Extended warranty options

[Digtlartst]

And therein is the potential problem...will it be there? Will the underwriter still be solvent and will claims be honored? These companies come and go, and all their underwriting is completed at time of claim, based on their very fine policy print.

You can't predict honoring claims but longevity of the underwriting company need not be a factor in that. Some companies have come and gone but there are several longstanding companies out there. I've had two Zurich contracts partly because Zurich's been around as an insurance company for 100 years. That's no guarantee of quality but I had excellent service from them and they honored every claim I made (they lost money in claims over the term of one contract; on the other I got a pro-rata refund). That the repairing dealer also sold me the policies may have helped claims acceptance but who knows.

 

[gsinnc]

You can't predict honoring claims but longevity of the underwriting company need not be a factor in that. Some companies have come and gone but there are several longstanding companies out there. I've had two Zurich contracts partly because Zurich's been around as an insurance company for 100 years. That's no guarantee of quality but I had excellent service from them and they honored every claim I made (they lost money in claims over the term of one contract; on the other I got a pro-rata refund). That the repairing dealer also sold me the policies may have helped claims acceptance but who knows.

It just seems to make sense that the dealer selling me the policy has the most experience with the underwriter and is best suited to guide me. I am fortunate that I trust my dealer and they have always been stand up guys. When I asked why they were suggesting RPM One vs Zurich they provide a detailed logical explanation. Honestly even though I am truly a "worrier" even I don't worry about the issuing company being around.

 

[ncpbmw1953]

I wanted to get an extended warranty but my local dealer all but refuses to do work under an extended warranty plan. I put lots of miles on my RT and the OEM warranty will expire due to miles right at the 2y mark. Makes me wonder if I should plan on trading it in on a new one, which I really don't want to do as my '16 has been flawless now at 22.7K miles.

 

[ncpbmw1953]

I wanted to get an extended warranty but my local dealer all but refuses to do work under an insurance plan. I put lots of miles on my RT and the OEM warranty will expire due to miles right at the 2y mark. Makes me wonder if I should plan on trading it in on a new one, which I really don't want to do as my '16 has been flawless now at 22.7K miles.

While I'm here, can anyone comment on which carrier has the best coverage, is the most reliable to buy?

 

[gsinnc]

I wanted to get an extended warranty but my local dealer all but refuses to do work under an insurance plan. I put lots of miles on my RT and the OEM warranty will expire due to miles right at the 2y mark. Makes me wonder if I should plan on trading it in on a new one, which I really don't want to do as my '16 has been flawless now at 22.7K miles.

While I'm here, can anyone comment on which carrier has the best coverage, is the most reliable to buy?

Or find a new dealer

 

[Digtlartst]

Or find a new dealer

+1

Dealer refuses insurance repairs? I sure wouldn't buy a new bike from them and I'd let them know why.

 

[ncpbmw1953]

The local dealer is legendary for service quality and otherwise and people ride in from 100's of miles to access them--and they're 14 miles from my house. They're really best as far as solving problems, getting things covered under BMW warranty, and I am to help keep them around though they've been here over 40 years, opened by a German BMW racer and now is operated by his grandson or nephew.

What I was asking was which policies turn out to be the best as far as claims goes so I can go back and put it to the dealer again as it's been 3 years since I brought up the question. One option I do have is to pick up a policy and use another shop 90 miles from home if there is an extended warranty claim which I would have to do anyway if the local shop wouldn't play.

I will ask them again and decide if it's worth pre-paying for repairs which is what it amounts to.

One very big question I also have on extended warranties is what is exactly covered. How about the ESA shock? I've heard some plans consider them consumable so won't cover them. Of course, we know carriers of these plans pay out less then they collect so odds are in our favor going into it.