Home Appliance Plans

Re: Home Appliance Plans

• megandscott07 member

  September 2012

  We have HomeSmart through Xcel. I would say it's mostly worth it. I think its around 13 per month.
  
  We've used it twice. First time saved us over 800 with a furnace repair. Second only saved us about 150 for AC but that time it broke in July and it was over 100 degrees in our house, and it took them 5 days to get it fixed due to high demand.

  
  

  
  

  

  
  

  

  Report0 Reply
• Loading the player...
• wittyschaffy member

  September 2012

  We have Home Service Plus and love it.  I've only used it once but that one repair paid for all the previous months' fees.  We have the super plan that covers pretty much everything in our house.  The nice part about those plans is that not only does it cover standard repairs, but if the appliance is beyond fixing, they give you a discount on a replacement.

  Report0 Reply
• jnickers98 member

  September 2012

  wittyschaffy:

  We have Home Service Plus and love it.  I've only used it once but that one repair paid for all the previous months' fees.  We have the super plan that covers pretty much everything in our house.  The nice part about those plans is that not only does it cover standard repairs, but if the appliance is beyond fixing, they give you a discount on a replacement.

  Is it a discount on the replacement, or does it totally cover equivalent replacement?
  

  
  
  

  Report0 Reply
• jnickers98 member

  September 2012

  Do either of these plans have a trip charge when you have to call for a repair?  Or any other hidden costs?

  Thanks for your help.
  

  
  
  

  Report0 Reply
• wittyschaffy member

  September 2012

  you get a discount if the unit has to be totally replaced (rather than repair a part).  For instance, most furnace repairs are to replace a part that went bad.  However if your particular furnace was totally shot, they'd give you a discount on a new furnace.

   We didn't have to pay a trip charge for our washer repair (stopped draining, wouldn't agitate.  I read online it is a common problem but I didn't want to lay on my basement floor to fix it!)  They had the part on the truck and replaced it on the spot and we were back in business.

  Report0 Reply
• megandscott07 member

  September 2012

  HomeSmart has no trip charges or any additional costs besides the monthly fee.

  
  

  
  

  

  
  

  

  Report0 Reply
• akstanl member

  September 2012

  We opt to have an emergency savings account. In the past 3 years + we've been in our house we've only replaced our furnace, which could have been a $150 repair but it was so old anyways we just opted to replace. We have a few reputable appliance repair people we've been recommended and the people who replaced our furnace also do appliances. So instead of paying a monthly charge we self-insure by having a savings account.
  

  
  
  
  

  Report0 Reply
• ladygeek83 member

  September 2012

  I looked in to one of these once when my MIL recommended it, and decided for us it was not worth it. One item I read in the "fine print" was that the company issuing the plan decides if the repair is too costly and that you should replace the appliance, but they will never pay for a complete replacement - just give you a discount. The discount doesn't go very far on a costly appliance like a furnace. So you can still be stuck with a large expense if that were to happen, even with the plan.

  If the plans covered complete replacement, I would probably have signed up - but since they don't, we opt to self-insure with our emergency fund. I'm guessing they don't cover complete replacement because they would either lose money or have to raise premiums so much that people wouldn't buy the plans. I just don't see the point in paying money to insure the less expensive repairable breakdown, but not a very costly replacement.

  Report0 Reply
• jnickers98 member

  September 2012

  Thanks everyone!
  

  
  
  

  Report0 Reply