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I look at warranties the same way I look at insurance policies. The company issuing the policy is there to make a profit. They have a whole bunch of really smart people that figure out how much they have to charge so that the odds are in their favor of making a profit. In other words, they anticipate spending much less in repairs on your car that the amount of the premium they are charging.
That says to me that the odds of me benefitting from buying the policy are slim to none, and so I usually opt to sef-insure. The only exceptions I make to that are the fire insurance on my house and collision/liability insurance on my cars. and really, I don't have a choice about either of those as the mortgage company insists on the fire insurance and we cannot legally drive without auto insurance where I live.
A similar scenario was when I operated a service van and looked at insuring the tools and materials in it. I found that if I went 4 years without a loss I would be ahead of the game if I had to replace everything after that. It was a bit of a gamble but it paid off and I saved about $6000 over the seven years I did that job.
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