Extended Warranties...to do or not to do?

Are these just a sales gimmick or are they worth it to the end user?

I'm new to the world of photography and have a strict budget so the thought ot damaging a nice, new DSLR or lense is troubling. The sales pitch, as with most sales pitches, is compelling. However, I've been burned in at times with Extended Warranties, while at other times they have been a life saver. Given the investments made in photography what is a suggested approach on this topic?

Any insight or feedback is welcome.

Thanks in advance!

--Phil

You already posted this question on another forum. Cross-posting is frowned upon. stick to one forum to get your answers.