According to DaveG :

The reason warranties like this are offered to the public is because they
turn a profit for the seller.
That means that in the long run, they don't pay off. Add up the cost of
this warranty, add in any deductibles you have to pay before they pay, look
at any upper limits on repairs, and you may find out that all you are doing
is pre paying for your first couple repairs. And if you never need the
warranty, you're just flushing money down the john.

Extended warrantees are like life insurance policies:

You're betting the insurance company that you'll die before they
think you will.

From a broader perspective, they're only useful if you have inside
knowledge that you _will_ die before they think you will ;-)
--
Chris Lewis, Una confibula non set est
It's not just anyone who gets a Starship Cruiser class named after them.