In a nutshell, while sounding comprehensive, the warranty actually covers very little.  Not only that, but the total payout is limited to the NADA listed value of your vehicle, which is very likely to be far below the nearly $3,000 cost of the warranty plan.

Some interesting highlights:

The T.A., or “the Take Away”: The rep will offer to make an exception to get you in to a plan that you’re told you don’t qualify for.  For instance, if your car’s mileage is 169,000, she will say, “We have a special plan for vehicles under 160,000, since you’re so close, let me ask my supervisor if we can make an exception.”  They use this tactic on everyone that calls.  In reality, there is no special plan – they change the numbers and always tell you that you’re “just over” the limit.   When they make an exception for you, you feel like you’re getting a deal.

The warranty plan only covers damage caused by the failure of “Internally Lubricated Parts” - Guess what? These parts almost never fail.

The warranty is limited to $6,500 or the N.A.D.A. value of your car - Chances are, the warranty plan cost more than your car is worth.

All in all, an enlightening read.  Read the whole thing here.