“My system is brand new and has a 10 year parts warranty, so why would I purchase another warranty?”
It’s important to realize that manufacturer’s parts warranties provide only the replacement part. They do not cover labor, refrigerant, processing, and shipping fees or any incidental items necessary in completing the repair. The customer will be responsible for all expenses, other than the part itself.
For example, the cost to replace an evaporator coil that is still under the manufacturer’s part warranty is roughly $625 – $750 in labor and incidentals alone, not including refrigerant (which is billed per pound as required to bring the system back to proper, operable charge). This can be an additional $300-$800 depending on the type of refrigerant and amount that the system can hold.
With a complete care plus extended warranty, this same repair would’ve come at a cost of a minimal deductible (currently $49 per claim, $99 as of May 1st, 2015), and would’ve likely covered your investment in the initial purchase price of the warranty.
Not only does complete care plus coverage provide you with substantial savings on repairs, it also provides added value to your home, because it’s fully transferable, should you sell your home.
Unfortunately, when it comes to mechanical devices, regardless of brand, it’s not a question of if it will fail, but rather, a matter of when. An air conditioning system in southwest Florida operates an average of 2,800 hours per year. It’s typically the equivalent of a 53+ hour work week, every week of the year, or like putting over 100,000 miles on your car in a single year! It’s hands-down, the most used, hardest working, appliance in your home.
In our opinion, this is one instance where an extended warranty is, without a doubt, a worthwhile investment.