The OP has it wrong. Extended warranties last 3 years, during the lowest chance of failure time, electronic devices will generally die in the first few months (manufacturer warranty) or after 3 years (after extended warranty). Add to this that extended warranties have convoluted terms that attempt to stop people getting warranty repairs.
In Australia, extended warranties are useless due to Australian Consumer Law, which protects consumers by making manufacturers repair goods if they fail before a reasonable time. Essentially, if there's an extended warranty available, the item should last as long a the extended warranty.