The contract is very vague on this topic.
It reads as follows:
"Parts costs are limited to the suggested retail prices of your vehicles Manufacturer. Replacement parts may be of like kind and quality when available."
My interpretation is that the first sentence leads the reader to believe that the warranty company is willing to pay the suggested retail price of OEM parts. However, the second sentence seems to be a caveat for the warranty company to deny claims or use remanufactured parts. If the warranty company is willing to replace two OEM ball joints, why not an OEM steering box? Further, they sell you on the fact that you could take your car to any licensed repair facility, including the dealership, but are unwilling to pay for the repairs.