BMW Extended Warranty worth it?

Things like that would make me uneasy.

When it isn't written in clear words then things get confusing and "hassley".
Generally people have had good success with getting things repaired under warranty. As long as it's reasonable and you can put a case across it'll get done. If not, then BMW are generally willing to find a compromise. This is by far and away the best aftermarket warranty product available for BMWs, and as such is the defacto choice short of risking everything yourself.

Regarding wear and tear, it really depends on the component, the age of the car, the mileage and whether there are any known 'issues'. Take injectors for example; if they were to fail at 4 years 55k, I'd say that's not wear and tear and that they were not built to reasonable standard. 6 years and 150k and you will be hard pushed to make a case.
 
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What if your BMW with say 45000 on it breaks and you know the bill is gonna sting.. Whats to stop you just taking out cover, waiting a few weeks and pretending it just happened?

Do warranty companies have something in place to avoid this? Could make big bills disappear in theory.

This is fraud. You also can't start the warranty for 30 days after purchase.
 
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