Growing up, we never changed them and they were the cheap rubber ones. Outlasted the washer. The plumbers I talked since I bought my own house have warned me to replace them every year.
If they let go and it it's unnoticed, it could cause a tremendous amount of damage depending on where the water ends up going.
Never actually heard of one failing on a washer in my circle, but out of the 3 hose failures on my cars, 2 of them were hoses that were barely 2 weeks old... So, I'm a bit concerned about any new hose too!