Take the money for the extended warranty, put it in an account, add to it each month (say $50-$100) and then when needed, YOU decide what you will pay for repairs. This way you can also pay to have things replaced BEFORE they break - and yes, often you can spot things that will be a problem latter and get them repaired ahead of time. Remember, the extended service plans (they aren't warranties) only work because most people will pay in more than the claims they file. And these outfits are notorious at being VERY picky on how claims have to be filed, etc. Read and Read and then read again any contract to make sure you realize what will be covered and what won't be covered. Especially the won't be covered portion - which is where there can be a lot of 'gotchas' such as repair isn't covered because it was caused by a belt breaking and they don't cover belts.
Barbara & David O'Keeffe
Figment II (Alpine 2002 36 MDDS)