I have spoken to Geico about this insurance and it seems to be a pretty good deal in comparison to the Honda extended warranty. It is an "all-risk" policy, meaning that unless it is specifically mentioned as an exclusion, it is covered. When I asked about the exclusions, I was told they were things like brake pads, tires, filters, coolant etc. The Honda warranty works in just the reverse, unless it is mentioned, it is not covered.
I live in Connecticut and was quoted a price of $44 for 6 months. I mentioned this post and the $16 pricew and they told me the price varied by state. I have a perfect driving record so it seems like a big jump in premium. Still, a lot less than the $1,200 Honda quoted me. The other great thing about it is that you have until your E is 11 months old or 11,000 miles to sign up. You have to sign up within 30 days of delivery if you go with the Honda warranty.
I think I'll probably take advantage of this unless I hear really bad things prior to my reaching the 11/11,000 point.