Countrywide Insurance

Countrywide services my mortgage. Don't worry, I'm not going to default or walk away from my mortgage...

The newest solicitation I've received from them is an application to insure my 'major home appliances or systems'. This seems like a desperate grab for high-margin cash. However, does Countrywide really want people to potentially have to choose between paying their mortgage and paying their appliance insurance premiums?

For only $37.95 per month, conveniently collected with your mortgage payment, you can have the security of knowing that your broken appliance will be replaced.* Imagine... a whole new furnace costing no more than your $60 deductible.*

Here are my favorite examples of items for which the policy includes repairs and replacement:

• Garbage Disposal (This is so essential!!!)
  
• Ceiling Fan (These are $100, maybe $200?)
  
• Electrical / Heating / Plumbing Systems (All of it?!?!?)
  

My other favorite are the pictures of people who 'GAMBLED AND LOST'.

• Thought his furnace would last another year. GAMBLED AND LOST $4,208
• Thought he had the perfect oven. GAMBLED AND LOST $1,486
• Thought their freezer would star frosty. GAMBLED AND LOST $1,023

Yes, instead of gambling and losing, you can ensure a $480+ loss each year plus your deductible each time something happens to break. I'll take two! Maybe they just want to suck as much money away from their customers before they walk away or default on their mortgage?

* This represents the best case scenario. You will probably get hosed for much more.