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Thread: Extended Warranty Companies

  1. #31
    Rally Rat
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    Cool

    Quote Originally Posted by wjrich100 View Post
    Ok, so more detail on the plan I am being sold- It's $1399 and covers the bike for 4 years at the expiration of the 3 yr factory warranty, so 7 years total.
    The company offering the coverage is "RPM ONE"and the plan is administered by Interstate National Dealer Services, Inc. It's not BMW specific, as the policy language covers motorcycles and has seperate sections related to snowmobiles, scooters and jet skis.
    Coverage list includes all the expensive stuff- FD (it specifically calls out shaft drives), electronic, instrument clusters, suspension components, etc.
    All coverage is excluded if you don't maintain the bike properly of abuse it. Abuse being defined as racing or similar behaviors.

    Anybody know of or have experience with this company?
    While I am in favor of an extended warranty (especially on a BMW!), bear in mind that you already paid for the first 3 years of coverage - the bean counters at BMW rolled that into the MSRP.

    So $1,399 is just for 4 years. At $350 a year, that's a bit steep.

  2. #32
    wanderer
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    I never buy extended warranties. I think they just like gambling...you always lose in the end!

    Extended warranty companies are it the business of making money. Money for the profit, money to give the dealer a commission for selling you a policy, money for overhead and administration....and what they do have to pay out for any repair.
    You get to pay all these things plus the end repair if needed or not!

    I like to keep my money...not give it to some one else. So I self insure.

    So if my BMW (or anything else for that matter) fails I pay the bill. In 35 years of BMW ownership I have NEVER had to do any more that tires, brakes, rotors(once), rear shock. I do trade bikes at between 50,000 and 90,000 miles so they are not worn out.

    I may be unlucky and my transmission on my RS will blow up (my RS is 37 months old now) and have a big bill. Not likely but it could happen. I would have to pay a couple of thousand for a rebuild. I still would be WAY ahead by not paying 35 years of extended warranty bills.

  3. #33
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    It's possible not to lose with an extended warranty however, in general, the odds are higher that ones premium "investment" will not pay off, especially with a third party carrier. The fact that BMW will not (does not) underwrite its own extended coverage, may be a red flag enough to purchase a third party product. BMW alone knows its claim loss ratio, if with that empirical evidence they can't or won't provide extended coverage at a marketable rate...it does make one wonder. One evidence of that is when they dropped the unlimited mileage aspect of their base warranty. Assumption might be it was too costly for them to continue due to excessive claims. It is a gamble for sure.
    MOA #46783

  4. #34
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    Quote Originally Posted by greenwald View Post
    While I am in favor of an extended warranty (especially on a BMW!), bear in mind that you already paid for the first 3 years of coverage - the bean counters at BMW rolled that into the MSRP.

    So $1,399 is just for 4 years. At $350 a year, that's a bit steep.
    Maybe the $350 a year is a reflection on how much it takes for the company to break even or make a profit? While it seems steep, their underwriting department probably has a reason for charging that much.

    Is there any chance for a sticky on this subject? I'm thinking of a thread where owners can report what they actually paid...not theorizing about whether you need one or not.

    Chris
    Elnathan - 2014 BMW F800GT
    IBA# 49894 True Rounder = 0-20's - Rounder -- to -- 100's+ Red Hot Rounder
    John 14:6

  5. #35

    Extended Warranty

    Quote Originally Posted by 1957mpd View Post
    My BMW dealership is a vendor for an extended warranty company called Assurance American. Anyone have any experience with this company or any other aftermarket you'd care to share? I am about to close on a new GSA which of course comes with a 3-yr warranty, but as everyone who's ever bought "new" knows, the initial 36 month warranty goes by fast and the more complex BMWs become, etc..... Thanks for any help.
    I've had extended warranty from Zurich on my 2007 R1200RT 92K miles and RPM on my 2016 R1200RT 71K miles and both have saved me on expensive repairs.

    Charlie

  6. #36
    Knight-Errant 1957mpd's Avatar
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    Quote Originally Posted by charlesodle View Post
    I've had extended warranty from Zurich on my 2007 R1200RT 92K miles and RPM on my 2016 R1200RT 71K miles and both have saved me on expensive repairs.

    Charlie
    Wow. You have 71K miles on a '16 RT!? That's astonishing. Was the '16 RT's extended warranty claim the result of exceeding BMW's 36 months (a '16 bought in '15) or the 36K mile cap?
    "Solů el que ensaya lo absurdo es capaz de conquistar lo imposible." Miguel de Unamuno 1905

    Mark - Las Cruces, NM - '17 R1200 GSA

  7. #37
    I took the 2 year extended warranty on the 2012 when negotiating at the dealership 2 months ago. Just had new throttle bodies replaced [ both ]. Warranty cost me 1295.00 for 2 years with 0 deductible, the cost of the throttle bodies and labor was 1450.00. My mechanic thought I made the right choice on the 2012 as in just the first two months, it's paid for itself. Mechanic has worked with the warranty company in the past and has nothing but good things to say about them honoring their warranty service when he calls.

