We have bought them. Best case scenario is that we throw our money away.
Are they the best financial deal? Not by any means statistically speaking. Why do we buy them? Peace of mind. We can enjoy our trips much better. I'm not a mechanic, nor do I pretend to be. I hire mechanics to fix my vehicles, just like I hire plumbers and electricians. First of all, I don't want to waste my time with stuff like that. And I know it will properly done. There is so much other stuff that I would rather be doing. Secondly, I can afford to do it. If the time comes that I can't, then I will either learn to do some things to keep doing it or I will stop. Another thought is that if something happens to me tomorrow, I want my wife to carry on and do the stuff she loves. I don't want her to worry about if something breaks. I want her to be protected. At almost 45 yrs old, I hope that day doesn't happen any time soon. But I just lost one of my subordinates from work. He was 43 yrs old and died of a heart attack while sleeping. He was in good shape and was a total suprise to all. So it can happen when you least expect. Life is too short. Do what you can and be prepared.