How do you do at the Blackjack table?
Extended warranties are like going to the blackjack table in Las Vegas. They are a gamble but the odds are the best in the house. Remember though, the house still comes out ahead long term.
As far as I'm concerned, you can't make a broad general statement on extended warranties. Every one is different, every one has different terms & different costs. If you decide to buy one, be sure you know what you are buying. Read the small print. Best Buys ripped me off on an extended warranty by using small print on the back of the sales slip to dishonor their warranty on a 1 day old computer. Gareway on the other hand replaced my old laptop 3 days before the 4th year of a 4 year extended warranty expired & they told me that I still had 3 days on my warranty when I thought it had expired.
I bought a 60" TV, bought the extended warranty for several hundred dollars & never used it. I now have a chance to renew it but even though the TV is 4 years older, I won't renew because I can replace the TV for about half of what I paid when I purchased it so the warranty is no longer cost effective.
My approach to extended warranties is to study every situation carefully before I decide whether or not to buy one.