I'm playing both sides of this question,

but here's another way to look at purchasing extended warranties.
For a long time, every time I buy anything which offers an extended warranty to purchase, I decline, and mentally put that much cash in my "Fix it" account.
Since on the average, those purchased warranties are priced to make the seller money, After many years doing this, and very few actual failures which would have been covered I now have a HUGE positive balance in that "Fix it" account.