I just had a new 5 Ton American Standard HVAC system installed. Is it worth spending $575. For an extended warranty which provides for 10 yrs on all parts and labor?

The standard warranty is:
Heat Exchanger: 20 Yrs
Compressor: 10 Yrs
Condenser Coil: 10 Yrs
Parts: 5 Yrs
Workmanship: 2 Yrs
Labor: 1 Yr
... and what's the difference between 'workmanship' and 'labor'?

Thanks!

'workmanship' and 'labor'

Workmanship (weather they did a good job or not installing the unit) (quality)

Labor (the work to be performed when replacing the parts under warranty)

You get one year for free but after that you will pay $$$ for the labor.

If this is a factory warranty get it. If it is a dealer warranty do not get it because the dealer can go out of business and take your warranty out with them. Always get a factory backed warranty. This way if the dealer goes out of business you can call the factory toll free number and they will send someone else to honor the warranty.