I kinda view homeowner's and medical insurance the same way. I have always had a 1 percent deductible on my home. Don't sweat the small stuff . Things like broken windows, leaky pipes, destroyed stone mailboxes, etc. just pay out of pocket. Save the insurance claims for the big ticket catastrophic damage (Tornadoes, fire, hail damage, etc.)
On a side note, extended warranties are rarely a good deal and very expensive. These after warranty car repair programs seem to be popular these days. Buy good quality products with a standard warranty and you won't have to worry much about repairs. Do the recommended maintenance as well.
"Never underestimate Joe's ability to **** things up!"
-- Barack Obama