newbie with question about high mileage warranty. am i in the wrong place?

[Guam'sBest]

hey, first off i want to say thank god for this site and for all the people that take the time to help answer questions.
now... i'm a first time poster and i bought a 02xlt with 114k miles yesterday (i know its getting up there). i'll be all over this forum soon, but i have a question about buying a warranty (sorry if i'm in the wrong section).
when i got the carfax report there was a link to buying a warranty. i clicked to see what it was all about and a guy called me within 2 minutes of entering my phone number (talk about desperately promt).
ford said they don't offer any warranty because of the high miles, but these guys are offering a 5 yr 100k miles powertrain warranty with payout caps for the repairs...
engine $3000
transmission $2000
waterpump $500
drive axle and differential system $1500
the warranty cost me $1200 and i have a $100 deductable on any repairs. it has all the good stuff... nation-wide towing, service, free rental, they pay diagnostics and seals and gaskets.
the company is called Warranty America LLC
can anybody give me advice about this plan and the company? i've never heard of them but i am about to jump on this warranty. the car has never had the transmission fail or repaired and i'm guessing it won't be long, even with full service treatment.
any ideas?

 

[Bill Kemp]

Do your homework first.
Request a copy of the warranty and READ it. Know what you are buying.
Ask the dealer &/or shops in your area if they have used their warrantees and how they liked them.
DONT just jump on something like this.

 

[Guam'sBest]

thanks for the advice. i'm trying to speak with someone at the closest dealership now. maybe they will have some idea about this company. i just figured that i will come up against some problems sooner rather than later and (while the xlt is showing no signs of an issue) i'd rather be covered. since i'm waiting for answers from the seller about the repair and maintainence history, and the carfax report doesn't show much except emissions tests, i want to treat this car to some pampering so it will (hopefully) stay strong for 3 or 4 years.