I'm wondering if this is a personal decision or if there is one that far outweighs the other as far as cost savings go. I've got a condo that I have a home warranty on, and about to close on a 2nd. I'm not handy when it comes to appliances but I feel like it's more for peace of mind than anything.
I've had one instance where a home warranty covered a new HVAC system that would've cost ~$2K. Another time (more recently), it was not covered... but not total replacement the second time, just replacement of the fan.
A home warranty costs me about $500/year. I have it cover all major appliances. Service charge $125 for someone to come out and diagnose.
I think I felt like it was worth it back in 2012 when paying $500 ended up saving me from shelling out $2K. But now that I've become more Mustachian, I'm not so sure. I have adequate rental reserves. So I should I drop the warranty when it's expired and take my chances?