A long time ago a mechanic told me something that I've come to believe. The engines and transmissions in most vehicles these days are pretty reliable. It's all the add-ons that will cost you money - AC units, alternators, electronic fuel injection systems, turbos, in-cab electronics, etc. So first I would ask what you mean by 'major components'.
Remember that down here in Florida, the AC on that truck was probably running for most, if not all, of those miles shown on the odometer. How much does an AC compressor cost these days ? Just a thought.
I know nothing about the warranty company in question and have never bought an extended warranty until I purchased my current vehicle. I bought the extended Ford factory warranty that cover EVERYTHING for 7 years or 120,000 miles. I treat this purchase the same way I do as buying home insurance or car insurance - I may never need it but the small amortized cost per mile is worth the peace of mind. And before anyone starts bashing Fords, I will just state that if I had an extended warranty when the turbo failed on my Duramax at 5000 miles outside the factory warranty, then I would not have had to pay $3500 to replace it. I see these extended warranties as insurance. Sometimes you need and use them and sometimes you don't.
These modern trucks are just so complex and so expensive to repair compared to anything I drove in the 60's/70's. Back then all you saw was a carb on top of the block and an alternator hanging off the engine. And I'm old enough to remember that many (most ?) vehicles came with no AC - it was an option, or just not available at all.
I would always much prefer to buy a factory extended warranty just because it will be accepted with no questions.
Tim B.
