Private insurance, which protects a buyer against defects such as plumbing, heating, and electrical systems in the property he/she is purchasing. The period and coverage of the insurance varies widely, and both new and existing home may be insured (many times when a home is being sold a buyer may purchase (or a seller may purchase for the buyer) a one year home warranty. This warranty protects the parties if something in the house fails and generally costs anywhere from $300 - $450). Consult your realtor for specific warranties offered in your area.
from builder of new home to protect against faulty materials, workmanship; on used home, first year protection against unexpected major repair expense, breakdowns.