Are These Asurion 3-Year Warranties on Amazon Too Good to Be True?

[consultant]

I just ordered an S10 5G ($450 from Amazon Renewed with 90-day warranty). Interestingly, when you go to purchase they ask if you want an Asurion Protection Plan for $7.49 month which covers everything except theft/intentional damage and there's a $39/$59 charge depending on how you get it repaired (through them or reimbursed) and $129 for full device replacement. Interestingly, You can buy $450-$499 protection plan outright on Amazon for the same company for $57.99 for a 3-year plan. A lot cheaper than 36 X $7.49 = $269. And this is crazy, the details and Asurion confirmed in the questions section on Amazon this has no $39/$59/$129 deductible!! Can't believe it.