Hit $2,250 in plumbing repairs I did myself this year and now I'm rethinking the landlord warranty company

After fixing a leaky toilet flange in unit 3B for $47 in parts instead of paying the $850 deductible on my warranty, I added up all the jobs I did myself this year and realized I saved over two grand, so what are you all paying for those monthly warranty plans that nobody ever answers the phone for anyway?

3 comments

3 Comments

thomas2756d ago

Understand completely. I did the math on my own place last month and came out over $1,800 ahead after fixing a water heater element and replacing a garbage disposal myself. The warranty people took over a week just to call me back when I tried to use them for a small electrical issue. I honestly think these plans are a scam for people who are handy enough to watch a few YouTube videos and turn a wrench. You're better off putting that monthly fee into a savings account labeled "house stuff" and just handling it yourself.

black.joel6d ago

1200 bucks a year for the premium plan at my local utility company and they still hit me with a 75 dollar service fee every time I call. Did you actually break down what you would have paid in premiums vs what you saved out of pocket? Because thats the real eye opener when you look at it over a few years instead of just one month.

elizabeth9001d ago

Think about how many things in modern life are set up this way now. Subscription for this, membership for that, and they count on you forgetting or being too busy to cancel. I noticed the same pattern with my gym and my antivirus software both quietly hiking rates after a year. The real trick is that these plans profit off people who either don't use them much or forget they even have them. It's like a tax on being busy or forgetful, honestly.