It lasts for 2 years, but is only usable once. So if you break your reader 6 months in, the other year and a half is a wash.
Companies make a lot of money from extended warranties because most people who purchase them don't actually use them. However, that doesn't necessarily make them a bad thing.
It's worth it if (a) it brings you peace of mind and (b) you can't afford to just buy a new reader if yours breaks.
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