(800) 853-2651
SHOP NOW

OT---Warranty and Insurance (RANT)

J

Jiles

Well-known Member
I am beginning to believe nearly all Warranties and Insurance Policies are a waste of money!!---Necessary evil!!
I just read my homeowners policy and was amazed at what has changed or been excluded, in relation to what I have had in the past.
Seems like--with ANY Policy--there are MANY ways the insurance or warranty company can refuse to pay!
Defect in "material and workmanship" is not worth much to me because the manufacturer determines that.
Seems like it is to protect them, not you!
Over the years I have collected on very few claims, but was denied on many more. But the bottom line is---You better have insurance!!
 
Let"s see. They know the odds of it breaking. They decide how much to charge for the extended warranty (knowing the odds) and then write the warranty. What makes you think buying the extended warranty isn"t in your best interest?
 
TV runs lots of ads for different kinds of insurance, like life insurance. They say you don't need a physical examination, your rate will never increase, you won't be cancelled because of your age. If it's too good to be true... there has to be all kinds of fine print such as if you die within a certain period of time they pay nothing. After all they get to make all the rules.
 
Hello jiles,

Believe it! Besides the fact that it cost you more for whatever you are buying, collecting on it is never easy. Do the math. My out of warranty refrigerator was repaired for less then $200.
They would insure it for about the same amount EVERY YEAR! I'm $600 ahead. It was 4 years old! Put the money aside every year for the warranty, pay when It fails with the money, keep the remaining dollars!

Guido.
 
(quoted from post at 21:04:36 08/27/13) Hello jiles,

Believe it! Besides the fact that it cost you more for whatever you are buying, collecting on it is never easy. Do the math. My out of warranty refrigerator was repaired for less then $200.
They would insure it for about the same amount EVERY YEAR! I'm $600 ahead. It was 4 years old! Put the money aside every year for the warranty, pay when It fails with the money, keep the remaining dollars!

Guido.
Click to expand...
Years ago, I bought a new Whirlpool side by side refrigerator with a factory 1 year warranty. It started freezing up FOUR DAYS after warranty expired and they refused to warrant!!!
Fortunately I have a friend that checked it out and discovered the defrost timer was bad.
It cost me $12.00 for the part.
I just could not believe Whirlpool would not cover the appliance
and the selling dealer would do nothing either.
Needless to say, I have not bought another Whirlpool appliance--if I knew it was Whirlpool--nor have I patronized the selling dealer!
I just guess they were both disappointed that I didn't buy their warranty!
It ran several years so I guess I came out to the good.
 
Warranties I don"t pay much attention to, insurance I do. For that, it all depends on who you"re doing business with. Had a guy stop by here for another reason but when I mentioned how nice my claim was settled, he said that his days as an independent adjuster left him with a clear decision to only buy insurance from two companies.

One was mine, Erie. Who was extremely nice about a tree hitting an outbuilding. They paid for replacement of the extremely expensive roofing but allowed me to substitute cheaper copper standing seam. I came out ahead, if it happens again the claim will be considerably smaller.

I"ve heard horror stories about insurance claims, and even had an independent adjuster accuse me of arson once, when I had Allstate insurance. Pretty sure she never worked for Allstate again. I got a LOT of calls from Allstate over that.

If you are being mistreated by your insurance company, you chose the wrong one.
 
You need to read the homeowner policy very carefully.

For instance. Did you know that if a riot or civil insurrection takes place and your home is vandalized or wrecked the insurance company does not pay. Same with an act of war or of course flooding, unless you buy flood insurance. I had an arguement with the woman at my OLD place that had my HO policy. I told her to reduce the size of what my policy covers if the house burns to the ground. It was covered for $300+K I told her....Hey look.....If the house burns to the ground I still have the foundation and I want it reduced to $235k. She reduced it and I saved over $100 per year. Then I switched to Farm Bureau and saved a ton.
 
Last month I bought a scanner/ printer at WM for $29.00 . They wanted to sell me an extended warrenty, for thirty bucks? joe
 
Don't you know the word expired means finished. Four days after the date means no warranty. No warranty means no pay.
 
Hello jiles,

I think you get the idea! Timer are the first thing that you look at for no defrost. Now with the electronic units, all they (REPAIRMAN) do is swap boards. Problem is that one can cook another, and we get stuck with their guessing.
An unhappy customer, is a former customer!,

Guido
 
After the way nationwide treated me after I wrecked my truck, I will never deal with them again. They wouldn"t put a value on it til they had the pay-off info from the bank, and low-balled me on it, trying to push me into paying for more coverage. Then they were calling my dad daily asking if I was going to take their offer when I was the only one named on the policy, and he had dropped them the year before due to the agent"s front office screwing him over.

