If you’re in the market for a new home, you might consider a home warranty. The program can help save you from a big expense if something breaks down in your home. But it’s not always a failsafe.

Allegra Rojek and her husband got a home warranty not long after buying her 1925 bungalow style home in Tampa.

“Since it is such an old house, we wanted to make sure all our bases were covered,” Rojek said.

Warranties vary from company to company, but generally they should cover built-in appliances like the dishwasher, stove and microwave. It should also extend to plumbing, the water heater and ceiling fans.

An average policy costs about $300 to $600 a year. But expect to pay extra to cover expensive items like air conditioning or the roof.

Real estate agent Vince Arcuri says home warranties offer peace of mind but warns to remember the restrictions.

“They’re going to continue to put Band-Aids on it and continue to make minor repairs, and unless they absolutely have to replace something, they don’t,” Arcuri said.

It happened to the Rojeks. Their home warranty company paid to fix their broken washer twice. But then their luck ran out.

“Third time it broke, they did not fix it,” Rojek said. “They said the belts were not included.”

Same thing happened with their air conditioner. The company covered simple fixes, but the couple ended up paying to replace the unit in the end. Your best defense is to read the fine print.

“Apparently there’s different clauses in the warranty that said, ‘We’ll pay for this, but we won’t pay for this,’” Rojek said.

Home warranties vary from company to company, so it’s very important to compare policies. Here is a general look at what is often covered. But again, each policy can have restrictions added, even if something is covered.

Typical list of what a basic Home Warranty covers:

  • Heating system
  • Electrical system
  • Plumbing system
  • Water heater
  • Whirlpool bathtub
  • Oven/Range/Stove
  • Cooktop
  • Dishwasher
  • Garbage disposal
  • Built in Microwave
  • Ductwork
  • Garage Door Opener
  • Ceiling Fans

Typically Not covered:

  • Air Conditioning System
  • Clothes Washer
  • Clothes Drier
  • Refrigerator
  • Pool
  • Pool pump
  • Roof