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I let my Mavic cover lapse unintentionally on my M2P and now I get nervous when I fly.
Was that the DJI Care Refresh ??
If so, you can extend a second year, but only if you have at least one replacement left from the first year.
2 claims allowable in total, both have a replacement fee, but those are pretty low (#1 $139, #2 $199).
Great because it covers operator error, good for that first year (or two) learning.
For $169 (x 2 ?) it is probably a no brainer to buy it for the two first years, so many things can bring on a loss (but usually pilot error is to blame in some way).
I assume if you have one claim in year one, extend your cover for year two, you can have one more claim.
If you have no claims year one, you should have two replacements available for that second year (if needed).
Also assume the cost for each year is $169.
You do have to recover your drone though, so bad luck if it falls somewhere inaccessible, has a flyaway, or lands in the sea / deep water.
I have read a few instances where the drone has been lost to some sort of massive failure (and not recovered), where the flight logs / data clearly shows this.
This is usually the exception rather than the general rule though.