As far a needing a warranty, comedian Flip Wilson said it best....."you are betting that something bad is going to happen, while the insurance company is betting it will not......"
There are several companiesâ€™ that provide these including but not limited to AHS, Fidelity, and others. As far as you "needing one", that is an opinion based question. It is like most insurance or extended warranties; you are paying a year due to cover yourself. If you never have a problem, you "wasted" the premium; in some instances you may have a problem (new AC unit) that makes the premium make sense. Normally I ask for it for the buyers I work for, as they are usually putting a lot down to obtain the loan and financially can't take any unplanned repairs. After the first year, the home buyer (then the home owner) can determine if the wish to continue coverage on their own dime.
Most people are surprised to find out, a home owner can order one at any time, not "only" when they first purchase the home.
Hope this helps, and best of luck.
Whether you need one or not is based solely upon whether you have total responsibility for the care and well-being of all the appliances and services in the home you are leasing. If you do, a home warranty can be very beneficial; I myself have utilized two different companies and in two years and was very glad I did. I have not had coverage in the last two years and luckily, did not need it.
They generally vary from $400-600/annually. If the oven dies, is it your landlord's responsibility? How about the heating system?
I have used two different companies and utilized services of both that made sense for my home. I am a homeowner.