Home Page link

Anyone Familiar with SystemsProtect?

Home| Search | About
Login Password
Register Now! Lost Password?

Home Repair - - If it ain't broken, don't fix it. Otherwise look here. 

Page 1 of 3       1 2 3 > last >> Bookmark this page:  YahooMyWeb Yahoo!  Google Google  Windows Live Favorites Windows Live  del.icio.us del.icio.us  digg digg  Add to Netscape Netscape
Subject Author Date
Anyone Familiar with SystemsProtect? Wayne Boatwright 05-28-2008
If you were  Registered and logged in, you could reply and use other advanced thread options
Posted by Wayne Boatwright on May 28, 2008, 12:57 am
Our mortgage company recently announced the availability of SystemsProtect
in our area. The plan apparently offers full repair/replacement of HVAC,
plumbing system, clothes washer and drier, garbage disposal, electrical
system, and ceiling fans. 24/7 service availability. There is a $60
deductible per occurrence, and a $29.95 monthly fee. SystemsProtect is not
affiliated with our mortgage company. They are simply offering its
availability as a courtesy.

There are certain restrictions which seem reasonable. There is also a
broader service plan that includes kitchen appliances with a $34.95 monthly
fee.

I'm asking for opinions and/or personal experience because we are in our
60s and probably not capable of making most of the repairs ourselves, nor
financially able to pay for or replace the big ticket items on a moments
notice. We could afford the monthly fee easily within our budget.

What say ye?

TIA

--
Wayne Boatwright
-------------------------------------------
Tuesday, 05(V)/27(XXVII)/08(MMVIII)
-------------------------------------------
-------------------------------------------
Solution: A more subtle problem.
-------------------------------------------





Posted by Mike Paulsen on May 28, 2008, 3:40 am
Wayne Boatwright wrote:
(snip)

> SystemsProtect is not
> affiliated with our mortgage company. They are simply offering its
> availability as a courtesy.

There's absolutely no reason for your mortgage company to do this for
you "as a courtesy." They are getting paid one way or another.

(snip)
> I'm asking for opinions and/or personal experience because we are in our
> 60s and probably not capable of making most of the repairs ourselves, nor
> financially able to pay for or replace the big ticket items on a moments
> notice. We could afford the monthly fee easily within our budget.
>
> What say ye?

I took a quick look at their sample plan. With the monthly fee, $60
deductible, and numerous limitations and exclusions, it doesn't seem to
offer much benefit. If you have a claim every year you might break even.
For example, if your water heater breaks in a way that's not excluded
from coverage, you'll get a maximum of $500 toward the installation of a
"base model that meets all applicable federally mandated minimal
manufacturers’ standards." For this $500 coverage you've paid $360 in
monthly fees.

You can find the expected customer horror stories if you search for some
of the many names they do business under:
http://www.cchs.com/disclosure.html

If you can easily afford the monthly fee then you can easily start
setting aside that amount each month in case you _do_ have a big ticket
repair. If an appliance dies and you don't have enough saved you can
always get a monthly payment plan (read: store credit card) from any of
the big retailers.

Posted by Wayne Boatwright on May 28, 2008, 8:29 am
On Wed 28 May 2008 12:40:51a, Mike Paulsen told us...

> Wayne Boatwright wrote:
> (snip)
>
>> SystemsProtect is not
>> affiliated with our mortgage company. They are simply offering its
>> availability as a courtesy.
>
> There's absolutely no reason for your mortgage company to do this for
> you "as a courtesy." They are getting paid one way or another.
>
> (snip)
>> I'm asking for opinions and/or personal experience because we are in our
>> 60s and probably not capable of making most of the repairs ourselves,
nor
>> financially able to pay for or replace the big ticket items on a moments
>> notice. We could afford the monthly fee easily within our budget.
>>
>> What say ye?
>
> I took a quick look at their sample plan. With the monthly fee, $60
> deductible, and numerous limitations and exclusions, it doesn't seem to
> offer much benefit. If you have a claim every year you might break even.
> For example, if your water heater breaks in a way that's not excluded
> from coverage, you'll get a maximum of $500 toward the installation of a
> "base model that meets all applicable federally mandated minimal
> manufacturers’ standards." For this $500 coverage you've paid $360 in
> monthly fees.
>
> You can find the expected customer horror stories if you search for some
> of the many names they do business under:
> http://www.cchs.com/disclosure.html
>
> If you can easily afford the monthly fee then you can easily start
> setting aside that amount each month in case you _do_ have a big ticket
> repair. If an appliance dies and you don't have enough saved you can
> always get a monthly payment plan (read: store credit card) from any of
> the big retailers.

