After 9.5 years of driving and 54,000 miles on the road, my Toyota has incurred $68 to fix a broken heat shield and $42 for new serpentine belt. All the rest was regular maintenance which would not be covered by a repair policy.
So spending $1000+ to get $110 back seems bad economics.
Similarly, I kept track of all the “warranties” I was offered with appliances and electronics. Of 11 items bought, the total cost of those “warranties” would have been $1100. The ACTUAL repairs incurred outside the standard warranties was $110!!! So 10 cents on the dollar return once more!