Has anyone ever renewed their homeowner's warranty after the 1st year?
Posted by
CovingtonCat
Sep 20 '14, 12:50
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I only had to use it once this past year. The total claim was $180 of which I paid $100 deductible.
To renew it will be $549. The warranty covers all major appliances, the hvac system and the electrical system (not sure what exactly is covered there). If something is not repairable they will replace it with a similar model (new, of course) but I have no choice of model.
I'm leaning toward not renewing and taking my chances. I already have an emergency house fund and I can easily add $47.75/month to the fund rather than give it to the warranty people.
On the other hand, renewing could give me peace of mind. I just have to file a claim and they'll arrange to have someone come to the house to repair or replace. But $549 seems steep for peace of mind, especially if I have another year like this one almost passed.
OK, I just talked myself into not renewing. Unless any of you have good reasons otherwise.
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