality or loophole


there must be good companies and bad companies...... which is which?


any advice from persons with first hand knowledge or experience with a warranty claim would be greatly appreciated


thanks

[jaynarie]

They are generally a waste of money.

My first hand experience was with Old Republic. I made three claims and two were denied. The one they approved cost about the same as my $75 deductible, so it did nothing for me. FWIW- one of my claims had to do with the AC. It was determined that the condenser was the issue, and they would not repair it since it was not inside the home.

[davebarnes]

Put money into a "repairs" account.

[BoBromhal]

We like First American. Whichever warranty you choose, you'll want the very best coverage they offer. Replacing a 25 year old HVAC, the building codes have changed and so there's another large cost bringing it to current code. Usually, an upgraded warranty covers the permit costs, the base one will not.

[luckeeesmom]

I just bought a home and chose America's Preferred Home Warranty because you get to use your own contractor permitted they are licensed and bonded. Most of the other companies make you use their people. I filed a claim but have not had my contractor out to fix the issue yet. The person on the phone was helpful and did not seem to try to get out of any responsibility but, because we had recently moved, they did require a copy of home inspection to make sure the issue I was calling about was not pre-existing. I can report back after my claim is paid.

[rational1]

> there must be good companies and bad companies......

Don't see why you say that. Another possibility is bad and worse.

[jencam]

I like American Home Shield, but you may want to consider that replacing that extremely old a/c will be worth it in the return on lower utility bills. ALOT lower.

[davebarnes]

Originally Posted by rational1

Another possibility is bad and worse.

You are delusional.
Worser and worst.
If these companies honored every agreement to the fullest, they would be broke in 3 months.
They only stay in business by screwing customers.

[sacredgrooves]

Warranty companies are in business to collect money, not pay it out. I agree with Dave, put the $500 a year into a repairs account.

[TexasTony]

Warranty companies are scam for rental units. Half of the things you want are never covered. Surprisingly if they are covered they have stupid clause which will either void your claim or they will try to fix it couple of times before complete replacement. If it is a primary residence one can live with an issue up to certain extent until it has been resolved completely. If you have tenants you risk running out their patience while the home warranty company goes through their BS delay tactics. I work with 4 different warranty companies for multiple rental properties. I am not satisfied with either one of them. I have yet to come across one company where my costs are recuperated.