Howie I looked into extended third party warranties when I bought my bike and they were all a bunch of BS. There are so many clauses and exceptions and specifications to actually receive a claim, you need a lawer just to understand them. As mentioned above you are better off just banking the money you would waste on a warranty, and use it for repairs. Looking back now I am glad I didn't waste the money the warranty company wanted. I have broke a starter, fried and voltage regulator, and had a minor electrical problem with the circuit board in the throttle housing, but even the repairs for those issues has been way less than the warranty would have cost.
In my opinion, third party warranties are a rip off, why else would they be in business of selling you one. :2thumbs: