broke down and bought the warranty
07-04-2009, 01:18 PM
#1
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broke down and bought the warranty
Well i just was having a hard time sleeping with the thought of paying 25 for a new motor.
I bought the fidelty 3/36 with 100 deductable for 3699.00
The great news is that i will drive the car and sell it in June 2012 with 86000 miles
The bad news is I am out 3699.00 plus 300 for a ppi at the porsche shop and i still have to spend 1000 on a few seals and an oil gauge.
well here is to 3 years of good sleep.
I bought the fidelty 3/36 with 100 deductable for 3699.00
The great news is that i will drive the car and sell it in June 2012 with 86000 miles
The bad news is I am out 3699.00 plus 300 for a ppi at the porsche shop and i still have to spend 1000 on a few seals and an oil gauge.
well here is to 3 years of good sleep.
07-04-2009, 08:41 PM
#5
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07-05-2009, 03:29 AM
#6
Burning Brakes
Good if you never mod, false promise if you want to mod...
A
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07-05-2009, 03:55 PM
#8
Rennlist Member
Just curious.
I am considering an "after manufacturers" warranty but would like to go to drivers ed.
I have read that some of them will void the coverage not just at the track but if you have gone to the track and develop a problem later.
Speak of a slippery slope.
I am considering an "after manufacturers" warranty but would like to go to drivers ed.
I have read that some of them will void the coverage not just at the track but if you have gone to the track and develop a problem later.
Speak of a slippery slope.
07-05-2009, 04:27 PM
#9
Drifting
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You not only have to consider the language of the aftermarket warranty, but also the language in your car insurance policy.
There are a few "reliable" aftermarket warranty folks out there, but there are also a lot who have packed up and left the customers standing there with worthless warranties when the company has to pay out for too many engines, trannies or whatever. There are some threads on these forums that deal with the grief encountered by the guys who bought these warranties and find out about the small print, major exclusionary language, or simply refusals to cover the problem citing you violated some hidden provision.
Adjusters are in the business of denying claims, not paying them. Their primary allegiance is to the company's accounts reveivable, not paying out money your claim. You can bet that their first order of business is to look for an out...then finding none, having to pay for the problem.
There are a few "reliable" aftermarket warranty folks out there, but there are also a lot who have packed up and left the customers standing there with worthless warranties when the company has to pay out for too many engines, trannies or whatever. There are some threads on these forums that deal with the grief encountered by the guys who bought these warranties and find out about the small print, major exclusionary language, or simply refusals to cover the problem citing you violated some hidden provision.
Adjusters are in the business of denying claims, not paying them. Their primary allegiance is to the company's accounts reveivable, not paying out money your claim. You can bet that their first order of business is to look for an out...then finding none, having to pay for the problem.
07-05-2009, 07:25 PM
#10
Burning Brakes
Most exclude damage that MAY have been due to mods- and anything that tweaks power will (on paper) exclude coverage of engine failure.
SOME, and a good many, actually have language that flat out denies coverage if there are ANY mods! (Irrespective of causality)
People almost NEVER read and understand the actual contract- they listen to the salesman over the phone, they read the website, or they read the glossy brochure- but 1 out of 1000 asks for the underlying contract prior to buying. Then, 2 years later, they blame the company for not covering something....
My cynical 2 cents.
A
07-07-2009, 02:10 PM
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1. Get a copy of the policy and read it before paying. If you don't understand it, consider offering to pay your regular ins. agent to read and advise or retain a lawyer ($$). Very unlikely that a regular extended warranty will cover damages caused by DE or anything that can be attributed to a modification. I've read many of these policies and that is my experience.
2. Note that even if you ask questions of the agent of the ins co offering the extended warranty, and you have the answer in writing, almost certainly the language of the policy will control despite whatever the agent has said in that answer.
3. Bottom line, if a claim is not clearly within the coverage of the policy it will likely be denied.
4. In a dispute with the ins co, unless you are willing to foot the bill for litigation, you are effectively stuck. The ins cos understand this well.
Lex
2. Note that even if you ask questions of the agent of the ins co offering the extended warranty, and you have the answer in writing, almost certainly the language of the policy will control despite whatever the agent has said in that answer.
3. Bottom line, if a claim is not clearly within the coverage of the policy it will likely be denied.
4. In a dispute with the ins co, unless you are willing to foot the bill for litigation, you are effectively stuck. The ins cos understand this well.
Lex
07-07-2009, 05:15 PM
#13
Burning Brakes
1. Get a copy of the policy and read it before paying. If you don't understand it, consider offering to pay your regular ins. agent to read and advise or retain a lawyer ($$). Very unlikely that a regular extended warranty will cover damages caused by DE or anything that can be attributed to a modification. I've read many of these policies and that is my experience.
2. Note that even if you ask questions of the agent of the ins co offering the extended warranty, and you have the answer in writing, almost certainly the language of the policy will control despite whatever the agent has said in that answer.
3. Bottom line, if a claim is not clearly within the coverage of the policy it will likely be denied.
4. In a dispute with the ins co, unless you are willing to foot the bill for litigation, you are effectively stuck. The ins cos understand this well.
Lex
2. Note that even if you ask questions of the agent of the ins co offering the extended warranty, and you have the answer in writing, almost certainly the language of the policy will control despite whatever the agent has said in that answer.
3. Bottom line, if a claim is not clearly within the coverage of the policy it will likely be denied.
4. In a dispute with the ins co, unless you are willing to foot the bill for litigation, you are effectively stuck. The ins cos understand this well.
Lex
Especially #2.
If I may amplify on #1: The "POLICY" and not the flier, or description of coverage, or glossy brochure. You'd be surprised how hard it is to actually get one out of these companies to review....
07-07-2009, 05:55 PM
#14
Drifting
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I think what's coming thru loud and clear from Lex and Adam....is you can't trust what the warranty agent is telling you. It's up to you to go thru the fine print and make sure of what you're getting into. Sort of like the Army recruiter who promises that you'll be stationed to Hickam Field in Hawaii as the R and R director....then you end up in Iraq messing with IED's.....and no, in spite of what they might tell you....those are NOT IUD's. 
