termite inspection contract?

Just bought a wooden house this March. Yesterday a termite company agent went to our house and told us that the termite inspection contract on our house is expiring. He asked whether we want to renew the yearly contract for 5.

What the contract can provide us is the following FREE service:
1. a mandatory termite inspection by the company in the year,
2. if termite spotted anytime, the company is responsible for exterminating them.

I know termite is disaster for wooden houses, but as a new homeowner, I'm not sure whether renewing the contract with this company is the right way to prevent it. Any suggestions are appreciated.

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