If you'll always have $15,000 for an engine repair, then self insure.
If $1,000 is hard to come up with sometimes, buy the warranty.
Look on-line before committing to that warranty.
Someone here on this forum admitted to paying $20,000 for a five year warranty.
I can't tell from your question about the $7,000 what you want to hear from us.
At least post a link to the warranty so we can get a look at it for you.
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