Who needs a warranty?
I’ve been living in my downtown rental for two years. It’s a 10 year old condo that has updated appliances, hardwood floors, and a spectacular view of the city.
When I moved there in 2009, I requested Mark, the owner, put a warranty on the condo. Against my suggestion, he politely declined, explaining that he had just put in new appliances about 3 years ago and it would be a “waste of money”.
Now let’s fast forward to last March when I noticed the floor to my walk in closet was damp. Actually, it was soaked. When I opened the HVAC closet, I saw the unit had frozen and was thawing out, dripping water onto the floor, causing it to seep into the closet. Franticly, I called Mark, and he called an HVAC company to come take a look at the unit.
The company recommended replacement and quoted Mark $6,600. Mark, of course, not having $6,600 just lying around, wanted to shop for a better price. As a result, I was displaced for about 28 days while he was comparing prices and replacing the unit, which meant he could not charge me for the month that I was not there. Now Mark was out over $8,000.
The cause of failure was that the compressor, being about 10 years old, had locked up. This caused the unit to freeze and ultimately fail.
This was coverable by a home warranty. It would’ve only cost him $75 to replace the unit if he had just put the warranty in place when I had asked.
Now I’m not the type of girl to say, “I told you so”, but I did have to inform Mark of his costly mistake.
I am happy to report that I now have a warranty. I have had the dishwasher and garbage disposal repaired, the ice maker replaced, and even a new bath tub stopper installed. The warranty covered all of these repairs and Mark only paid a small deductable.
So who needs a warranty? Everyone!
A home, in any given year, has a 68% chance of a system or appliance failure. That includes anything from a microwave to a hot water heater. Depending on the appliance or system, repairs can cost anywhere from $50 to thousands. I don’t think I know anyone that has thousands tucked away for a special occasion like an HVAC replacement!
So, what’s the moral of this story? Don’t be like Mark. If you’re buying a home, ask they include a warranty. If you’re selling or renting a home take advantage of seller’s coverage. Talk to your realtor about how a home warranty can benefit you. Always protect yourself and your pocket. You’ll be happy you did!!
Jaime Rose
HSA Home Warranty Representative for Charlotte and Western NC
