A home warranty can also benefit home sellers (if they don't have it already), since it can cover these elements during the listing period; some companies even offer free seller’s coverage during this time with the hopes that the buyer will decide to continue the coverage. In some cases, home sellers will offer to pay for the first year of a buyer's home warranty.

Home warranties come in different levels of coverage and cost. They typically have three tiers with the lowest tier covering one item and higher tiers covering and costing more. Home warranties can cost from $200-$700 a year with co-pays generally $75.

If you decide to purchase a home warranty, know what is covered and not covered. Does it cover pre-existing conditions? Does it cover the refrigerator and the ice maker? Does it cover the furnace and the whole-house humidifier? If a covered item stops working because of a system that is not covered in the warranty then you could be responsible for the service call. The warranty company will usually try to help you troubleshoot the problem before sending out a service call.  An example would be if the heating and air conditioning (HVAC) did not operate because the battery in the thermostat was dead. In this example, even though the warranty covers the HVAC, the warranty may not pay for a service call due to a dead battery. I have highlighted these examples because they may be in the small print of a warranty. Its up to you to do your do diligence and read your contract completely. Know what you are getting for your money before you sign on the dotted line. 

Another approach to consider is self-insuring for unexpected home repairs. Consumer Reports recommends home owners first try to place savings in an account for maintenance of the house. This means doing it the old fashion way by saving up for expenses.  If anticipated future maintenance are $500.00 per year, then the homeowner would set money aside for that purpose. 

However you decide to handle maintenance on your home, it's important to consider all your options when putting a plan in place. When purchasing a home warranty be sure you do your homework and read the contract thoroughly. 

Here is a link to an article on home warranties:
https://www.consumerreports.org/extended-warranties/what-to-know-about-buying-home-warranty/