• Home warranties sometimes cover plumbing issues.plumbing image by Inger Anne Hulb?|kdal from Fotolia.com
  
  

You Should Renew

• You should renew your home buyer's warranty. These warranties cover the costs of major household repairs that your homeowner's insurance will not cover. As of 2010, repairs to plumbing, electric systems, air conditioning units and furnaces can run several thousand dollars, while the warranty itself is usually $600 or less.
  
  

Use Caution

• You should not renew your home buyer's warranty if you are not going to do your homework about the company. Often, the real estate agent purchased the initial policy from the cheapest company. If you want to keep a warranty, research the most reputable company in your area. Find one with the best reviews for service times and claim fulfillment.
  
  

Bottom Line

• Home buyer's warranties are helpful, and you should renew yours, especially if your home is not a new build. Research the company thoroughly, however, before renewing the policy. Make sure the policy covers the oldest systems in your house, and read the contract before signing anything.