Bought a living room couch in the Fall of 2013. The salesperson said that I should get the "5 Year Comprehensive Coverage Plan" for it. The insurer (Warrantech) would replace the furniture for rips, stains, etc. That was the 1st lie. In reading the fine print of the coverage plan (which I got only weeks after I bought the furniture) it says: "If you cannot correct the damage using products provided by Us and/or procedures.." In other words, you have to try to fix it yourself first. So you as a paying consumer will have to fix the furniture with whatever method(s) they deem appropriate. Well, what if you are not great at fixing furniture? What if you have never worked on furniture before? What if you cannot work on furniture for whatever reason (physical/time) limitations? And there's no guarantee that you will get the same furniture as a replacement. They don't tell you that at the store do they? They want to sell these "plans" to the uneducated consumer to fill up their pockets from whatever commission they get.
Anyways, I called and canceled the coverage plan. They said I would get a refund shortly. 2nd lie. Fast forward 2 months later & 4 telephone calls, no refund - no money. What a complete scam. The last call, the customer rep said, "Let me talk to my supervisor." Came back, and told me to call back in a few days since they couldn't figure out what was happening. Really..? You cannot figure out a simple refund status on a canceled plan? What kind of business are you running? Smells more rotten than spoiled sardines lying on a New York tenement street.
I will file a formal complaint with the Better Business Bureau and whatever state these guys operate in. Probably also file a small claims in court. Last time I buy insurance for anything other than my car/house. Lesson learned. I've been patient but they messed right the wrong person. $250 is pennies for me but if there's one thing I cannot stand if FRAUD! This is what Warrantech is all the way through..!
- Pissed off consumer
Monetary Loss: $250.