1137: Are Home Warranties Worth It? by Mike Ballew of EggStack on House Warranty & Insurance Decisions

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🗓️ 20 April 2020

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mike Ballew of Eggstack shares if home warranties are worth it. Episode 1137: Are Home Warranties Worth It? by Mike Ballew of EggStack on House Warranty & Insurance Decisions Mike Ballew is a 56-year-old engineer turned blogger who reached a point in life where he sees things more clearly than ever before. He faced financial challenges and overcame them through hard work and determination. His blog helps others navigate their personal finances and plan for retirement. The original post is located here: https://eggstack.com/blog/2020-03-08-Are-Home-Warranties-Worth-It/ Visit Me Online at OLDPodcast.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is optimal finance daily.
0:02.3	Episode 1137.
0:04.3	Our home warranties worth it
0:06.1	by Mike Ballou of Exact.com.
0:08.9	And I'm Dan, I'm your host to happy Monday to you.
0:11.6	Hope your week is off to a good start. And as I said I've got a post from Mike from
0:17.0	Eggstack talking about home warranties so let's get right to it and start optimizing your life.
0:24.0	Are home warranties worth it by Mike Ballou of Eggstack.com
0:32.0	No, home warranties are not worth it.
0:36.0	Home warranties are forced savings for people who don't have the self-discipline to save.
0:41.0	items that predictably wear out from normal use are not good applications for insurance.
0:46.9	Good insurance.
0:48.5	There are two kinds of insurance in this world, good insurance and bad insurance.
0:53.1	Good insurance is relatively inexpensive and it covers tragedies which are highly unlikely
0:57.8	to occur, but if one did, it would wipe you out completely.
1:02.2	An example of good insurance is homeowners insurance.
1:05.0	If you own a home and have a mortgage, you have homeowners insurance.
1:08.5	It covers calamities such as fires, earthquakes, floods, tornadoes, and hurricanes, depending on the policy.
1:15.5	It's relatively inexpensive considering how much it pays if you have a claim.
1:19.8	On average, homeowners insurance costs about $100 per month.
1:23.4	If your home burns to the ground, the insurance company is on the hook for the
1:26.9	home's entire value.
	...

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