Not all home warranties are created equal, just like any other insurance type product. So be sure you select the features you want and need taking into consideration any additional features that your home may have that could generate costly repairs such as a swimming pool, underground sprinkler system, septic system, or water well. Most home warranty policies have to have these features added specifically to their plans to get coverage.
Home warranties cover mechanical breakdown issues that a traditional homeowner's policy will not. So having a home warranty can save some costly and unanticipated repair bills when you least expect them. Water heaters like to go out on holidays and weekends so best to be well prepared.
With the cost of a new home and all that goes with it, an unexpected home expense can create a real budget crunch so best to avoid the possibility as much as possible.
Rates will depend on size of your home, location, coverage options selected, service call fee selected, and by company. So do your homework and eliminate those nasty surprises like a heating system going out in the middle of winter, or an air-conditioning system going on the blink in the middle of summer. Not all events can be totally eliminated but at least you can be financially prepared to address them quickly with one call for a service technician, you won't have to wait until you have the cash to handle a big repair or replacement bill if your equipment can't be repaired.
So - shop around, make sure you get the coverage you need, get it started as soon as possible since there may be a waiting period for coverage to commence - and sit back and enjoy home ownership with a few less worries.