I purchased the 3 year plan, with an extended warranty I beleive they take care of you a little better.
I went back once after buying mine to have a new fuel guage installed.
Now I think once you drive away from the dealer that normally wouldn't be covered but I had no problem getting it replaced.
Someone in the showroom or wherever twisted the guage thinking it was a gas cap and it would pop out while cleaning it.
There are those break downs that could catch you by surprise and that's when it helps to have the coverage.
It's a gamble. I didn't want to spend too much so just went with a 3 year but I plan to have the bike longer.
An ounce of prevention is worth a pound of cure and I maintaine my bike miticulously. I go over every critical bolt torque. adjust the fallaway,
adjust clutch, lube cables,change my fluids with the absolute best oil money can buy. Constantly checking and rechecking it over.
Tighten battery cables,remove, clean relays and fuses and reassemble using dielectric grease.
You have to try and stay ahead of the potential problems.
I ride my bike hard but go easy on the clutch and shifts hoping to get a long haul out of it.