auto insurance bmw

It is an auto repair insurance a scam or a good idea?
My 03 BMW is out of warranty and sensors (tension, yaw, the wheel speed, ABS, etc) are failing. New sensors cost a fortune. Auto repair would be insurance to cover these sensors?
All insurance cover would probably cost way too much to be profitable. No insurance company plans to lose money, and you absolutely will need repairs at some point, so tell me, would you bet against himself as well?
BMW Commercial.