by 
The Curious Bag
-
<h4 class="dechead">On One Hand: Some Warranties Have Too Many Exclusions
Although warranties appear to promise protection from unexpected expenses, according to consumer protection organization Preferred Consumers, many such warranties very explicitly spell out what they will and will not cover. Issuers often exclude expensive repairs like air conditioners and appliances, and these exclusions can leave home warranties practically worthless.
On the Other: Some Warranties Actually Work
According to mortgage information website BankRate.com, almost all homes have issues that appear after the buyer assumes ownership. BankRate.com cites the case of one homeowner who experienced failures of a home heating system, dishwasher and hot water heater; in this particular case, the home warranty covered the appliances and the homeowner received new replacement devices with only minimal out-of-pocket expense.
Bottom Line
Home warranty shoppers must thoroughly evaluate their prospective policies. With careful evaluation, homeowners can purchase worthwhile home warranties.
Source:
Preferred Consumer: Are Home Warranties Really Worth the Money?
RELATED QUESTIONS
Copyright 2023, Wired Ivy, LLC