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My recommendation is to take that $2000-$3500 that you would pay for a policy and self-insure yourself. Although the extended warranty may provide you peace of mind that your repair costs will be covered if something happens, more than likely, you won't recoup the cost of what you paid for the policy.
Since 2004, I have bought several policies with Warranty Direct. One on a Toyota Avalon. One on a Lexus SC430. And one on a 2007 Boxster S. Never filed a claim on the Toyota and the Lexus (policies are now expired - still have the cars and they are still running like new).
Recently filed a claim for the Boxster. $1500 repair bill. Warranty Direct only paid $800. Porsche dealership repair charges are much higher than the industry average, and Warranty Direct only pays industry averages (I guess that is fair).
Bottom line: I paid approximately $6000 for the three extended warranties and recouped $800. Does an extended warranty provide peace of mind? Yes. Could there have been a major failure where the warranty would have paid for itself? Yes. Will I buy an extended warranty again? NO! I will self-insure myself.
With your 2001 Boxster Boxster only worth maybe $10k-$15k, I sure wouldn't spend $2000-$3500 to buy an warranty package. Just my .02c.
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