Probably not if you’re an FPV racer. But if you tend to fly at higher altitudes, for inspections or for aerial photography shots, you might want to consider one to cut down the damage in an emergency situation.
This video shows some test runs of parachute deployments for hexacopters.
In the later part of the video, it shows the parachute deploying from the bottom of the drone rather than the top. While you might expect the drone would fall into the chute and prevent it from opening, it actually doesn’t. The bottom deployment is designed to intentionally keep the rotors from getting tangled in the parachute strings and really mucking up the opening during descent.