Birdie10

I finally got a chance to read the Porsche extended warranty contract and the Fidelity Platinum program contract. While I need to still compare aspects of coverage there are two particular things that I wanted to point out - not sure if they are common knowledge.

First, on the type of parts that can be used for a repair - essentially both can be OEM new or used, or other new or used, or remanufactured. I was told by a Porsche dealer that the Porsche warranty was better because it would always be OEM parts - but obviously it doesn't have to be. I am not sure if there is more leeway under the Porsche warranty for the dealer to use new OEM parts or not.

Porsche Plan - "Replacements parts may be new, re-manufactured, or of like kind and quality"
Fidelity Plan - "Replacement Parts utilized in connection with a Mechanical Breakdown will be, at the discretion of FWS, new or remanufactured OEM parts, new or remanufactured aftermarket parts or used parts that meet the quality stands of the repair facility or FWS."

Second, and at least to me very importantly, there is a material difference between the plans on how a cancellation refund is calculated.

Porsche Plan - "a pro-rata refund will be calculated based upon the greater of time or mileage expired from the agreement purchase date and the current odometer reading,LESS ANY CLAIMS PAID, and less a fifty dollar processing fee" (I added the all caps)
Fidelity Plan - "a pro-rata refund of the service contract purchase price will be made based upon the grater of the time or mileage expired from the service contract purchase date less an administration fee of $50 that FWS will charge and retain."

The HUGE difference is the clause "less any claims paid" in the Porsche Plan. That means if you cancel early, you basically don't get the benefit for any insurance coverage because any claims are deducted from the pro rata amount you would have otherwise received back. That just doesn't seem fair or right so maybe I am misinterpreting something. So, let's say you paid $5,000 for your insurance for 4 years. You sell trade in your car after 3yrs and have previously made $2,000 in claims. Based time the pro-rata portion you could get 25% of the $5,000 back so $1,250 but under the Porsche plan, I believe you then subtract $2,000 from the $1,250 and you would get no refund at all!! Under the Fidelity plan I believe you would get the $1,250 less $50. Am I reading this wrong? Seems like a huge benefit to getting the Fidelity Plan - go for the longest you can get given your mileage and then cancel when you trade it in and you actually get a pro rata refund. If you go out longer and pay more for the Porsche Plan and trade in early, you could be screwed in getting a decent refund (unless you really haven't had any claims at all).

Now I need to read the coverage process and exclusions more carefully for both contracts, but thus far I am not sure what the benefit of going the Porsche Plan route would be - more expensive upfront and a smaller refund if you cancel early.

I would love to hear thoughts from everyone on the above.

DaveGee

I suppose your points are valid, but only if you’re trading the car in. If selling it to a private party, it’s unlikely you (I) would cancel the warranty. In fact, you’ll get a better price on a private sale if you’re able to advertise “with warranty”.

DaveGee

Birdie10

That is absolutely correct - both plans are transferable for a $50 fee (or something like that) if a private party deal. It is just hard for me to know the chances that I will private party sell rather than trade or sell to a dealer. The difficulty with the Porsche warranty isn't just the refund issue, but also the fact that I already essentially paid more for the car as a CPO and so paying for the 1st two years twice and on top of that, it is more expensive for the same duration as the Fidelity program in any event. So the Fidelity is a "win" just based on pricing even if I buy it now and the Fidelity is a "win" on termination/transfer whether or not I trade it or sell it private party.... what my other post above is trying to figure out is what are the "pluses" in the Porsche extended warranty column to make it worth the extra cost and lack of a refund in a trade exit. Better parts? Better process? Better coverage? Hard to tell from the contracts that is true and so that's why I am hoping that we get some comments from users of both plans with real world examples.

Big Swole

I only had once claim on my old car (2012 997.2TTS) for a passenger seat issue. Power lumbar not working.
Was like a $1600 fix. Fidelity sent someone out but okay'd it right off. Paid my $250 Deductible and was out!

Fidelity seems to have a very good rep at paying claims.

uphoto

That's good feedback. Might be helpful if people who bought Fidelity insurance gave more feedback on if they actually used the insurance! "paid 4,200 for 6yr coverage" and only had $1500 in repairs during that time" or something like that?

Porsche is a BIG gamble on this as it's a fairly reliable car but can bite you big time if you have something major go wrong. Our BMW 328D AWD wagon was a no brainer for me (carfax warranty) but in 18 mo haven't had anything go wrong with the car.........it's a diesel bmw, I shouldn't have to wait long.

pkalhan

Funny how you mention your BMW, I am was debating between a Porsche and an M4...I am going with Porsche. Want/Will get the Fidelity warranty though so will keep my eye on this thread.

PJ Cayenne

This is my primary concern that their business models in not deny, deny, fight, deny and then maybe pay.
They do sound pretty legit.

Keching

glad the extended warranty worked out for you. You mentioned several items being fixed. How many times did you have to pay the deductible?

drdantheman1

Just one time, it’s $200 deductible (or $250, can’t remember) per dealer visit. So I usually wait until I have a nice list and get everything addressed at one time. The bill sent to ext warranty was around $1800 for this visit.

Keching

good to know that it’s per dealer visit. I thought it was per item!

Keching

hey guys, a lot of good info in here. THANKS!

Just curious, if the car has exhaust. Will this void the extended warranty? I'm interested in a tts and the car currently has exhaust and is lowered on springs. It might have header but not sure yet.

nismonian

I spoke with all 4 people mentioned in this thread for my 991.2 TTS and just finished signing up with Michael Bernardo - mbernardo1111@gmail.com

Super simple, best price and quick process. best thing was his portal ---> https://tinyurl.com/SteingoldVolvoCarsVIP

Use coupon code - RENNLIST for an additional discount

joey911

Not sure how old this thread is but if it is still active I want to let you guys know that the extended warranty offered by Porsche is manage by Safeguard not Porsche of America. So it is still a third party just like Fidelity.

subwoofer

Yeah. No matter who manages it, with the Porsche warranty which is defintely much more expensive, I was informed by the dealer that I could call Porsche for roadside assistance and that the service department would take care of any repairs without me getting involved in anything. I bought a plan with a $100.00 vanishing deductible. Basically, it seems to me like the original factory warranty extended for another five years (in my case) with the same convenience. probably a waste of money although in nine years of ownership, who knows!

joey911

Just so you know Fidelity also has roadside assistance and you also don’t have to do the leg work for claims. It is also honored by any Porsche dealership. The 100 deductible that is a wash only applies if you go to the dealer where you purchased your Porsche. So basically if you go to a different dealership then you have to pay the 100 deductible. I did an extensive research on this and spoke with a couple of Finance managers.