YES IT IS WORTH IT A HAD ONE ON MY 01 RANCHER BROKE THE REAR END COVERED. I BOUGHT ONE WITH MY 06 FOREMAN. HONDA SAID IF I DID NOT USE IT THEY WOULD REFUND IT AT THE END
If it's a quad and has a Honda badge on the side-I would get as much warranty that is available-j/k.
If Honda pays the customer back the money that is spent on the extended warranty if the warranty is not used-go for it. I would definitely check into that, though-sounds fishy-that's a lose-lose situation for Honda!!
Plus if you are buying new it usually comes with the factory warranty-usually 6mo-12mo-you can decide in that time if you want to purchase or not. If you in and out of the dealership for repairs in that time-I would say get one.