PLANNED.
PLANNED. IT WILL JUST RAISE THE PRICE OF
ITS MORE EXPENSIVE MODELS BY
3%.
3%.
3%. >>>
3%. >>> NEW FINDINGS.
HOME WARRANTIES SUPPOSED TO
PROVIDE PEACE OF MIND, BUT
CHECKBOOK FOUND THEY ALMOST
NEVER MAKE SENSE FOR CONSUMERS.
WARNINGS ABOUT THAT, AND WE
ALSO TALK ABOUT WAYS TRAVELERS
CAN SAVE MORE MONEY.
GOOD TO HAVE YOU HERE TODAY.
I BOUGHT THESE BEFORE.
I THINK THE INCENTIVE IS IT
TRULY IS PEACE OF MIND.
WHY DO YOU FEEL THAT THEY
AREN'T A GOOD INVESTMENT?
>> THE MARKETING FOR SURE MAKES
THEM SEEM LIKE PEACE OF MILD.
THEIR ADS SAY, IF YOU BUY THIS
POLICY, YOU DON'T HAVE TO WORRY
ABOUT ANY BIG HOME REPAIR
COSTS.
COSTS.
COSTS. THE PROBLEM IS THERE ARE STILL
COSTS.
COSTS.
COSTS. FIRST, YOU HAVE TO BUY THE
POLICY.
POLICY.
POLICY. THEY COST BETWEEN 400, TO MORE
THAN $1,000.
THAN $1,000. ON TOP OF THAT, EVERY TIME YOU
NEED A REPAIR, THEY SEND
SOMEONE OUT, YOU HAVE TO PAY A
COPAY OF $75, TO $125,
SOMETIMES EVEN MORE.
EVEN IF THE REPAIR ISN'T
COVERED BY THE WARRANTY, YOU
STILL HAVE TO PAY THAT SERVICE
CHARGE.
CHARGE.
CHARGE. AND THE BIG PROBLEM IS A LOT OF
TIMES WHAT'S WRONG ISN'T
COVERED BY THESE WARRANTIES.
WE WADED THROUGH A BUNCH OF
THEM.
THEM.
THEM. AND
THEM. AND JUST FOUND BUNCHES OF
EXCLUSIONS.
EXCLUSIONS. THEY'RE BASICALLY OFFERING TO
INSURE YOU'RE HOME, BUT THEY'RE
NEVER GOING TO INSPECTIT TO
SEE WHAT'S WRONG WITH IT.
THERE ARE LOTS OF COMPLAINTS
FILED ABOUT THESE COMPANIES.
ONE PROBLEM IS THEY SEEK TO
BASICALLY NOT DO THE REPAIRS.
THAT'S ONE PROBLEM.
ANOTHER ISSUE WE HAVE, IS THE
MATH JUST DOESN'T WORK IN YOUR
FAVOR WITH THESE COMPANIES.
WE FOUND THAT FOR THE LARGEST
SUPPLIER OF THESE WARRANTIES,
THAT THEY ONLY PAY OUT 50 CENTS
FOR EVERY DOLLAR THEY TAKE IN,
IN PREMIUMS.
IN PREMIUMS. SO IT TELLS YOU RIGHT THERE,
IT'S JUST LOUSY INSURANCE.
>> KEVIN IN YOUR RESEARCH, WHAT
TYPICALLY DO PEOPLE WANT TO
MAKE A CLAIM ON?
>> ANOTHER PROBLEM, THE THINGS
YOU REALLY WANT IT TO COVER,
LIKE MAYBE HAVING YOUR BASEMENT
FLOOD OUT, THOSE AREN'T COVERED
BY THESE WARRANTIES.
MOST OF THEM DON'T COVER
REPAIRS YOU MIGHT NEED TO YOUR
ROOF.
ROOF.
ROOF. A
ROOF. A LOT OF THEM EXCLUDE THINGS
THAT MOSTLY GO WRONG, LIKE ICE
MAKERS WITH REFRIGERATORS.
