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Thread: Extended Warranty, which one best?

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  1. #1
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    Extended Warranty, which one best?

    I am thinking on an extended warranty for my bike, my warranty will be due on Feb 2013.
    Which one you guys recommend?
    Any thoughts and experiences are welcome

    Thanks

    Damian
    Last edited by damiangs; 09-13-2012 at 05:47 PM.

  2. #2
    Nickname: Droid
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    Just keep in mind an "extended warranty" is really nothing but an insurance policy against major component failures and labor costs. So make sure you read and understand all that the insurance policy really covers and what it does not cover. Just like health/life insurance you are at the mercy of what the policy originator decides to cover. Plus there will almost always be a deductible or copay. Consider what that will cost versus the purchase cost. Also look close at what something like a clutch job costs and what it will cover. Not really a warranty in my book.

    Consider the actual payback for the cost of an extended warranty versus what you might likely pay. Make sure it covers or differentiates between what is repair costs of "maintenance/wear" items like a clutch assembly versus something major line a final drive failure.

    The clutch is a normal wear item, like tires, batteries, fluid changes, etc.

    If you plan to keep the bike for many, many years, and if you don't wrench on your bike yourself and never intend to do it, then the policy may be worth it.

  3. #3
    Registered User mpmarty's Avatar
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    Contego
    Marty - in the western Oregon mountains.'06RT, (gone '04RT, '86 Venture Royal, '81 Yamaha Virago920, '82Suzuki GS1100GK, '76 Suzuki GT750, Triumph 750 Bonneville, BSA Road Rocket 650, 61" Harley knucklehead)

  4. #4
    Old man in the mountains osbornk's Avatar
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    Quote Originally Posted by ANDYVH View Post
    Just keep in mind an "extended warranty" is really nothing but an insurance policy against major component failures and labor costs. So make sure you read and understand all that the insurance policy really covers and what it does not cover. Just like health/life insurance you are at the mercy of what the policy originator decides to cover. Plus there will almost always be a deductible or copay. Consider what that will cost versus the purchase cost. Also look close at what something like a clutch job costs and what it will cover. Not really a warranty in my book.

    Consider the actual payback for the cost of an extended warranty versus what you might likely pay. Make sure it covers or differentiates between what is repair costs of "maintenance/wear" items like a clutch assembly versus something major line a final drive failure.

    The clutch is a normal wear item, like tires, batteries, fluid changes, etc.

    If you plan to keep the bike for many, many years, and if you don't wrench on your bike yourself and never intend to do it, then the policy may be worth it.
    I agree. It's a high profit insurance policy with a lot of loopholes. If you get one, read the fine print very carefully.
    'You can say what you want about the South, but I almost never hear of anyone wanting to retire to the North.

  5. #5
    Registered User greenwald's Avatar
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    Contego.
    Kevin Greenwald - MSF RiderCoach # 121656 (BRC,SBRC,IS,IME,SMARTrainer)
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  6. #6
    Registered User f14rio's Avatar
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    is contego transferable?

    thx,
    ed
    "Enemy fighters at 2 o'clock!...Roger, What should i do until then?"

    2010 r1200r, 2009 harley crossbones, 2008 triumph/sidecar, 1970 norton commando 750

  7. #7
    Registered User lkchris's Avatar
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    Seems fairly obvious that the best is the one your BMW dealer likes best.
    Kent Christensen
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    '12 R1200RT, '02 R1100S, '84 R80G/S

  8. #8
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    Quote Originally Posted by Greenwald View Post
    Contego.

    Could you please let me know the website for Contego direct?
    I am looking for it but I can't find it online.

    Thank for your help

    Damian

  9. #9
    Registered User andreb's Avatar
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    Don't Do It

    I don't believe in the concept of an extended warranty for any vehicle. I figure anything major will happen in the first three years/36k miles. The extended warranty is usually full of loopholes, and normal wear and maintenance are excluded.

    The biggest reason is this: Extended warranties are a profit item for the insurance companies. That means, they expect to profit handsomely from it. Profit means revenue less expenses. Which means you should pay for your expenses and not pay the insurance company their profit margin. It is cheaper that way. And one can safely assume the insurance company has done the probability math/chances of a breakdown for your vehicle forcing them to pay. Most consumer magazines do not recommend them.

    Besides, when dealers ask me about them, I respond, "What? You've sold me a piece of junk? I thought you only sold good vehicles." Based on past experience, I would have never collected on any extended warranty.
    Andre Boening
    2010 F800GS and 2012 K1600GT

  10. #10
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    Quote Originally Posted by damiangs View Post
    Could you please let me know the website for Contego direct?
    I am looking for it but I can't find it online.

    Thank for your help

    Damian
    I looked for them several months ago with no luck.
    Marty Hill
    12 GS black/Boxer Cup Replika

    ride till you can't

  11. #11
    Alps Adventurer GlobalRider's Avatar
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    Quote Originally Posted by damiangs View Post
    Which one you guys recommend?
    I really don't believe in them. Instead, I buy vehicles that have good track records.

    But if I did get an extended warranty, I'd only get one if offered by the manufacturer, not some other/third party.

  12. #12
    Registered User peterbonly's Avatar
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    extended warranty ins

    I am very pleased with Pinnacle; purchased when I got the bike from a dealer w/ 4k on the odo; good for the 7yrs from date of manufacture; I am currently $1 cost for every $3 returned; about to go to ~$5 return for the $1 spent due to cracked tranny housing.
    This is not an option to consider if you are riding 5k or so a year.
    -pp Long Distance Motorcycle Adventurer
    '00 GS w/ >165K miles; '07 RT w/ >140K miles

    LD blog: www.ppldma.com

  13. #13
    Nomadic BluBeast's Avatar
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    Quote Originally Posted by peterbonly View Post
    I am very pleased with Pinnacle; purchased when I got the bike from a dealer w/ 4k on the odo; good for the 7yrs from date of manufacture;
    Thank you, peterbonly. I will consider Pinnacle. Is it specific to a certain dealer, or Pinnacle will pay for your repair no matter where you are/live?
    All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.
    Arthur Schopenhauer
    German philosopher (1788 - 1860)

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