I am thinking around signing up for this "Service America Enterprise" Insurance for items surrounded by your home...?
Does anyone know about this, i mean if it's a right thing to sign up for..It states coverage for air conditioner, oven, sea heater, refrigerator, washer, dryer, etc//Providing service for 30 yrs..blah blah...
Answers:
I'd bet it's an extended warranty, or other revision of a home warranty. There is no listing for AM Best, so it's NOT an insurance policy, they AREN'T an insurance company. Several cautions:
Warranty companies pop up out of nowhere, trade warranties, and if the claims get to be more than they can touch, they go bankrupt. So the warranty is lone good as long as "Service America Enterprise" is in business. Which might be 3 months.
Also, frequently power-driven breakdown isn't covered, or parts that normally wear out, aren't covered - which means, you don't GET anything for your money. They typically lone cover against "manufacturer's defects".
I'd be very, very leery nearly doing something like that. And if you're STILL thinking about it, phone the BBB in your area and see if at hand are any complaints. Source(s): agent, 21+ years
Warranty insurance (or extended warranties) are extremely profitable - for the company that sells them. I hear that Circuit City makes almost half its sale profit margin from the extended warranties....
I would never buy one. Instead, you should self-insure: clutch the $ you would pay for the policy and put it into savings, to be used ONLY if something desires repair. You will almost certainly come out ahead over a 5-10 year period.
They've been around for over 30 years within FL. They have a satisfactory rating near the BBB but have had 70 complaints surrounded by the last 3 years which is a little elevated. With my experience it may be worth the $300 - $400 premium in any one year but it is not worth the money over time. Source(s): Independent Agent
Call the BBB
Related Questions:
Answers:
I'd bet it's an extended warranty, or other revision of a home warranty. There is no listing for AM Best, so it's NOT an insurance policy, they AREN'T an insurance company. Several cautions:
Warranty companies pop up out of nowhere, trade warranties, and if the claims get to be more than they can touch, they go bankrupt. So the warranty is lone good as long as "Service America Enterprise" is in business. Which might be 3 months.
Also, frequently power-driven breakdown isn't covered, or parts that normally wear out, aren't covered - which means, you don't GET anything for your money. They typically lone cover against "manufacturer's defects".
I'd be very, very leery nearly doing something like that. And if you're STILL thinking about it, phone the BBB in your area and see if at hand are any complaints. Source(s): agent, 21+ years
Warranty insurance (or extended warranties) are extremely profitable - for the company that sells them. I hear that Circuit City makes almost half its sale profit margin from the extended warranties....
I would never buy one. Instead, you should self-insure: clutch the $ you would pay for the policy and put it into savings, to be used ONLY if something desires repair. You will almost certainly come out ahead over a 5-10 year period.
They've been around for over 30 years within FL. They have a satisfactory rating near the BBB but have had 70 complaints surrounded by the last 3 years which is a little elevated. With my experience it may be worth the $300 - $400 premium in any one year but it is not worth the money over time. Source(s): Independent Agent
Call the BBB
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