I know people will probably laugh at this - what is the opinion on "extended warranty" regarding the PS5.
Now before you laugh too much, let me just clarify. PS5 is new technology, there is no doubt here. Generally speaking these devices are very well tested and they don't suffer from any issues - but occasionally things do happen.
That 1yr warranty only covers you for that - one year.
Now shopping around, extended warranty is usually silly money and I agree, you'd be better off putting some money aside if you really are worried or just replace the item if it were to fail.
On Amazon I notice they sell a "Protect your bubble" policy on games consoles costing £400 - £449.99.
£30 policy - covers you for 2yrs after the manufacturers warranty runs out and also covers you for 3yrs accidental damage.
The only reason this even crossed my mind was that we purchased a similar policy for our PS4 Pro - during some decorating my wife managed to drop said console from quite a height. Within 10 days we had a replacement console.
Just gauging the level of laughter