Extended warrantee, worth it?

When I bought my GRiSO in August, the sales critter waved a folder at me for an extended warrantee. After telling me what a great bike the GRiSO is he then switched gears and said in a low voice "you should get this, it IS an Italian bike you know..."
I was pretty much wrung dry financially at that point so I said I would think about it. They gave me a copy of the contract and it had a lot of exceptions for things that wear out and things that are attached to things that wear out and levels of coverage and tinkering with your bike. It looked like a thicket of exceptions + it was $900 They really push this and would give easy payments, leads me to suspect its a cash cow for them.

HOWEVER, I was thinking what it would cost to replace the speedo.. probably about $900 and it was 5 years of coverage..

Anyone here buy this coverage and cash in on it? Or should I buy a used speedo and a few other parts for the possible rainy day?

One of the most absurd and worthless scams known to man. Run away.

Pete

OK When I see used parts at good prices I will stockpile em. I did that with my Buell, when it got totaled I sold the parts at a profit.

Two things put me off: the bike has to be 'professionally' serviced (i.e. you can't do it yourself), and lots of stuff isn't covered. I specifically asked about the ECU - not covered. This was with 'Warranty Direct', probably the biggest firm in the business.

My Experience;
Tried to get involved with local extended warranty firm to cover towing for their clients, best they would offer was to include my details in their warranty booklet, for an annual fee of $200. When I asked how many policies sell and claims are settled per annum, they answered 750 policies and 11 claims for the previous 12 months.

The first $200 you pay is the cash bonus for the salesman. At that point in time the policies were $700, so our entrepreneur was making $375,000 pa. minus a dozen claims that may have totalled less than 20k.

Most of my towing is for flat tyres and flat batteries, neither of which are covered. Best advice for Aussies, spend $100 on Swann "Tyre & Rim" insurance.

As a point of reference, we have a great dealership here in Seattle. Moto International, arguably the best dealer in the whole United States for both sales and service.

They don't sell extended warranties.