    I also like the fact that should anything need fixin on the trip to Ak. starting in two weeks, MOA tow's and warranty pays for the fix. Peace of mind is worth more than 1295.00 IMO.
    The lion does not even bother to turn his head when he hears the small dog barking.

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  8. #38

    Rpm

    Quote Originally Posted by greenwald View Post
    While I am in favor of an extended warranty (especially on a BMW!), bear in mind that you already paid for the first 3 years of coverage - the bean counters at BMW rolled that into the MSRP.

    So $1,399 is just for 4 years. At $350 a year, that's a bit steep.
    RPM paid for an expensive repair on my 2016 R1200RT. The service department had to send all the necessary documents including the service records before approval.

  9. #39
    Quote Originally Posted by 1957mpd View Post
    Wow. You have 71K miles on a '16 RT!? That's astonishing. Was the '16 RT's extended warranty claim the result of exceeding BMW's 36 months (a '16 bought in '15) or the 36K mile cap?
    The mileage cap. In Alabama, I can and do ride all year except when we get the rare snow storm.

  10. #40

    Extended warranty companies.....

    Quote Originally Posted by 1957mpd View Post
    I know I and others would like to know WHICH company(ies) members who've purchased extended warranties, and made successful claims, have used. Extended warranty contracts vary with dealerships, but there may also be independent companies members have contracted with outside of dealership representation. Even if the calculus suggests extended warranties for persons expecting to keep their bike beyond 36 months/36,000 miles are well advised, not all companies are equal. Which have performed best for those of you willing to share your claim experience?
    I am with you. My situation is that I am considering a K16GT. the new one is 30K, but I found a nice used one for 1/2 that price. it is still in warranty for a few more months and has very low miles. I plan to ride it quite a lot and want an extended warranty. I dont know which companies are good. My local BMW dealer offers 'RPM one' extended coverage, but it seems quite expensive. What are the options? can you buy it direct and cut out the dealer markup on the coverage? I dont feel comfortable buying such a high end machine w/o a decent warranty.

  11. #41
    When I was young (a long time ago) and poor and couldnít afford a large repair bill I bought a policy for a car. The very first time I needed it, the company fought tooth and nail to get out of paying and in the end only covered about half the bill and it took months to get that. Since then I have purchased about a dozen new vehicles, cars and motorcycles, and I banked the cost of the extended warranty. I now have about $35k in MY bank and if I ever need it (I havenít had a major repair thankfully) I can go to my bank, get the money and I donít have to argue with anyone.

  12. #42
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    Yes this is how it should be. My2 Cents

  13. #43
    Registered User dogsbody's Avatar
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    A good experience but perhaps not for everyone

    I bought an extended warranty at the dealer from Zurich. A 2014 1200RTW. Not all that long after after my factory coverage ended, my alternator failed. BMWNA would not assist and the quote was over $ 3k (parts and labor) to replace the unit. Zurich covered this at once, without any issues. In this case I came out ahead on the cost of a extended warranty and I was very pleased with the response from Zurich. This was a retirement bike and I expected my income to drop significantly and the price of shop hours would increase. The insurance aspect struck me strongly in this case, I normally avoid these extended warranty offers on other products.
    1997 Green R850R Mr. Toad
    2014 R1200RT no name yet but this bike is a wonder.

  14. #44
    Due to the pandemic, my dealer wasn't open and wasn't going to be opening before my rpm1 extended warranty ended [ I could have renewed it for another 2 years with the dealer, had they been open.

    Under the gun to grab another warranty, discountesp just issued me a 3 year warranty, no mileage exceptions, with a 50.00 deductible. Cost was 1185.00. We shall see how discountesp handles any claims shold they arise in the next 3 years.

    In my own world, 1185.00 for 3 years is not cost prohibitive. That's just $1.08 per day. IF there's any claims, and IF they deny all claims, the risk/reward was still worth it IMO.

    Here's the math, seems reasonable to me.

    rpm1 cost 1250.00 for two years.
    Claims paid in that two years 2200.00

    discountesp 1185.00 for 3 years
    monies saved carried over from rpm1, 950.00 which works out to the new policy basically costing me 235.00 for 3 years of warranty over what I'd have shelled out for repairs had I not had an extended warranty. I believe that's what some might call a no brainer.

    I'll sell the bike at the end of the current extended warranty and purchase another with a factory warranty, taking another extended warranty at that time from the dealer. By the time that bike and extended warranty run out, I'll likely be ready to stop riding. It'll put me somewhere around 77 year of age.
    The lion does not even bother to turn his head when he hears the small dog barking.

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