[Multimodal]

I'm buying a house in Baltimore City. It's new construction, but it wasn't built by a corporate builder (e.g., Pulte, Ryland, etc.) so the seller doesn't offer their own self-underwritten home warranty. As such, I'm requesting the seller include a third-party home warranty with the property. In Maryland, the law requires a warranty that provides at least 1 year comprehensive coverage; 2 years for major systems (e.g., plumbing, heating, air conditioning, etc.); and 5 years for load-bearing structural components.

Who is a reputable provider of these warranties?

How do I compare plans?

The way I have written the contract right now, I've said the seller must find a warranty plan and then get my approval before purchasing it. Should I be more specific - should I specify exactly which plan they have to buy?

[Feyd]

You'll get fucked.

I mean.. do it so that you might have a prayer of a chance of recouping some of your repair costs, but as a rule these places make it SO hard for you to get reimbursed.. it's how they make their money.

If for instance your AC condenser goes and you owe 4k for the repair... you might have to chase them around for a year, but you'll get your money back eventually. So in that regard it's good that it's there, but for the $300-$500 repair jobs it gets to a point that it becomes a second job to try and manage the payouts/claims, etc. and it just isn't worth it.

They're a good thing to have, I'm just trying to set expectations that it isn't as great as you think it is. At least you are being smart about it and doing research... I didn't because my Agent "recommended" a firm to me for mine... I figured $350... what the hay!


Well... I'll let the reviews to the talking.

http://www.homewarrantyreviews.com/r...-home-warranty

[Freakazoid]

Originally Posted by Feyd

You'll get fucked.

I mean.. do it so that you might have a prayer of a chance of recouping some of your repair costs, but as a rule these places make it SO hard for you to get reimbursed.. it's how they make their money.

If for instance your AC condenser goes and you owe 4k for the repair... you might have to chase them around for a year, but you'll get your money back eventually. So in that regard it's good that it's there, but for the $300-$500 repair jobs it gets to a point that it becomes a second job to try and manage the payouts/claims, etc. and it just isn't worth it.

They're a good thing to have, I'm just trying to set expectations that it isn't as great as you think it is. At least you are being smart about it and doing research... I didn't because my Agent "recommended" a firm to me for mine... I figured $350... what the hay!


Well... I'll let the reviews to the talking.

http://www.homewarrantyreviews.com/r...-home-warranty

+1 I don't understand how this mini scam still exists....

[Multimodal]

These warranty programs may be a scam if you expect them to replace your lightbulbs... but I'm not buying a new, untested house without some expectation of coverage against defects in materials and workmanship...

[Freakazoid]

Originally Posted by Mr. Maboomba

These warranty programs may be a scam if you expect them to replace your lightbulbs... but I'm not buying a new, untested house without some expectation of coverage against defects in materials and workmanship...

I definitely don't fault you for it...because as the original poster said, for the big ticket items it helps. But they have to be BIG ticket items, otherwise the hassle you deal with is usually ridiculous. This is why I'm calling it a 'scam', not because it's a waste of your money, more because of what they try to convey with their 'home warranty' program to be an easy, quick/simple thing...when in reality the hoops and paperwork you have to deal with becomes a big time suck.

[Feyd]

Originally Posted by Freakazoid

I definitely don't fault you for it...because as the original poster said, for the big ticket items it helps. But they have to be BIG ticket items, otherwise the hassle you deal with is usually ridiculous. This is why I'm calling it a 'scam', not because it's a waste of your money, more because of what they try to convey with their 'home warranty' program to be an easy, quick/simple thing...when in reality the hoops and paperwork you have to deal with becomes a big time suck.

Exactly.