I'd be inclined to say no to the coverage, but if you get subterranean termites you'll probably think otherwise. I always figured these fantastically touted warranties, were only as good as the warranter, and when needed were actually squat... Any loopholes, weasel words stick out on the contract like a certain grade must be maintained, soil type, etc? What kind of foundation do you have? What did the company use for pre-treatment? About all you will ever see with a slab are 'mud tubes' on the visible concrete, but if you have any cracks inside, they can and will find wood framing, sills, etc. If in a crawlspace, they can start a tube from the center, and go up until they find food. This takes a very long time, but can happen.
Moisture issues are a huge incentive for termites, so keep the grade proper along your home, NO WOOD MULCH, check for water pipe leaks, keep sprinklers away, etc. Years ago Chlordane was the double gold standard for treatment, but it has been long banned. Bayer Premise works OK, but the new gold standard is Termidor. Bait stations sure will get them in, but in my experience, I like the chemical barrier much better. Good luck.