THE BIGGEST PROBLEM BY FAR, AND
WHAT A LOT OF PEOPLE COMPLAIN
ABOUT IS THESE WARRANTIES, YOU
DON'T GET A CHOICE IN THE
COMPANY THAT DOES THE WORK.
THEY SEND SOMEONE OUT, YOU
DON'T GET ANY SAY.
A LOT OF COMPLAINTS ARE ABOUT
LOUSY WORKMANSHIP.
LOUSY WORKMANSHIP. WHEN HAVE YOU A PROBLEM, IT'S
UP TO YOU TO RESOLVE IT WITH
THAT COMPANY.
THAT COMPANY. >> LET'S SKIP TO TRAVEL
INSURANCE.
INSURANCE. WHAT SAY YOU?
>> ANOTHER PLAN, ANOTHER
INSURANCE PLAN THAT'S OFFERED
IS COMPLETE AND TOTAL
PROTECTION, PEACE OF MIND.
ESPECIALLY BY THE AIRLINES AND
HOTEL BOOKING SITES AND THINGS
LIKE THAT.
LIKE THAT. YOU HAVE TO CLICK NO, I DON'T
WANT TO PROTECT MY PURCHASE.
BUT WHAT THEY'RE OFFERING HAS
SO MANY DIFFERENT EXCLUSIONS,
IT REALLY RENDERS THESE PLANS
PRETTY WORTHLESS.
PRETTY WORTHLESS. IT'S INTERESTING THAT AIRLINES
ARE TELLING YOU, AND THEY EVEN
SAY ON THEIR WEBSITES PROTECT
YOURSELF FROM HIGH CANCELATIONS
POLICIES.
POLICIES.
POLICIES. THEY'RE SELLING YOU POLICIES TO
PROTECT YOU AGAINST THEIR OWN
FEES.
FEES.
FEES. THERE'S ANOTHER TYPE OF
INSURANCE, I THINK IS WORTH
CONSIDERING.
CONSIDERING. IF YOU'RE GOING ABROAD, AND
YOUR PRIVATE HEALTH INSURANCE
DOESN'T COVER YOU, AND MEDICARE
FOR SURE WOULD NOT, IT'S WORTH
CONSIDERING BUYING THESE STAND
ALONE MEDICAL PLANS.
THIS IS NOT THE INSURANCE
OFFERED BY THE HOTELS OR THE
TRAVEL BOOKING SITES OR THE
AIRLINES, BUT YOU CAN BUY THESE
PLANS ON YOUR OWN TO COVER YOU
IN CASE, BASICALLY YOU NEED TO
BE EVACUATED.
BE EVACUATED. >> WE HAD THE EXPERIENCE WITH A
CRUISE, YOU LAY OUT A LOT OF
MONEY FOR THAT.
MY FATHER WAS INJURED PRIOR TO
IT.
IT.
IT. THEY
IT. THEY GAVE BACK EVERYTHING BUT
THE COST OF THE INSURANCE, AND
IT WAS A LOT OF MONEY WE SAVED.
>> BUT WE HAVE TO BE CAREFUL,
THEY DON'T COVER PREEXISTING
CONDITIONS.
CONDITIONS. >> BUT AN INJURY THEY WILL
COVER.
COVER.
COVER. >>
COVER. >> A LOT OF TIMES THOSE PLANS,
THEY JUST DON'T MAKE SENSE
BECAUSE OF THE EXCLUSIONS.
YOU MIGHT WANT TO BUY ONE,
BECAUSE YOU'RE WORRIED ABOUT
WEATHER DELAYS, BUT THEY WON'T
COVER HURRICANES.
COVER HURRICANES. >> THERE IS A LOT TO CHEW ON
HERE.
HERE.
HERE. WE'RE GOING TO TALK ONLINE.
YOU CAN LOOK AT THESE THINGS,
AS WELL AS HOW TO SAVE MONEY ON
AIRFARES.
AIRFARES.
AIRFARES. OFFERING FREE ACCESS TO THEIR