The average contract length for home warranty coverage is one year; however, some warranty companies prefer month-to-month. After contracts expire, most home warranty companies allow you to renew your warranty plan if you want. Especially with companies that require a one-year contract, it is important to be absolutely sure about your decision before signing the contract. Look through the contract details, research the company, and check out the best home warranty companies before being locked into a contract and finalizing your decision. Be aware of the company’s cancellation policies — many companies offer a 30-day money back guarantee if you want to cancel their services.