Home Warranty and CapEx Budget

[Andy Lesko]

If I have a home warranty on a SFH rental, should I still budget each month for CapEx? For example, I pay $500 a year for warranty plus $60 for each service call. I choose to budget $100 for this expense ($40/month warranty plus $60/month on service calls).

Should I still be budgeting for CapEx, as the warranty will cover repairs (covers HVAC, plumbing, electrical, appliances, etc)?

Thanks!