Yorgi absolutely nailed it.
If on average they weren't going to take more money from you than they were going to pay on repairs, they wouldn't sell the policy.
My gripe however is that they even refuse to pay on what they SHOULD.
This makes it particularly worthless IMO.
And to TampaMark's point, and one I was trying to make... Most of what you will spend is routine maintenance and wear... which isn't and is not expected in the CPO.
Once in a while, someone does have an engine replacement on the CPO. One should look a them the same as you look at the Jackpot winner in a casino. Lucky, not smart.