Is a Home Warranty Really Worth It? Here Are the Pros and Cons

Home warranties are not worth it. We talked about them in Better Homes & Gardens, and the problem I have with home warranties is that they have a deductible and that deductible usually eats up the benefit of having it in the first place. So if you need a repair for an appliance or anything like that, they might charge a $150 deductible on top of the cost of the plan, which is between $300 and $600. After all the payments and everything like that, you would have been better, probably just hiring someone if you had a problem with an appliance. Only get a home warranty when the seller offers you one when you’re buying a home. After that, after that first year, I think it’s time to cancel them and get rid of them.