Gulf Insurance Extended Warranty Letdown: Repair Costs vs. Payouts

I purchased an extended warranty for my television from Gulf Insurance via Teknosa. However, I believe that the extended warranty service is unnecessary. Given our country's economic conditions, product prices are constantly fluctuating, and because the extended warranty kicks in only after the regular warranty expires, one must plan at least three years ahead. My product failed during the extended warranty period, and the service accepted my item, confirming that the warranty was still in effect. However, I was informed today that the repair cost is less than the product price, resulting in a meager voucher offer. This voucher is only good for a minor accessory. In other words, if the costs of performed services exceed the product price, those costs are not covered. Because the product's future market value may exceed its current selling price, the cost of the extended warranty service becomes unmanageable.