I think you are confusing a homeowners insurance policy with a home warranty. There are home warranty companies that, for a yearly fee of about $450, will cover most of what can break in a house in the following way: When something breaks, such as a ceiling fan, call the company (or go online), report the problem, and you'll soon get a phone call from a local repair company. When they come out, no matter what the actual cost of the repair is, you pay a flat rate (usually $50 or so). Some companies charge a bit extra on their yearly rate to add washer/dryer repairs; I think air conditioning is standard, but check. I've found a home warranty to be invaluable and well worth the money; some people find that their company denies too many repairs. Shop around and check your contract carefully to make sure what repairs are covered. FYI, no one comes out to look at your house before they give you a contract; you simply have to pay the fee.