Michael Petruccelli says; After you have made your down payment, covered your closing costs, paid for your move, and all the incidental expenses associated with a new, the last thing you need is a costly repair. The Home Service Agreement protects you against repair or replacement expenses for covered appliance and systems during the first year you own your home. Protect against unexpected repair costs. One-year of repair or replacement-just a phone call away. Renewable where allowed by law. Money-back guarantee.