Just about everything you buy comes with some kind of warranty, and that could include your house. Are home warranties worth the money?

It's nice to know that when you're buying something expensive, you're going to get some kind of warranty. That's true for cars, and increasingly true for houses as well.

While home warrantees are normally associated with houses being sold, there's nothing that prevents you from buying one any time. These warranties pick up where homeowners insurance leaves off, covering things like major appliances, your furnace, air conditioning, or plumbing.

There are lots of companies offering home warranties, including HMS, American Home Shield, Home Protection One and 2-10 Warranty. Your local realtor or insurance agent could also probably hook you up.

You're typically going to pay about $355 to $400 per year for this coverage, plus a $50-$100 service fee every time someone comes out. Worth it? Maybe, if you live in an older home with aging mechanical systems and appliances. But keep in mind that some of the stuff that's most prone to breaking, like garage doors and openers, may not be covered.

Bottom line? If you're buying a house, and the seller's paying for the warranty, that's a no-brainer. If the seller is not offering a home warranty or won't agree to pay for one, the buyer can opt to pay for a home warranty at closing. If you're thinking about picking up a warranty yourself, read the fine print, and compare warranties from various companies.

2-10 Home Buyers Warranty