Hi Abbie, I kept the MINI extended warranty on my R53 right up until I parted with it at nearly 10 years old. Had all the usual R53 issues, and virtually all of them were covered.
So am doing the same with Dynamo. I know some say it's a waste of money and you should save the equivalent each month as a contingency fund, but as much as we love them, MINIs are expensive little cars when things go wrong. I've already had two sets of front coilovers on the GP under warranty, so it's definitely been worth it for me.
You also get MINI Emergency Service included, which is peace of mind, especially when on road trips with no spare tyre. They were very good the one time (touch wood) I've had to use them so far.