A retired plumber in Edmonton changed my mind about home warranty plans

I used to think home warranty plans were a total waste of money, like throwing cash down a hole. Then last fall, my furnace gave out in early November, and I was looking at a $4,500 repair bill for a new heat exchanger. I was complaining about it at the hardware store while grabbing some pipe insulation, and this older guy in a Carhartt jacket overheard me. He told me he's been a plumber in Edmonton for 40 years and said the secret is to read the fine print on those warranty contracts because most of them are junk, but a few actually cover big stuff like furnaces and water tanks. He showed me his own policy on his phone, and it had paid out $7,000 over five years for two major repairs. I ended up buying a plan from a company he recommended, and it saved me the whole furnace cost plus a water heater leak last January. Has anyone else here had a warranty actually come through for them, or am I just lucky?

3 comments

3 Comments

ivan_murphy801mo ago

Bet that plumber's warranty trick only works if you live somewhere with brutal winters.

laura_chen411mo ago

Read somewhere that these plans basically bank on people forgetting to file claims or giving up after the first denial. @kimfisher you're right that the fine print makes or breaks it. Sounds like you lucked out with a solid company.

kimfisher1mo ago

Gotta disagree a bit with @ivan_murphy80. I'm down in Texas and my warranty paid out for a busted AC compressor in July, so brutal heat works just as well as brutal cold. The key is what that plumber said about reading the fine print before you sign. My policy specifically listed major HVAC parts and water heaters, and they cut a check for $3,200 after my deductible without any hassle. Did you ask the plumber which company he used or just take his word on the policy details?