Extended third party warranties

[NoTrespassing]

Who buys these warranties that people keep trying to sell me? Extended car and house warranties in particular is what I'm talking about. I have no idea what the rates would be but I'm sure it's difficult to collect on them.

Kevin

 

[Oaktree]

Probably the same people who buy all the other "not available in stores" crap advertised on cable channels.
Keep in mind, most of these ads are what are so called "per inquiry" ads meaning the only revenue the station/channel gets from these is a commission on any sales they generate.

 

[Doughknob]

Not me. I wonder also. Must be enough who do in order to keep that business model going. The chance of needing such a warranty is so low as to make the cost not worth it. Unless you are one of the VERY few who do end up actually using it.

 

[Dftodd]

I had a 1 year home warranty that was supplied by the seller when we bought our house.

While in the process of moving in, the AC went out. Would have been $1200 for repairs. Cost me the $65 copay.

Granted the home warranty would have cost me $450 a year if I wanted to keep it going.

After 3 years, I would have paid that $1200 anyway.

It's not really worth the money for a home warranty unless you can get $450 or more worth of service each year.

Now if you got an old ancient heating and AC system in your home.....

 

[CloverKnollFarms]

Warranty companies make a profit. They do so because you pay them more, than they pay you.
If you can self insure, do it every time.

 

[3Ts]

They also list the items they will cover which are the most reliable, least likely to break items. If it's not listed, it's not covered.

 

[Jstpssng]

It seems like everytime I buy something they try to sell me the "extended warranty" plan. "For just 24.99$ you can have a 3 year warranty on that microwave for which you just paid 69.59$. ER, no.

Has anybody ever looked into "pet health care insurance"?
I pay a stupid amount in vet bills, mostly for injuries because both my previous and current dog think they were/are a bull. So I looked into coverage. The premiums are outrageous; by the time I totaled premiums, deductibles, and the copay I didn't feel so bad about the $2000 repair bill which prompted me to pick up a brochure. Even after paying out of pocket, I still came out ahead.

 

[kenmac]

Who buys these warranties that people keep trying to sell me? Extended car and house warranties in particular is what I'm talking about. I have no idea what the rates would be but I'm sure it's difficult to collect on them.

Kevin

A lot people purchase home warranties. I made a living performing service calls for home warranty companies.

Many people purchasing homes will require the seller to offer a home warranty in the deal.

The cost people have to pay when calling for warranty work like service calls (around here $75.00) then there are deductibles, then, those hidden cost the home warranty doesn't cover..

 

[Fixastuff]

When I used to have an auto repair shop I would get random people with those tv warranties, they never covered the repairs.

 

[Oaktree]

When I used to have an auto repair shop I would get random people with those tv warranties, they never covered the repairs.

Dunno if anyone else has noticed this, but in the Carshield ad with the pitchman at a desk in a repair shop, there's a picture of someone using a ratchet...looks to me like they're tightening a LH thread bolt.