Best place/price for extended Porsche warranty?
#166
Rennlist Member
You guys are not talking about the most important issue:
Is it inclusionary, which most warrantees are, so it covers certain parts that are listed? The problem is the parts that cause a PDK failure are NOT listed, hence you are not covered even though the car is not even driveable due to a transmission failure. Insurance companies know this, so they don't include the parts that cause problems.
Or is it exclusionary where they list what is NOT covered like tires, brake pads, convertible tops, etc. Exclusionary warranties like the Fidelity Platinum are more expensive because there are fewer loopholes. PDK fails from an electronic rod sensor (the most common failure) you are covered.
Last edited by Upscale Audio; 10-26-2022 at 11:52 AM.
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#167
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100% Exclusionary, as a provider of Fidelity as well, we would only work with providers that have the same claims acceptance and customer service Fidelity provides, we are very happy that Freedom does just that, 100% claims acceptance with both providers.
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Your place for distinguished automobiles, proud provider of Fidelity & Freedom Warranty extended warranties. Visit us at Highline-Autos.com
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#169
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#170
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So you pay $7k, PDK goes out for $31k. Freedom pays $20k to the dealership, customer pays the $11k difference, customer is still net $13k better off purchasing the Freedom warranty, and customer still has an additional $20k in repair coverage.
#171
Agreed. Just about anything is better than 31k out of pocket . There are only 2 items that would result in a massive claim for GT3's, PDK at 30k and engine at 50k. The only reason I didn't go with your policy was because I still qualified for a Porsche policy underwritten by safeguard because my car was still under CPO.
Last edited by cwazy1; 10-26-2022 at 02:45 PM.
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#172
Drifting
I just got a warranty on my 2RS about a month ago from a Porsche Dealer from Safe Guard. There are no mentions of caps in the contract. Covers all mechanical and electrical. I got 84 months - 60K miles. I think if anyone is considering keeping their car long terms and driving them it is worth it.
#174
Drifting
#176
Rennlist Member
I understand that, the maths of spending $7K with those limits makes zero sense. yes if you have two $20K claims in a single year it is marginally better. the vast majority of owners would be better putting the $7K in a savings account each year and using that as a repair fund.
Last edited by tgibrit; 10-26-2022 at 04:15 PM.
#177
Drifting
I understand that, the maths of spending $7K with those limits makes zero sense. yes if you have two $20K claims in a single year it is marginally better. the vast majority of owners would be better putting the $7K in a savings account each year and using that as a repair fund.
Would I prefer a higher claim maximum? Hell yeah. But what are the options here? There really aren't any.
Last edited by FourT6and2; 10-26-2022 at 09:18 PM.
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#178
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Would we? The national average interest rate for a savings accounts is 0.19% last I checked. Even at 2%, I don't think that would do better than a $7K policy that nets you $13K coverage. And even if you contribute $7K each year to said savings account... how is that better than paying $7K once and getting two $20K claims out of it? The former, you're putting your own money up each time. Let's say you own car for 5 years. That's $35,000 of your own money you've put toward a warranty issue. With the later, you are literally only out the price of the premium, which is $7,000... I don't understand the issue here.
Would I prefer a higher claim maximum? Hell yeah. But what are the options here? There really aren't any.
Would I prefer a higher claim maximum? Hell yeah. But what are the options here? There really aren't any.
If you think paying $7K for a low probability event, for $13K of coverage makes sense then go it.
Last edited by tgibrit; 10-26-2022 at 06:40 PM.
#179
Drifting
Are we talking past each other? What are you saying here? Do you think you have to pay $7,000 each year for an extended warranty? That's not how it works. Or do I just not understand? You pay $7,000 ONE TIME for an extended warranty that has $20,000 coverage per incident, $40K total. You don't pay $7K per year for the policy...
Right... you're banking on never needing the policy. Whereas most people buy a warranty/insurance in case they need it. Two different mindsets. That's literally the whole point of insurance...
And obviously it works out in the favor of the insurance company, otherwise they wouldn't do it. It's a numbers game for them. I get it.
If you do not need to make a claim in your 5yr example I have at least the $35K in my pocket at the end of that period.
If you think paying $7K for a low probability event, for $13K of coverage makes sense then go it.
If you think paying $7K for a low probability event, for $13K of coverage makes sense then go it.
And obviously it works out in the favor of the insurance company, otherwise they wouldn't do it. It's a numbers game for them. I get it.
Last edited by FourT6and2; 10-26-2022 at 06:49 PM.
#180
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Are we talking past each other? What are you saying here? Do you think you have to pay $7,000 each year for an extended warranty? That's not how it works. Or do I just not understand? You pay $7,000 ONE TIME for an extended warranty that has $20,000 coverage per incident, $40K total. You don't pay $7K per year for the policy...
Right... you're banking on never needing the policy. Whereas most people buy a warranty/insurance in case they need it. Two different mindsets. That's literally the whole point of insurance...
Right... you're banking on never needing the policy. Whereas most people buy a warranty/insurance in case they need it. Two different mindsets. That's literally the whole point of insurance...
Last edited by tgibrit; 10-26-2022 at 06:55 PM.