Twice in my life, of all the extended warranties I've purchased, they paid off.
Nearly two years into my MacBook Pro, a couple keys popped off the keyboard. The Apple store kept it for a few days and replaced the keyboard assembly. $287 repair cost me nothing.
When I bought a Zumo for my motorcycle, I got a 450 on clearance as they were being discontinued. I paid for the protection plan since it was only $29.95. Very good money spent! Nearly 2 months before the 3 year period expired, one of the rubber buttons came off. Sent it in and they could not fix it, or replace it because the 450's were long gone. They sent me a brand new 550, (upgrade) model with XM/Sirius, spoken street names, Bluetooth, new maps.....FREE!
Only you can decide if the gamble is worth it. You might get a serious return on investment... It might just be money spent for peace of mind.
iPad Air 32Gb Wi-Fi; 17" MacBook Pro; 24" iMac; iPhone 4; iPod Nano 6th Gen; iPod Shuffle; Apple TV 2