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Extended Warranty Companies

jseven said:
I remember an old contract law professor in college years ago lamenting on how " warranties always favor industry, this includes extended warranties." This advice has served me and saved me well through the years.
Click to expand...

Of course they do - or they wouldn't be offered.

But when you suffer an expensive breakdown, they favor YOU.

Like when a particular issue (say, FD's) affects only a small percentage. When it affects YOU, the percentage is now 100%.

All a matter of perspective.

Just sayin.'
 
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?
 
I have no experience with this company. To me an important question would be how long your dealership has been selling their product and what their claim payment history has been. If RPM One pays the dealership directly for covered repairs, that's a plus vs. you paying and then having to negotiate whether its reimbursable.
 
Two more questions for RPM One: Is their warranty transferrable if you sell the bike before year 7? And does it apply if you use up the 36000 mile portion of the BMW warranty early, or must you wait 36 mo. before it applies?
 
sailorlite said:
Two more questions for RPM One: Is their warranty transferrable if you sell the bike before year 7? And does it apply if you use up the 36000 mile portion of the BMW warranty early, or must you wait 36 mo. before it applies?
Click to expand...

Excellent question re: using up of the factory warranty early- thanks!
 
jammess said:
Actually when it comes to buying a motorcycle there is just no way I would ever buy new especially BMW. The local dealer told me that the only way I could get a discount on the extended warranty is to buy the coverage at the time I bought the bike. If not the cost would be a full $2K later on before the 3 year warranty expires. That's another rip off from BMW as far as I'm concerned.
Click to expand...

Sometimes you get a great discount on BMW accessories or clothing when you buy a new bike ... is it a rip off if a dealer doesn't offer this to buyers of used bikes or maybe just anybody? Your thinking is immature.


jammess said:
It was really nice to be able to save about $100 the other day when I bought a new improved rear shock for my 2010 FJR from a third party no dealer involved. Try that for new BMW OEM parts. This was a new Yamaha OEM shock for the 2017 FJR which is an exact fit on all previous FJRs. Then I sold the used shock to a guy with a 2004 FJR and he even bought me lunch.:)
Click to expand...

Very few manufacturers allow third parties to sell new OE parts and they certainly aren't required to ... in any event many BMW riders purchase aftermarket shocks they consider better than OE.

Your arguments are really weak. When you stop beating your head against a wall, your head will stop hurting.
 
Evening Kent, immature I may be but it would be a cold day before I would shell out for a new BMW what with their fantastic reputation for value and rep for standing behind their product. As far as BMW clothing or accessories are concerned.....big deal! If only I had a buck for every time I removed those 26 screws removing the tupperware on my '04RT (purchased new) to slave away on that pride of the Bavarian Motor Works motorcycle I could retire again. There, I feel better having said all that.:wave
 
Well said, jammess.

Just a thought...how about a sticky thread on Extended Warranties? Have those who purchase one, include the source of the Extended Warranty, i.e. the salesperson and phone number or website. And cost.

The information is readily available on the Suzuki and Honda forums I've been a member of before. There's no secrets there, and everyone is very willing to share where to find the best deal. Since the BMW extended warranty is not from BMW itself, but from a third party...you should be able to buy it from someone anywhere in the USA. The information here is just not readily available.

Chris
 
Voni and I have ( between us) had 24 or 25 BMW's, 4 Yamahas, 1 Suzuki, 1 Kawasaki, 2 Hondas, and one HD Shortster. Six or seven have been brand new. We have between us accumulated just about 2 million BMW miles plus another 65K miles or so on other assorted brand bikes.

We just bought two brand spanking new BMWs - 310GSs. We have never had an extended warranty and have had few actual manufacturer warranty claims on any of the new bikes.

We also have never had a final drive failure except a deformed axle tube on an F800. I also do most all maintenance which might or might not be relevant. I didn't think about extended warranties on the 310s. I just want centerstands - just ordered after market from Thailand which arrived in three (3) days from Thailand.
 
wjrich100 said:
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?
Click to expand...

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. :dunno
 
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.
 
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.
 
greenwald said:
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. :dunno
Click to expand...

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
 
Extended Warranty

1957mpd said:
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.
Click to expand...

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
 
charlesodle said:
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
Click to expand...

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?
 
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.
 
Rpm

greenwald said:
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. :dunno
Click to expand...

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.
 
1957mpd said:
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?
Click to expand...

The mileage cap. In Alabama, I can and do ride all year except when we get the rare snow storm.
 
Extended warranty companies.....

1957mpd said:
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?
Click to expand...

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.
 
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