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Not necessarily, and this is a question worth thinking through carefully rather than answering reflexively. The logic of "I have not used it so it is wasted money" applies equally to car insurance, term life insurance, and homeowners insurance. ******* ody calls their auto policy a waste when they go a year without an accident. The value of any insurance or protection product is not measured by whether you filed a claim. It is measured by whether the risk it covers is real and whether the financial consequence of that risk occurring without coverage would be significant.
A home warranty is a service contract that transfers the financial risk of mechanical failure in covered systems and appliances from your household budget to the warranty provider. What you paid for is not the repair. It is the elimination of uncertainty about what a repair would cost if it happened.
Don't Miss:
One repair bill can cost more than a year of this — Choice Home Warranty covers your major home systems and appliances starting at around $49/month.
Not necessarily, and this is a question worth thinking through carefully rather than answering reflexively. The logic of "I have not used it so it is wasted money" applies equally to car insurance, term life insurance, and homeowners insurance. ******* ody calls their auto policy a waste when they go a year without an accident. The value of any insurance or protection product is not measured by whether you filed a claim. It is measured by whether the risk it covers is real and whether the financial consequence of that risk occurring without coverage would be significant.
A home warranty is a service contract that transfers the financial risk of mechanical failure in covered systems and appliances from your household budget to the warranty provider. What you paid for is not the repair. It is the elimination of uncertainty about what a repair would cost if it happened.
Don't Miss:
One repair bill can cost more than a year of this — Choice Home Warranty covers your major home systems and appliances starting at around $49/month.
4 months ago
