What is a Home Warranty? | Should You Get a Home Warranty?

Should you get a home warranty when buying a home?

Depending on a policy’s specific terms, home warranties can provide coverage of your appliances, pool equipment, roof, and more. However, it will only cover these things if you can prove they were previously working. It is imperative to keep a copy of the home inspection you had completed when you purchased the home showing they were in good working order.

Now, do you need a home warranty?

A home warranty is only good if you actually use it. What do I mean by that? You have to go through the correct steps to get your appliance repaired with the home warranty company or they may not cover any necessary repairs. If something breaks, always call your home warranty company first and go from there.

Do you already have a home warranty? Should you renew your home warranty when it’s time for renewal?

That is really up to you. My recommendation, if you’re going to renew your home warranty, make sure you use it. Call your home warranty company for any little thing that pops up so you’re getting the value out of it. They can be very beneficial and save you money.

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My name is Ryan Schramm. I am a San Clemente real estate agent and broker/owner of Ryan Schramm Real Estate.

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[jacksmithstupid]

I bought the insurance of choice home warranty. I have a problem with the air conditioner not cooling. And I contacted choice home warranty to fix it. And they contacted SA Heating and air conditioning to make an appointment. But CHW technican arrived late. And they looked for less than 5 minutes and said that the refrigerant coil was broken and couldn't be fixed and had to be replaced systems new . And take me $75 deductible. Then they reported it choice home warranty. In the end they didn't want to fix it

[joyabongwa]

Does it make sense to pay $900/year for home warranty when you can buy a new dryer or washing machine for about $600? Makes no arithmetic sense to me

[fernneliapayne]

I’m with Choice Warranty. I believe home warranties are a rip off . My water heater went out. Their technician came out and he said I need a new water heater because it could not be repaired. But Choice warranty decided not to pay for a new water heater. So I still had to pay out-of-pocket of $1400 plus the $75 I had to pay them to come out. They will only cover or repair small tickets items like a leaking faucet or a garbage disposal Nothing that is a high ticket item. Even though they tell you they will cover your air conditioner and water heater, etc. They find a way to justify why it’s not covered.

[johnveca]

Great vid. Open a high-interest savings account and put $700.00 - 800.00 in the account every year to cover the cost of appliance repairs or purchases. Truth be known, you won't have to repair or replace your appliances that often, and the big stuff (E.g. HVAC, water heaters) will only be covered marginally by the standard appliance warranty. As with most extended-type warranties, home warranties are a rip-off. Why pay for something with a marginal possibility and a low probability of breaking?

[calvinreichelderfer]

I canceled my AHS home warranty.
Big waste of money

[SavingsForYou]

Thanks! I didn’t know you could do that with the rental property.

[mjkobylski]

Great info as one needs documentation at inspection of working items. VERY important if you are looking at a HW. Super work.

[eltodotheverything]

I have American Home shield, they charged $0 for AC tune up, but something had to be repaired so they ended up charging $100. Everytime they need to come out to check on a service its a $100 service fee 🙄 . So the warranty for me was $750 so far im at $950. Its ridiculous.

[Unbothered.design]

Thank you for this insight. On point and no nonsense. Love it 🙏🏿

[newsomsr]

Can you make a video of everything working in your house

[A.O]

I am buying a fixer upper, would it make sense to get a home warranty at closing? I plan on fixing the issues that aren’t working before closing (electrical etc.)

[stevecarrico]

Don't forget home warranties on rental properties. With tenants they are lifesavers. It makes getting repairs done a walk in the park.

[magic]

If you need an HVAC replaced, you are waiting at least a month for the approvals. First you need to get past the Fly By Night companies they send to your home. Then, you get a surprise such as they don't cover the cost of freon and certain parts in which you pay. If they can't fix an appliance, they low ball you by issuing you a credit to Home Depot or Lowes. Example: your stove replacement will cost 850.00. They will offer you a credit for 350.00. You can either accept the offer or dispute. If you dispute, you are waiting another week and they may offer 500.00 if you're lucky.

[susana]

Thank you for your advice.🙏🏻👍🙏🏻
New sub.🎉

I live in Northridge, California and I see you are in O.C. Do you recommend any home warranty companies for my area?

[robertjordan]

My wife and i have owned our homes for five years, Can we still get a home Warranty?

[lindaposeymize]

Don't use American Home Shield. They will keep you on the phone and try every trick in the book to keep you from cancelling. I canceled one day after they took out a payment and they wouldn't refund.

[sasunshine]

No, Mr. Realtor, the key is don’t buy a HOME Warranty at all. Doesn’t matter if you call the HOME Warranty company first.

[steveharris]

Not “they MIGHT pro rate it”. They WILL prorate it. I.e. If your refrigerator is 15 yrs old, they give you $200 towards a new one.

[AdrepKeith]

What if your mortgage Company demands you have a home warranty and it is renewal time. And if I drop the warranty my mortgage payment should go down right?

[TheHomeWarrantyChannel]

This is a great overview! And warranty companies ARE different and provide different levels of coverage, and clarity of coverage helps, so a company that is reputable won’t even try to get out of paying a legitimate claim. #orhp