Home Warranty Insurance for Appliances - Is it Worth It ?

Q: I need some insurance for my appliances. What is the best home warranty insurance with no hassles. Is home warranty insurance a rip-off?

A:To get the best coverage, first examine your house and the age of the built-in appliances. Then consider the life expectancy of each and their relative replacement costs.

Home warranty policies are just like any other policy in that they each have a proper place and purpose. The value of such insurance is a personal decision based upon personal needs. Always read the fine print.

An existing homeowner purchasing such a policy may have many reasons for doing so. The best advantage is that the homeowner does not have to pick and choose contractors, dealers, or repair service agents for each occasion and need. 1 phone call to the warranty company does it all.

By you simply explaining the problem in general terms, such as plumbing, heating, cooling, and water leaks, the warranty company sends the franchised contractor who provides the service required.

Warranty contracts can be limited or inclusive and generalized or specialized. Read the fine print to determine what is covered. Also note any co-payments and deductibles.

Policy prices are geared to entice buyers with low costs. The exclusions and deductibles, along with other fine print, may not be as expected.

Contact the local government agencies that regulate insurance companies to learn more of what is legal and what is not. Call Better Business Bureau to inquire about companies past service records. Buy from a company with a solid track record for customer satisfaction.