For service contracts the Ford Premium Care is an excellent plan for the price. I have seen many powertrain only contracts for $1800 or more but this is a comprehensive plan.
I perform many service contract repairs, we don’t reject or deny claims frequently like others that commented here.
Some vehicle owners make frequent use of their service contract, they bring their vehicle in for every noise or inconvenience while others just accept the failing of a component as old age.
I’d rather keep the $1800 in the bank. IMHO giving it to someone else in case I need a repair is downright foolhearty.
I’m sure there are happy Ford service contract buyers. Say 10% get their money back on repairs. That’s a lot of people, but it doesn’t mean it’s a good deal to the 90% that don’t get their money back. My guideline is “insure for what you can’t afford, pay for everything else yourself”. If I’m buying a car I can’t afford to fix, I’m buying a car that’s too expensive for me.
If I’m buying a car I can’t afford to fix, I’m buying a car that’s too expensive for me
Yeah, unfortunately, there are a lot of people who couldn’t (or won’t) be able to save for that rainy day regardless of how inexpensive the initial cost of the car might be. They’re stretched or fiscally challenged in some way 
Like any insurance, not everyone can or will benefit otherwise it would be exorbitantly expensive for everyone. There have to be “winners” and “losers”. And as long as the loser outweigh the winners by some small margin, it’s a good business for the insurer. All the better if it’s 90/10 as you surmised.
I’ve been lucky and recouped $6500 in repairs for my 02 Toyota Tundra when I only paid $1000 for the Platinum plan. A large part of that was chasing down a wheel vibration and the replacement of parts under a TSB as well as parts that were damaged as part of fixing something else the tech never performed. (i.e. replacement of a $15 rubber bellow on the intermediate shaft resulted in both the intermediate shaft being replaced and a new steering rack since it leaked immediately after the work was done)
Only downside was paying a few hundred in diagnostic fees when they didn’t lead to the directly culprit of a problem.