Are extended warrenties for cars EVER worth it?

[Rico Trump]

I just signed up for one since my car is getting closer to 100,000 miles. The agreement with all the terms came yesterday, and as I read through it I found what I believed were too many loop holes for the company to AVOID covering certain repairs.

The total cost of the policy is $2,400 for 5 years of coverage. There is a $100 deductible I have to pay upfront for all repairs. I have to get approval before I can file a claim.

The company refuses to cover repairs over $4,000 dollars and requires proof of regular recommended maintenance. Most body issues like brakes, rotters, tires, mufflers, head and brake lights, etc. are NOT covered.

Preventative maintenance is not covered either. Something has to break before it can be covered.

I'm thinking its not worth it. Too many loop holes for the company to wiesel out of covering a claim in my opinion.