My wife and I renewed our home warranty several times. Sometimes it paid off (new water heater) but most of the time it didn’t. We will not be renewing after this year. We recently had some issues that were not covered by our policy that in my mind should have been. The plumber that was sent out also told us that most claims are limited to $1000 to $1500. So if your $7000 air conditioner fails and needs to be replaced the warranty will only cover the first $1000. At $450 a year for the coverage the math didn’t work out.
TL/DR: Check your policy limits. If they will only pay $1000 per claim/event don’t renew.