You pose a question that folks split on.
For some it's a good deal, for others it's waste of money. If you're handy with wood, electrical, tires, plumbing etc., and in good physical condition, you could probably take care of most anything that came along and would negate the necessity of buying it.
I can do all those things but chose to buy ours anyway. The body of a trailer is not like the body of a car...I'm not sure bondo and a sander is going to fix the damage
For me, it's got to the point I can't get on the ground (well, I can, it's just a heck of a sight to see my trying to get up
) or crawl around on a roof so it was pretty much a no brainer.
Peace of mind is there but be sure if it covers whatever it is that comes up. Be sure and read all the small print because you have to follow a set mtce. procedure on the items for the warranty to apply. For me, I have the trailer in the shop 4-5 times a year for something so I just have them do the appliance, roof etc. mtce. then I have a record.