Thanks, Mike. Point well taken. I think we'll skip this altogether.l

--
Wayne Boatwright
-------------------------------------------
Wednesday, 05(V)/28(XXVIII)/08(MMVIII)
-------------------------------------------
-------------------------------------------
This is more exciting than Woody Allen
on Valium.
-------------------------------------------




Posted by Edwin Pawlowski on May 28, 2008, 5:59 am

> Our mortgage company recently announced the availability of SystemsProtect
> in our area. The plan apparently offers full repair/replacement of HVAC,
> plumbing system, clothes washer and drier, garbage disposal, electrical
> system, and ceiling fans. 24/7 service availability. There is a $60
> deductible per occurrence, and a $29.95 monthly fee. SystemsProtect is
> not
> affiliated with our mortgage company. They are simply offering its
> availability as a courtesy.
>
> There are certain restrictions which seem reasonable. There is also a
> broader service plan that includes kitchen appliances with a $34.95
> monthly
> fee.
>
> I'm asking for opinions and/or personal experience because we are in our
> 60s and probably not capable of making most of the repairs ourselves, nor
> financially able to pay for or replace the big ticket items on a moments
> notice. We could afford the monthly fee easily within our budget.
>
> What say ye?
>
> TIA


They want $420 a year. How much have you spent on repairs in the past 10
years?

Put $35 a month is the bank and you have a good head start. Your mortgage
company is making it available because they get a cut of the profits on
sales, not because they like you. Most home warranty companies use cheap
labor, cheap appliances and often leave people very unhappy.



Posted by Wayne Boatwright on May 28, 2008, 8:30 am
On Wed 28 May 2008 02:59:26a, Edwin Pawlowski told us...

>
>> Our mortgage company recently announced the availability of
SystemsProtect
>> in our area. The plan apparently offers full repair/replacement of
HVAC,
>> plumbing system, clothes washer and drier, garbage disposal, electrical
>> system, and ceiling fans. 24/7 service availability. There is a $60
>> deductible per occurrence, and a $29.95 monthly fee. SystemsProtect is
>> not affiliated with our mortgage company. They are simply offering its
>> availability as a courtesy.
>>
>> There are certain restrictions which seem reasonable. There is also a
>> broader service plan that includes kitchen appliances with a $34.95
>> monthly fee.
>>
>> I'm asking for opinions and/or personal experience because we are in our
>> 60s and probably not capable of making most of the repairs ourselves,
nor
>> financially able to pay for or replace the big ticket items on a moments
>> notice. We could afford the monthly fee easily within our budget.
>>
>> What say ye?
>>
>> TIA
>
>
> They want $420 a year. How much have you spent on repairs in the past 10
> years?
>
> Put $35 a month is the bank and you have a good head start. Your
mortgage
> company is making it available because they get a cut of the profits on
> sales, not because they like you. Most home warranty companies use cheap
> labor, cheap appliances and often leave people very unhappy.
>
>

You're right, Ed. I wasn't really thinking it through. Won't be doing it.
Thanks!

--
Wayne Boatwright
-------------------------------------------
Wednesday, 05(V)/28(XXVIII)/08(MMVIII)
-------------------------------------------
-------------------------------------------
This is more exciting than Woody Allen
on Valium.
-------------------------------------------




Page 1 of 3       1 2 3 > last >>
Similar ThreadsPosted
Systemsprotect July 30, 2008, 6:58 am
Is anyone familiar with blue sheathed 14/2? August 2, 2006, 11:51 pm
For Anyone Familiar With Carb. On Tecumseh 7 HP Snowblower Engine November 2, 2005, 1:00 pm
Re: Anyone Familiar with Amsco or Milgard Brand Windows? April 21, 2007, 1:23 pm

Contact Us | Privacy Policy

XML SitemapXML Sitemap