New Car Extended Warranty (By Honda Care): 8 YR/ 120K Miles

Hi People

I am planning to buy an extended warranty for my new 2010 Accord EX. I've already considered quite a few warranty companies but I am just not comfortable with the idea of a 3rd party warranty for my car. After carefully considering which is a good company, I've decided to buy genuine Honda care warranty or nothing at all. I am planning to drive this car to ground and so thought the longest plan might work out to be better. I received a quote for an '8yr/120K miles' extended new car warranty for my Accord (since it is still well under 6000 miles) which is going to cost me $1020 with zero deductible. I asked for a longer plan but looks like Honda (North America) does not have plans for more than 8 years..... Also, the warranty would be sold to me as though it started on the day I bought my new car and not after the factory '3yr/36K miles' expires. So that essentially gave me '5yr/84K miles' for about $204/year which still is not too bad. But I thought it would be a good idea for me to ask for expert opinions before coughing up the $$.

1. Can someone tell me if this extended warranty thing is worth the money?
2. Is it possible to cancel the warranty within a specific time frame?
3. Any personal experiences with Honda Care? How are they as a company?
4. What is (and is not) covered by this warranty?
5. Did I get ripped off? Could I have got a lower price on this deal?
6. If someone needs details about this deal, let me know and I will forward you the email of the dealership?
7. How many of you accord owners out there actually have extended warranties? Do you think it is a good idea to invest in a warranty? (Heard Accords have a not so great transmissions...)

Please let me know what you guys think..... If I missed anything, please let me know and I will update it. For anyone interested, I also attached the pdf's which give me a list of covered parts... The list is pretty extensive but I just wanted some expert opinions on this matter.....

Thanks a lot
Maxie

It's a no brainer. It's a Honda Accord. It's not supposed to breakdown. Don't buy a warranty!

Extended Warranties are a scam, and by that time, you will either be buying a new car, or looking.