Save your money. That's is just extra profit for the the store in question. I like the suggestion above. Is the stove Gas, resistant electric or Induction?

Whether it makes sense to buy a protection plan depends on the product type, the brand reliability, the cost of the plan, and the cost of the appliance. For example, accordint to CR surveys, LG induction ranges may be top notch in reliability so it may not make sense to buy a plan. Samsung induction ranges are lower in reliability but if you were buying the Samsung NE63B8211SS for $1100 it may not be worth it to spend $225 for a protection plan given the low cost to replace the appliance. Remember also that a five-year plan is actually only a four-year plan as the manufacturer's warranty covers the first year (and sometimes more).

Also consider IKEA ranges which include five-year warranties. The TVÄRSÄKER induction is similar but not identical to the Frigidaire GCRI3058AF which only includes a one-year warranty.

As many others have said, the appliance type, as well as the original price of the appliance, should be a factor in your decision. I would not consider an extended warranty for a countertop microwave, but I would most certainly think of one as being an option for something as expensive as A refrigerator or something with complex electronics, such as induction ranges, and even most wall ovens now have a bewildering array of micro computer controls. FYI, many of the extended warranty companies have poor reputations, in how they treat customers attempting to file claims. The only one that I have seen that has at least “reasonable” ratings for reliably, paying on claims is a brand called Square Trade, which is also labelled under Allstate because Allstate insurance purchased the square trade extended warranty company and it is now one of Allstate’s divisions. I also noticed that they will allow you to “bundle”coverage, if you’re purchasing more than one appliance that you want to get their warranty extensions for.

The purpose of insurance is to spread risk across a large group such that each member of the group pays a tiny share of the cost of failure, whether of human health or of appliance health. Where self insurance is easily affordable, then statistically one gains by not paying the insurance company's fee. Also, if one has different risk factors in mind than the insurance company, one might choose insurance even if one could be self insured.

Modern appliances are loaded with electronics. If electronics failures could be repaired part-wise, like changing a vacuum tube in a '60s TV, then part-wise self insurance is practical. When repair for modern appliance failures entails one or more boards being replaced, each at up to half the cost of the appliance, then warranty extension insurance, treated as a rental fee, makes sense. Induction cooktops, for example, are almost all electronics, and these are on-line 24/7 unless the breaker is off. Damage from power line transients can add to the inherent risks from the failure rates of myriad electrical components. And replacing the unit may have added costs if the countertop cutout is a mismatch.

So my view is that warranty extension insurance may be justified if self insurance would cause a difficult financial transient, or where one's estimate of risk is higher than that of the insurance company. Just as in life insurance, the insured is betting on early death, and the insurer is betting on the statistical average death.