Extended Warranty Input Wanted
#1
Extended Warranty Input Wanted
My CPO is up in 2012, so wanted to start thinking about an aftermarket warranty. I have heard and read less than good things about many of them in terms of cost vs. coverage, actual claims being paid, etc.
Let me know if you have one and which companies have the best reputation for actually covering what they say they will, and paying when there is a claim.
Thanks,
Kurt
Let me know if you have one and which companies have the best reputation for actually covering what they say they will, and paying when there is a claim.
Thanks,
Kurt
#2
Carchex "exclusion" type warranty on my 05. Cost was about $4K for 4 years/up to 75K miles. Very generous definitions. There was a 30 day waiting period, but no inspection to get coverage. I just had a nealy $5500 claim where they paid about $4700. My problem was difficult to diagnose and they have a prescribed hour limit for diagnosis which cost me about $450 out of pocket. They sent an adjuster to check the car at my indy shop who gave them no hassle at all. My tech and the shop owners said the interaction was very professional and cordial. It took 3 days or so to get the adjuster there, but that was around Thanksgiving, so that might have accounted for the time delay (if there actually was one). My tech did a few things (with my approval) over and above the part/labor estimate that resulted in the rest of the non covered $$. This is the second time I've used the warranty, and it was very smooth with no glitches. My independent shop works with a number of these insurance type extended warranties and they are known for being straight shooters, which I assume helps with the claims. So far, so good. (I've gotten about $7500 of work paid for so far, it has paid off for me--I'm not sure if that's bad or good luck...but I'm happy I bought it!)
#3
Thanks, McCulla. What items are specifically excluded from your coverage?
Anyone know anything about a company called Naviss? Got a mailing from them, but even the mailing seems sketch. I'm a professional skeptic, so at least I've got that going for me.
Anyone know anything about a company called Naviss? Got a mailing from them, but even the mailing seems sketch. I'm a professional skeptic, so at least I've got that going for me.
#4
I purchased a TotalCare 5 yr 100,000 km warranty from EasyCare for ~ $3K. I have a 2007 C2 with 12K miles and purchased the warranty in August just before the factory warranty expired. This warranty was recommended by several sources and it is an exclusionary warranty so you know exactly what isn't covered, which is very little.
#5
I purchased a Fidelity Warranty. Also an exclusionary policy. http://www.fidelitywarrantyservices.com/
Pricing is dependent on a number of factors, including
(1) mileage on the car
(2) whether still covered by factory warranty
(3) Coverage
(4) Your negotiating skills.
You might want to use the search function as there are many good threads on this topic.
Pricing is dependent on a number of factors, including
(1) mileage on the car
(2) whether still covered by factory warranty
(3) Coverage
(4) Your negotiating skills.
You might want to use the search function as there are many good threads on this topic.
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#8
My CPO is up in 2012, so wanted to start thinking about an aftermarket warranty. I have heard and read less than good things about many of them in terms of cost vs. coverage, actual claims being paid, etc.
Let me know if you have one and which companies have the best reputation for actually covering what they say they will, and paying when there is a claim.
Thanks,
Kurt
Let me know if you have one and which companies have the best reputation for actually covering what they say they will, and paying when there is a claim.
Thanks,
Kurt
In talking with techs on this subject they tell me some aftermarket warranty companies can be a real pain to deal with. A car comes in with a warranty claim and the adjuster shows up asking a number of questions trying to find a reason to deny the claim. The techs have to answer these questions and of course honestly.
From the techs you can find out not only which warranty company is easiest to deal with, the best one to deal with, but what things you can do regarding servicing the car to help ensure there is no reason for the company to reject any claim.
Also, if you travel with the car, consider if the warranty will be honored at some other shop/business. NOt all problems happen handy to one's local service department.
Sincerely,
Macster.
#9
X51, the exclusions are primarily related to the fact that you have to stick to the manufacturer's service schedule and have proof of this to keep the warranty in force (receipts/etc). Overheating is a touchy one. If you have a warning and ignore it, overheating destruction seems to be ruled out on most of these. I checked into that specific issue when I was searching because one of the plans expressly ruled out ANY overheating damage. Mine does not. Does not cover battery/brake rotors/calipers/pads/shocks/clutch and clutch linkages. Won't cover anything if the car has been clocked. Won't cover performance mods. Won't cover racing/time trials/etc. Filters/oil/coolant/wiper blades/alignment/bulbs, etc. This is essentially an OEM type cover.
Like Macster alluded to, I spoke with my independent shop before I bought this to be sure that they would work with this company. Smooth sailing so far. The tech that takes care of my car knows that I go beyond the factory maint. levels, so he is my advocate in dealing with the warranty claims guys. I just follow the owner's manual schedule and keep all the receipts for things that I do myself.
Like Macster alluded to, I spoke with my independent shop before I bought this to be sure that they would work with this company. Smooth sailing so far. The tech that takes care of my car knows that I go beyond the factory maint. levels, so he is my advocate in dealing with the warranty claims guys. I just follow the owner's manual schedule and keep all the receipts for things that I do myself.
#10
I got the Tech Choice Ultra (exclusionary) through Paragon Motor Club about 10 months ago. Cost ~$4600 for 6 years and up to 75K miles on an '05 C2. So far it has paid me ~$1350 between 2 "minor" repairs, a faulty starter wire and a broken gearshift cable. Both repairs were done at the dealership's service department. Since each repair was <$1000 they did not have an adjuster come out, they just gave the service writer the green light over the 'phone. I've never had an extended warranty that didn't at least pay for itself, and most of them paid me double or more. Before I bought I compared with Fidelity (the only other company I found who would write an exclusionary warranty on an '05 Carrera at the time). The dealer wanted $8600!!! for the same terms, plus the Fidelity warranty excludes breakdowns from "wear and tear" once the car reaches 50K miles. The Paragon has no such exclusion, but it does mandate oil changes every 6mo/6K mi.
#11
I just called Paragon to get a quote for a 2007 997 and they told me they stopped doing warrantees for 911s this past summer. They'll still do Caymans, Boxsters, and Cayennes - just no 911s. Interesting. I wonder if they were paying out too many claims to make it worth their while...
#12
I got stung by a "reputable car warranty" recommended by my trusted Indy on my previous M3. Not their fault really as these things happen. I went with Warranty Gold's 6 yrs/100K comprehensive policy 10yrs ago for $2,200. They went belly up 6 months later... I just got a legal pay out( $300 of that original $2,200) last week from a class action suit filed against them years ago. As a result I've been going with the factory extended warranty's on all my vehicles. My current CPO runs out mid-2014. Will have to roll the dice one way or the other then... driving her nake or with a very carefully selected policy provider. Ironically, my only repair service outside of maintenance was $350 for a fuel tank issue on my old M3. The old E36 was solid compared to what BMW is pumping out of their mass marketing factory these days. I did 90% of the oil, brakes, radiator, etc services myself.
Last edited by USMC_DS1; 12-19-2011 at 02:09 PM.
#13
I just called Paragon to get a quote for a 2007 997 and they told me they stopped doing warrantees for 911s this past summer. They'll still do Caymans, Boxsters, and Cayennes - just no 911s. Interesting. I wonder if they were paying out too many claims to make it worth their while...
#15
I purchased a TotalCare 5 yr 100,000 km warranty from EasyCare for ~ $3K. I have a 2007 C2 with 12K miles and purchased the warranty in August just before the factory warranty expired. This warranty was recommended by several sources and it is an exclusionary warranty so you know exactly what isn't covered, which is very little.