These policies can be purchased by anyone at anytime, but they are especially useful when you are buying a home from another person rather than buying a brand new place. A lot of sellers will include a one year home warranty as part of their incentive. This protects the seller and the buyer. Should any appliance break down, it will be repaired or replaces as needed within the terms of the policy.
This protects the buyer from unknowingly buying a home that has an a/c unit on the brink of blowing, and it protects the seller from being blamed for knowingly selling a home in imminent need of repair. For about four hundred dollars a year, you can keep a home warranty on all you major home appliances. As insurance goes, some years you may not use the policy at all, but when the time comes that a several thousand dollar air conditioning repair bill appears, a home warranty will be praised.
Individually on appliances, you can buy a similar policy. This is called a service contract. It is sort of like when you have a service contract with an exterminator or lawn care company. They come in planned periodic increments to maintain their work; this kind of policy would not be a bad purchase to help avoid major lump sum air conditioner repair costs.
Company Resource: Ground Source Heat Pump, Industrial Air Conditioner, Air Source Heat Pump
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