I have purchased LG 335 freeze from flipkart @ 31K. Installation was done by company jeeves. he offered me extended warranty 1+2 yrs around 2K.
I have never heard/read about good experiences from these 3 party extended warranties (even company extended services are not good many a times). They would have sneaked in some T&C or they might even blatantly refuse to provide service giving non-sense reasons. If you are buying one make sure you read the T&Cs and ask for clarifications.