Aftermarket warranties
Discussion
Warranties are gambling, pute and simple. The insurance company works out the odds, adds a fair few percentages and the works out the premium. They also have to take into account the possibility of people telling lies and cheating, the cost of an assessor's time, and all that sort of thing.
If it comes from a dealer then they get a price reduction.
That said, I took one out on a Renault and I gave it a hammering. Three claims in a bit over four months, so they can be worth it.
All you have to do is work out whether the risk or the extra cost is most affordable.
A lot will depend on the car. If the engine has had a recent rebuild is one thing I would consider. Also have a chat with the company that serviced the thing.
Check the small print. Some can be very restrictive. That said, my clutch went on my Renault, not covered by the insurance. When it was stripped the main oil seal was found to be leaking although it did not contaminate the clutch. The garage suggested I ask for the cost of the strip down and replacement of the oil seal. The insurance company paid for the clutch, pressure place and bearing as a sign of good faith.
That was my first claim. I'm not sure they would have done so by the third.
If it comes from a dealer then they get a price reduction.
That said, I took one out on a Renault and I gave it a hammering. Three claims in a bit over four months, so they can be worth it.
All you have to do is work out whether the risk or the extra cost is most affordable.
A lot will depend on the car. If the engine has had a recent rebuild is one thing I would consider. Also have a chat with the company that serviced the thing.
Check the small print. Some can be very restrictive. That said, my clutch went on my Renault, not covered by the insurance. When it was stripped the main oil seal was found to be leaking although it did not contaminate the clutch. The garage suggested I ask for the cost of the strip down and replacement of the oil seal. The insurance company paid for the clutch, pressure place and bearing as a sign of good faith.
That was my first claim. I'm not sure they would have done so by the third.
Smooth Smith said:
Would an S6 be covered if a rebuild was required or would there be disclaimers excluding this work?
There are normally disclaimers for wear and tear, and even though you can argue that the S6 sometimes suffers from very premature wear and tear due to its original specified materials and design, that's usually what causes a rebuild. There are frequently ceilings on the value of a single claim that would rule out a 6k+ engine rebuild too, so definitely check the small print.I have heard plenty of people claim for things like new clutches though, again as long as it's catastrophic failure such as the fingers snapping, so warranties are by no means useless.
The risk/reward gamble is the reason that S6 engined TVRs are relatively cheap; you need to self-insure for the cost of a potential rebuild at some point, unless you have a recent warrantied rebuild from Power or similar.
Pete
md23 said:
Just for a laugh, I got a quote for the Tuscan from warranty direct. Annual premium... Wait for it... £3k. They did however offer a very generous discount for 2 years cover at £5k! I mean come on FFS! Watch this, new engine needed next week now. LOL!
m
3k, that's shocking! I thought 1k was expensive for an M3.m
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