He finally left them the day he got the cancellation notice, he was on the way to town and was going to pay his bill while there- 2 days before it was due!
 
Kind of like the extended warranty they always try to push when you buy tires. About 10% of the cost of the tire, but of course payout is reduced depending on how many miles are on the tire.

Last time a guy tried to sell me that deal I asked him if one out of every ten tires he sold failed almost immediately. He got the message.
 
Most of the basic exclusions to homeowners policies have been there forever. Where you run into problems is when the state and Federal governments start getting involved and they try to tell ins. companies what they must cover. When that happens it creates a ripple effect. Premiums go up and exclusions get added.

Government needs to stay out of ins. Ins. is a private contract between a homeowner and the company. Everything is spelled out in the policy. The State dept. of Ins. usually oversees the process to keep it above board.

Helathcare is in the process of being ruined.

Gene
 
We bought a 37" flat screen TV about 3 years ago and bought 2 year extended warranty.
Last month and 1 month before the warranty ran out the TV died.
We took it in for repair but it was found unrepairable.
Insurance called us last week and told us to go back to the original store and pick out a brand new flat screen TV.
Wife came home today with a new 50" TV incl 4 yrs ext warranty.
She didn't have to pay a cent extra.
:lol:
 
Sometimes the service plans or warranties work out. We've actually had good luck with Sears plans on dishwashers, driers, washers. But it's not cheap. Of course neither is appliance repair. The only other insurance that's worked out for me is "gap insurance" which is a plan that pays the diff between value and balance on a car loan in the event of accident. I think it cost me $45.00 and paid out over $3K.
 
Depending on your state insurance laws you pretty much get what you pay for with insurance. If you are one of "those" people always trying to get the cheapest rates your insurance most likely isn't too good. In any case you should read your policy. If there is something in there you don't understand talk to your agent. If your agent can't explain it maybe you should look at buying insurance from someone who knows what they are selling.

Rick
 
(quoted from post at 13:41:00 08/28/13) Depending on your state insurance laws you pretty much get what you pay for with insurance. If you are one of "those" people always trying to get the cheapest rates your insurance most likely isn't too good. In any case you should read your policy. If there is something in there you don't understand talk to your agent. If your agent can't explain it maybe you should look at buying insurance from someone who knows what they are selling.

Rick
Click to expand...

Good advice, Rick. I've worked in commercial insurance for 33 yrs and coverage is not as clear as you think it should be. It is a highly regulated industry where the state has to agree on how much you charge, what coverage you can provide, how you can sell it, and how you have to settle claims. You farmers, imagine what your life would be like if the state told you what to plant, how much seed to use, where to plant it and how you were going to harvest it. And if you want to change anything you have to apply to them to change it and pay them a fee to be able to ask them. Oh, and you'll be in court at the drop of a hat because someone disagrees with what you've done or how you do it. Is it fun for you yet?
 
I just could not believe Whirlpool would not cover the appliance
Click to expand...

You said it yourself, it was FOUR DAYS beyond the warranty period.

You agreed to that warranty period. You knew when the end day was.

I know from a common sense standpoint that they should just cut you some slack and extend warranty coverage, but then as a company, where do you draw the line???

Five days?
A month?
Six months?

Guy comes along with a broken fridge 5 days out of warranty... He sees you got serviced at 4 days over, so what's another day? Next guy comes along at 6 days out; what's another day? Then 7, 8, 9, 10, 11, 12, 13.... Suddenly they're doing free service on refrigerators 6 months out of warranty!

Warranty ends on Day X, period. That is fair to you and the company and everyone else who buys the same product.
 
Insurance is nothing but a contract between you and the insurance company and whats is in the insurance contract(policy) is what is covered period.The problem is most people want cheap insurance with just about unlimited coverage.
Another generally misunderstood business relationship is bank deposits.When you deposit money into a bank you are basically giving them an unsecured loan.
 
You must log in or register to reply here.
Tractor Parts Tractor Manuals

We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today.

Copyright © 1997-2024 Yesterday's Tractor Co.

All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.

Yesterday's Tractors - Antique Tractor Headquarters
Website Accessibility Policy

Back
Top