SidecarFlip wrote:
gbopp wrote:
Ask for a copy of the policy.
Read it and understand all the exclusions BEFORE you agree to purchase the policy.
EXACTLY
Yes! Read the actual policy not the sales brochure or listen to the person selling it.
As a general rule the odds are not in your favor with these policies. They have access to millions of repair tickets and exclude anything that routinely breaks. They usually write in procedures you have to follow exactly to get them to pay designed for them to deny a claim.
It is an insurance policy. They take the premiums of many, take out their profits and salaries, and then pay to the very fw who have a claim.
If you buy it and roll it onto your loan, don;t forget to add the interest to your costs.
Never insure anything you can afford to pay for yourself.
Would you pay thousands of dollars to insure a $600 air conditioner?
