the old addage....better to have and not need than to need and not have.....extended warranties has saved me mega bucks....it even got me a few brand new replacement when they couldn't fix mine.......I believe its Lowes that sells the extended warranty, and if you never use it in the 5 years of coverage, your money is automaticaly refunded.....bet Sears won't do that!
I have 2 sets from different stores I have to go back to the files to remember which one refunds the money......but thats a big selling point......Sears is outrageous with the prices they charge for the warranty...not to mention when you get the extended, it cancels the manufacturers first year warranty, Lowes does not, their extended kicks in after the first year
If I was you I would go to Lowes, comparison shop to what you got, they will match prices from Sears, check out the warranty details and price.....and send the set from sears back!.....also keep in mind, from Lowes, if you buy the set, you ONLY pay one price for the warranty on BOTH.....I paid $140.00 for a five year coverage on a washer/dryer set ( the Calypso to be exact)...which ends up being 6 years total...
now for my Frigidaire FL set....I got from a local dealer...the extended started after the first year, and the price is $30.00 per year per set.....so I bought 9 years worth, to equal 10 years total.....think about it!