Old Republic Home Warranty
Should I get a Home Warranty?
Are Home Warranty Plans worth the money? This is much like Extended Car Warranties. There are literally dozens of companies that sell home warranty protection plans to cover the cost of repairs and maintenance of household things that tend to break such as appliances, heaters, air conditioners, washers, dryers, garage door openers, plumbing, pipes, swimming pool equipment and more. Old Republic is the most often heard name in the business because they have a large network of service. Product Review Ratings attempts to break the more common ones down. You name it and you can buy a warranty for it, regardless of its age or condition, though the price and cost will vary. There are a number of companies that provide these home warranty plans and though the pricing between them all is pretty much equal, the quality of service is obviously not. When I decided to look into a home warranty protection plan, a co-worker of my recommended his own service plan with Colorado-based Blue Ribbon Home Warranty. It is always nice to have a referral from someone you know, but how would they compare to the nationwide companies like Old Republic Home Warranty or First American Home Warranty? These were the two names that kept coming up in my search results for Home Warranty plans on Google. Old Republic has been around since 1974 and their name and extensive coverage in the United States is well documented. I quickly learned, that there are numerous other home warranty companies to compare, but a bigger question kept nagging at me:
Is Popular Better?
If so, take a look at Old Republic Home Warranty
Assuming the Old Republic is one of the better warranty companies on the market, would it be worth the investment and fixed monthly or yearly cost to obtain one of their Home Protection plans? How much peace of mind am I buying and how reliable is the service? A little bit of my own recent history is in order:
Size up Your Home Appliances
Before I bought my last house I had never even heard of Old Republic Home Warranty. We bought and moved into a bigger, 17-year old home about 3 years ago. With the home came a few rather pricey, high-tech appliances. At the time we bought this home we were really excited about the fancy Bosch Dishwasher, Jenn-Air Range and extremely unique and expensive Kitchen Aid Refrigerator included in the sale. We thought these nice appliances really added to the value of our purchase. Boy, were we wrong. The home also came with a swimming pool which I was somewhat leery about, but had no genuine idea of what I was really getting into. To make a long story short, in a little less than 3 years, we have spent over $3,500 in maintenance and repair for the home’s appliances – and that doesn’t even include the swimming pool! High tech appliances with digital circuitry break and when they do they are not easy or cheap to fix. I recently had to replace the garage door springs on one of the two doors of my three-car garage; and while I was at it, I had the opener replaced on the larger, out-dated, adjacent larger larger door. In the last three years, the swimming pool required three major repairs: A $700 heat exchanger replacement and a $450 pump replacement. Then, there was the usual things: Hot Water heater required major repairs for a faulty installation and the Air Conditioner required a service call. We also had a pipe burst in our den, which required another $135.00. Our total maintenance and repairs add up to a little less than $5,000 in just three years. So, would a Home Warranty have paid for itself in our case? The answer is a most positive, absolute, ‘YES’.
After discovering the Old Republic Home Warranty and First American Home Warranty, I decided to see what else is available and how they compare. Old Republic Home Warranty claims to solve all these problems, but there are over a dozen Home Warranty Protection Plans and they are priced very close to each other. Which one? Your basic Home Warranty ranges from about $275.00 to $350.00 a year. In addition to the yearly or monthly premiums, they charge you a $75.00 deposit and $50-$55 deductible for each service call. The basic fee in most cases doesn’t cover your Air Conditioner, Garage Door openers, washer, dryer, gas fireplace and numerous other, less common appliances you may have inside or outside your home. Those can be added at additional costs. Blue Ribbon Warranty, whom covers only the state of Colorado, charges $150 a year for swimming pools. I can expect to pay about $400-$600 a year to get my home warranted the way I want. (With the Swimming Pool, probably closer to $600) Even with the $75.00 deposit and $55.00 service call deductibles, I would have saved over $2,000.
Benefits of Home Warranties
Reading over the user reviews online, there is one other huge benefit to a Home Warranty that I did not even consider. You only have one place to call. Whether it’s plumbing, heater, AC or a broken refrigerator or stove, there is only one phone number you need to know. That is indeed a very nice and reassuring benefit, assuming of course, the company is responsive to each and every incident. So, which Home Warranty Company Should I choose? Nationwide Old Republic Home Warranty? First American Home Warranty? Or my local Blue Ribbon Home Warranty of Colorado? When it comes to service, service is everything, so I decided to look at some reviews and user comments of the dozen or so Home Warranty companies that service Colorado and the nation. Here’s what I found:
Best Home Warranty?
Like any Insurance Policy, what good is a Home Warranty if you don’t have 100% confidence that they can deliver the service that you need when you need it? The convenience of having a one-stop shop to call can also be your biggest risk factor. If I have a repair incident and cannot get a quick response from the warranty company, I have no place else to call or go. If I am paying for a service that is not giving me as good or better results than I would get without a warranty company at all then my money is being wasted. I also need to have the confidence and assurance that they are going to fix and pay for my problem. There is really no other way to measure the reliability of a Home Warranty company than to talk to others who have used them. Having done some research and talking to other home owners, there is only one company that would give me this level of confidence. Fortunately, there is a website completely dedicated to reviews and user opinions on Home Warranties: Home Warranty Reviews. Some quick research on reviews and user opinions convinced me that neither Old Republic nor First American Home Warranty would make me confident that my premiums were well spent. Too many buyers complained that the service was either not rendered in a satisfactory amount of time or that they refused to cover a defective appliance or service issue. Out of 170 User Reviews, Old Republic Warranty received an average user rating of just under 3 stars. First American Home Warranty had 152 user reviews and received an average rating of just 2 stars. I realize that user reviews can be negatively biased because people are much more likely to comment when something goes wrong than when something goes right. On the other hand, the high number of negative reviews and comments were simply too much for me to ignore. An insurance plan has to provide 10)% assurance to me that my money in the form of regular premiums is not going to waste.
Blue Ribbon Home Warranty
Fortunately, I was able to find a company with mostly positive reviews and a 4.5 star average rating: Blue Ribbon Home Warranty – the one recommended by my co-worker. I think I will give these guys a call and setup a time for an inspection. There is a $75.00 deposit which is required, but compared to the $5,000 I’ve already spent in the last three years, this seems like a small drop in the bucket. I am inclined to give Blue Ribbon Home Warranty a try this year. If you don’t happen to be fortunate enough to live in Colorado, but are still considering a home warranty plan, I have discovered another one that has very favorable reviews: Sensible Home Warranty. Sensible Home Warranty has a four star average rating from over 157 satisfied users. If I bought my home new, I might not even consider it, but for a home that is 10 years or older, a home warranty with the right company is probably worth some strong consideration. So, let’s look at Old Republic Home Warranty and how it compares to the rest:
Before you go with the most popular Home Warranty Protection, make sure you know what people are saying in your neighborhood about Old Republic Home Warranty.
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