It’s generally accepted that extended warranties, home warranties, etc are generally not good deals if you can handle a shock expense with your savings/income. To stay in business, these companies have to come out ahead so the odds are against you that it will pay off. However, there are some cases where you may want to take the gamble such as nearing end of life on several expensive systems or appliances.
With that said, what have members found to be some of the best options for home appliance & systems warranties? Or, is there an alternate strategy other than complete self-insurance?
I received a mailer from TotalProtect (response letter goes to Home Service Plan Protection in Fort Lauderdale, FL) advertising $48/month for both home systems & appliances, $38/month just for systems, and $20/month just for appliances. $100 service fee. I have to send it in to get the full agreement to look for gotchas, but those were the highlights in this mailer. This is supposedly a promo for Pentagon Federal Credit Union members which many of us from FWF were.
The mailer has a lot of red flags like scare tactics, and suggesting they’ll replace your systems when likely they will just keep trying to repair/patch. One major appliance or system if really replaced would pay for several years of this protection - so I’m sure that is very rare.