Be careful you understand what is covered, who can do the work, preapproval requirements and how service shops are paid.
Then, make sure "your" shop accepts the coverage.
I have not found the price to be worth it for an extended third-party warranty once I looked at those details.
But only you can decide knowing the used trailer like you do.
DW, 3 Kids and our Goldens
2012 Shamrock 233S
2008 Toyota Sequoia 5.7L 4WD