This is why I have a policy with American Home Shield. Anything breaks in the house, I pay $100.00 and they come fix it or replace it. My replacement for the 21 year old water heater that sprung a leak was $100.00 total. Small policy payment each month, but after a refrigerator, a central air compressor, a furnace, and a water heater, I came out way ahead so far.
Hmm...$600 a year...$6000 in 10 years, what could go out that would cost more than $6000? AC and $3000 worth of appliances? All my stuff would have to go out at once to make this a deal.
We have this and it's glorious. No tank to rot out, hot water for hours or days if you like. My wife has been known to have to be told to get out of the shower.
My experience may not be typical, but once (or twice) burned, forever shy. I wonder if we're talking about different kinds of "flex"? There's a corrugated copper tubing that's easily bent that's good to go. It's the braid-covered rubber garden hose type similar to toilet and sink connections that I've had trouble with and would never recommend to anyone.
In Southern California, just the cost of the items I listed, without taking into account installation costs, were about $5,500.00.
Installation would have added a couple thousand to that total.
So, if you buy a house, and it has top of the line appliances, but they are old, it is probably worth it. If you just bought all new stuff and don't expect anything to break in the next 5 years, maybe not. Another thing to take into consideration is whether or not you have the cash on had to cover the entire expense when it hits.
You probably pay for car insurance. Why? Does the law require you to have "Insurance"? No. It requires that you have the ability to financially cover the costs of any accident. You could simply tie up $300,000.00 into a bond and not have to pay the expense of having insurance. But most people don't have the available reserve to do that.
I've got the copper with the dialeletric inserts.
WOW,prices have gone up since the last time I had a water heater replaced. Just looked at Home Depot
Don't forget that ONG has a rebate program going on for energy star appliances, HVAC systems and hot water heaters. I just bought windows that are energy star and they're paying $100 each.
No the law states you must have liability ins as a min. Over insuring is just bad economics.
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