In this day and age of (of madness) spare part prices, costs a replacement engine of a 400 Euro 250 Euro washing machine, directions and wages not counting times quickly.
So quickly results in a more economical total loss.
Any excess of the cost of repairs to the value of the machine, then the insurance company may choose one of the compensation value (according to conditions).
I got in the 3rd year of my broken washer for a comparable "GarantiePlus insurance" 80% of the purchase price refunded.
On 1st moment that was very annoying as I, as already mentioned, also assumed am that I can incubate for 5 years, "carefree", and during this time my machine is repaired always free.
But I have then considered from the perspective; where can I get for a washing machine that a new price of 500, - Euro had, after 2.5 years still 400, - Euro?
Exactly - nowhere, certainly not for a defective!
So I see the cost of the "extended warranty" thus quite as sensible investment - I think it's worth it!