B&H's SageMAX extended warranty

I see that B&H has dropped Mack and is now using SageMAX for extended warranties.

 

A few questions:

 

(1) Is SageMAX (AIG WarrantyGuard) just Mack renamed, or is it a different company?

 

(2) Has anyone bought and taken advantage of SageMAX?

 

(3) The plan http://www.bhphotovideo.com/find/sagemaxTC.jsp covers "parts and

labor costs resulting from a breakdown, normal wear and tear, failure due to

dust, heat, humidity and failures manifesting from power surges. A mechanical or

electrical breakdown caused by unintentional and accidental damage from handling

of the product is also covered." If for example during a $360 3-year extended

warranty, if someone were to drop and substantially damage or total their 40D

(which by that time would be discontinued) what would be covered? A replacement

with a used 40D? Cash? A 50D?

The answer must be in here somewhere, I think it says whatever is the least costly to them. - "Limit of liability: For any single claim, the limit of liability under this Plan is the lesser of the cost of (1) authorized repairs, (2) replacement with a product with similar features, (3) reimbursement for authorized repairs or replacement or (4) the price that you paid for the product. The total liability under this Plan is the purchase price you paid for the product; in the event that the total of all authorized repairs exceeds the purchase price paid for the product or we replace the product with another of equal or greater value, we shall have satisfied all obligations owed under this Plan."