3rd Party Extended Warranties... Worth it?

[Knightwulf]

I wasn't entirely certain where to put this, so I'll just drop it here... If it needs to be moved, feel free to do so.

I'm currently in the process of closing on my '97. During this, I was offered a 24 month/24,000 mile warranty through Old Republic Insured Automotive Services, Inc. (Link).

For about a grand for the Silver Plus, they claim to cover the following with a $100.00 deductible ($50.00 if I pay another $100.00 at the outset):

The Silver Plus Protection Plan

The Silver Plus Plan is our most comprehensive named component program. Coverage is extended to your vehicle's drivetrain components and the extensive list of parts named below of your vehicle's mechanical and electrical systems.



ENGINE:
All internal parts; manifolds; timing gears, chain or belt; flex plate; oil pump; water pump; fuel delivery pump; throttle body; throttle cable/linkage; fuel lines and fuel regulators; camshaft and crankshaft position sensors; knock sensors; manifold pressure sensors; EGR valve; temperature sensors; thermostat; electric cooling fan motors; fan clutch and pulleys; belt tensioner; coolant recovery tank; radiator and mounts; engine mounts; harmonic balancer; turbocharger/supercharger housings and internal parts; wastegate; bypass valve; actuators and sensors. The engine block and heads, valve covers, timing cover, and oil pan are covered only if damaged by the failure of an internal part.

TRANSMISSION:
((Automatic or Manual) All internal parts; torque converter; transmission pan; transmission mounts; vacuum modulator; shift linkage; electronic shift control module; sensors and switches; auxiliary cooler. The transmission case is covered only if damaged by the failure of an internal part.

TRANSFER CASE:
All internal parts; transfer case mounts; shift linkage; electronic shift control module; sensors and switches; all wheel drive engagement module and actuator. The transfer case is covered only if damaged by the failure of an internal part.

DRIVE AXLE:
(Front / Rear Wheel Drive) All internal parts; axle shafts; constant velocity joints (except any damage to the constant velocity joint due to the failure of the sealing boot is not covered); universal joints; propeller shafts; center support bearings; axle bearings; hubs and hub bearings; locking rings. The drive axle case is covered only if damaged by the failure of an internal part.

STEERING:
Gear housing, rack and pinion, internal steering rack seals, and all internal components; power steering pump and pump seal; power steering lines/hoses; tilt wheel mechanism; steering linkage; tie rod ends; pitman arms, center link; steering dampener; steering column shafts, joints and couplings.

SUSPENSION:
(Front and Rear) Upper and lower control arms; control arm shafts and bushings; control arm linkage; ball joints; torsion bars and bushings; steering knuckles / spindles; stabilizer shaft linkage and bushings; wheel bearings; springs; MacPherson strut upper mount/bearing plate (strut shock absorber function is not covered).

AIR CONDITIONING:
Compressor; clutch and pulley; condenser; evaporator; receiver-drier; refrigerant valves; accumulator; idler pulley and bearings; orifice tube; temperature control panel and module; heater control valve and heater core.

BRAKES:
Master cylinder and seals; wheel cylinders and seals; disc brake calipers; power brake booster; hydraulic brake lines, fittings and valves; parking brake linkage and cables; anti-lock brake system: electronic control unit, wheel / speed sensor(s), valve(s), hydraulic unit, accumulator, modulator, and actuator(s); linkage and hardware (backing plates, caliper mounting pins, etc.).

ELECTRICAL:
Alternator; starter motor; starter solenoid; starter drive; alternator voltage regulator; power window motor; power seat motor; wiper motors; distributor; manually operated switches; coil; horn relay; electronic ignition module; rear window defroster (except for physical damage); rear window heating relay; power door lock and actuator; convertible top motor; power antenna motor and mast drive cable; electronic fuel injection sensors, control unit and injectors; electronic transmission control module; gauges; stereo or audio equipment; cruise control components; sunroof motor; mirror motors; wiper washer pump and motor; combination entry system transmitters and receivers.

CHASSIS HARDWARE:
Hood/door/hatch/trunk latches, cables hinges supports and springs; glove box/console lock and latch; ignition lock and tumbler; window regulators; seat belts; trunk and fuel door release cables or controls; T-Top latches; manual sunroof latch; mechanical seat tracks and springs.

LIMITED SEAL AND GASKET COVERAGE:
Seal and gasket coverage is provided with the Silver Plus Plan for all parts listed in the above named component groups.


Is this/are these 'extended warranty' company(ies) legit? Is it worth it? Are they difficult to deal with? If legit, are there any better (price/coverage) than Old Republic?

Any information/advice is welcome. Thanks in advance!