I'd say that it is great for any company trying to make baseline income but AHS and that 2-10 home warranty company is notorious for excluding what normal occurrences are.
I used to work for a company that did all American Home Shield. I can't sit and trade phone calls back and forth to the company in the customer's home for like seems an eternity and catch what falls through the cracks.
It might make a buck but I love my customer base and it keeps growing all based on repeat business and word of mouth. Of course I keep my internet ties and other methods running as well but I don't need another company orchestrating my calls. AHS will make you think you have no life other than their customer base.....and you can't say no to thier customers; you have to "do em all" or you don't get the gravy.
If you have a company with numerous employees then it is worth it if you have patience to deal with it all. I'm running solo so I can't be committed to one avenue of customers. I have to keep that repeat customer happy for as long as I can.
AHS makes their rounds through the companies here in my area; all the plumbers walk away from them eventually with hair loss, having to take prozac.