When I was young (a long time ago) and poor and couldn’t 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 haven’t had a major repair thankfully) I can go to my bank, get the money and I don’t have to argue with anyone.
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Extended Warranty Companies
- Thread starter 1957mpd
- Start date
dogsbody
New member
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.
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.
brownie0486
Well-known member
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.
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.
