That warranty would cost you $118 for the 3 years it covers you, you would be better off just getting a rider policy for personal belongs with your insurance company.
Sometimes warranties are worth it, but very seldom. For example, I just bought 4 theater seats with power reclines. We will use these almost daily. I ended up buying the extended warranty that costs $50 per chair for a 5 year period. That seemed worth it, it covers tears, the motor, etc. $13 per chair per year of the covered 4 years is worth it.
EDIT: another example, I bought a Honda Odyssey a few years back. The dealer wanted to charge $1500 for an extended warranty through Honda Care. I declined, went online and found a dealer in the next state that sells Honda Care warranties at 50% online, so I ordered one from them after sending proof of purchase, and I received the documentation from Honda a month later. $700 for an extended warranty seemed more respectable and it shows the markup.