Homeowners of the OT: Home warranties

I just recently purchased my first home. It’s definitely a starter home but I’m very satisfied with it and excited to make it my own. It was built in 1950 so it’s an older house.

I’ve heard mixed reviews on home warranties. On one hand, I’ve heard that it’s a waste of time/the service is terrible and that I’d be better off just having an emergency rainy day fund. On the other, I’ve heard that it’s a reassuring thing to have, and that it’s saved people a lot of money.

Any advice from you old baws/Bawette’s who have been around the block a time or two would be greatly appreciated