The best part of having an extended warranty is not ever having to use it.
The extended warranty is used only after the OEM warranty has expired. I got a quote from GS and was quoted $$$ for a 7 year warranty. I went back and asked for a 4 year warranty with the option to renew. Much less money.
Check them out and decide for your self if an extended warranty is right for you. You could take 5 grand, stuff it in an envelope and print on the outside, extended warranty.