I have flat STOPPED paying for all extended warranties. I only had one that ever paid off. However, when I combine that experience with all of the cars, atvs, motorcycles, phones, TV's, and other electronics, etc they just haven't panned out.
Moving forward I've decided to take "would have been" premiums and just pay for repairs or replacement.
Also, as stated by others, It seems like the warranty companies find every little loop-hole to get out of paying AND they are masters at finding exceptions.
I'm guessing there's a reason that these are profit centers!