A home warranty is a policy a homeowner pays for that covers the cost of repairing many home appliances if they break down.After all, lots of things you buy come with a warranty in case they break down, from cars to smartphones. But what about homes? It turns out you can get a home warranty plan, too.“Home warranties provide financial protection from a service provider for homeowners who might be faced with unexpected problems with their appliances,” explains Shawna Bell of Landmark Home Warranty.

Many people buy a one-year home warranty plan right when they close on a home, since such protections can provide some much-needed peace of mind that you won’t get hit with unexpected, out-of-pocket expenses soon after moving in. Imagine what a bummer it would be, after all, to wake up one morning to a broken boiler, knocking appliances, a leaking water heater, dripping plumbing, or malfunctioning fridge in your new home.

A home warranty plan can lessen those homeowner and appliance worries, which for many is worth every penny. A couple of warranty plans to consider: Choice Home Warranty and TotalProtect.

What does a traditional home warranty cover?

Don’t mistake a warranty for homeowners insurance, which covers your home’s structure and belongings in the event of a fire, storm, flood, or other accident. Home warranty companies, in comparison, will cover repairs and replacements on home systems, including electrical systems, plumbing, water heater, washer, and kitchen appliances due to normal wear and tear—no calamities required.

Home warranty companies, including Choice Home Warranty and Home Service Club, generally set up a service contract to cover the following items (you can read a sample contract to find out):

Basic home systems such as plumbing and electrical

Heating and cooling systems, including the water heater

Appliances such as the washer and dryer

Kitchen appliances such as the oven, range, built-in microwave, and garbage disposal