American Express Purchase Protection Program

One reason I was tempted and ultimately decided to go with the amex centurion black card, was the fact that they have a purchase protection plan. Basically they will cover in item in the event that its lost stolen damaged or you are unhappy with the item for any reason. This all sounds great, today I called member services to request a refund for a purchase I made for an item that I’m not happy with. American express notified me that the protection plan only will cover up to 300 dollars. This purchase was for $1,300, so again I’m starting to think this card is a waste of money. Please let me know what you think about the card.