Clark is not a fan of home warranties. He highlights two issues with home warranty services that he's seen time and time again:
- The quality of many of these companies is sometimes suspect.
- It can be difficult to get warranty companies to honor their agreements.
“They tend to, even for something that’s 20 years old, they’ll stall you and stall you and say, ‘Oh, the parts aren’t available still,'” Clark says.
Instead of sinking your cash into a home warranty company, here’s what Clark suggests:
I’d rather you take that $500-$600 a year and put it in an appliance replacement savings account that you can draw on — instead of messing up your life by trying to deal with these impossible-to-deal-with people at one of these home warranty companies.”
Want to set aside some cash? Read our Emergency Fund Guide.
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