There were no backroom deals, I sought out the ESP through Grainger. It is definitely 'peace of mind' at $2300.
There is a problem with your analogy to car insurance. First, car insurance is required by law. Second, unlike an extended warranty, even if you are a safe driver, a car accident is sometimes unavoidable. I hit a deer two years ago and it was 12k in damages. A well maintained vehicle mitigates the likelihood of needing repairs. And before you say it, of course even a well cared for car could have issues. If the statistic I found was accurate, 90% of people who purchase an extended warranty, never use it. And then, as in your case, the work would have to exceed $2,300 to break even. I have never in my life had a repair that cost that much. Back to my original statement, I have had 17 new vehicles in my life and I have never purchased nor needed an extended warranty. At $2,300 a pop, that is over $39,000! If I live to 100 I have won the extended warranty game!
