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I have a new construction home. The builder has been attentive to fixing things for the walk through. I am getting a mailing from 2-10 to start a contract for a home warranty.
Is this really necessary? The appliances are new. The amount I spend for the cover + deductible would amount more than the cost of calling someone in, I am thinking.
Of the new construction home buyers out there: Have you purchased a Home warranty?
I don't see a good reason to purchase it now unless you have money to burn. The builder is responsible for any and all repairs for at least one year. In AZ that warranty is extended to two years - http://www.re.state.az.us/COMMISH/Documents/Commissioner's_Advisory_2.pdf (broken link) and it may get even better - Arizona Homeowners Bill of Rights (2008 - Ballotpedia (http://www.ballotpedia.org/wiki/index.php?title=Arizona_Homeowners_Bill_of_Rights_ (2008 - broken link)).
Check how your state handles the issue past year one, but you're definitely covered by the builder's warranty for the first year. I believe the builder's warranties on some items are longer - up to 10 years, if I remember correctly.
I have a new construction home. The builder has been attentive to fixing things for the walk through. I am getting a mailing from 2-10 to start a contract for a home warranty.
Is this really necessary? The appliances are new. The amount I spend for the cover + deductible would amount more than the cost of calling someone in, I am thinking.
Of the new construction home buyers out there: Have you purchased a Home warranty?
2-10 usually requires that people must sign up for this before construction even begins, so I wonder why you are getting this offer now, at walk-through stage. If you have an attentive builder, I wouldn't waste the money. He will give you a warranty of 1-2 years anyway, the suppliers & contractors will also have their own warranties, and with the building codes & inspections as strict as they are, you should not have any problems with your new construction.
You need to find out what the warranty covers - and what it doesn't.
Likely not much is going to break in the first few years, and many things in the house will have a manf. warranty anyway (such as a/c compressor).
Generally the builder is the one that pays for the 2/10 and it usually covers structural issues.
Make sure what the product is before you get out the checkbook.
There will also be a bunch of "pre existing conditions" that they will not cover. Read the terms carefully.
My advice is to research on Homeowners for Better Building and Homeowners against Deficient Dwellings. Read about the 2/10.
Go to ripoff reports to see about some of the warranty companies.
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