If you wait till the last month of factory warranty and buy extended warranty for an additional 2/3/4/5 years, you will find that you will pay the same for per year of additional coverage as you did now but get more years of coverage for the same amount spent.
Not always true. Buying thru Flood ford, the price goes up at least $100 after owning for 12 months, and you are assuming that they wont increase the base cost of extended warranties also. Which, given the demand of these, wont be surprised if they do go up anyway.