Extended Warranty, which one best?

I am thinking on an extended warranty for my bike, my warranty will be due on Feb 2013.
Which one you guys recommend?
Any thoughts and experiences are welcome

Thanks

Damian

Just keep in mind an "extended warranty" is really nothing but an insurance policy against major component failures and labor costs. So make sure you read and understand all that the insurance policy really covers and what it does not cover. Just like health/life insurance you are at the mercy of what the policy originator decides to cover. Plus there will almost always be a deductible or copay. Consider what that will cost versus the purchase cost. Also look close at what something like a clutch job costs and what it will cover. Not really a warranty in my book.

Consider the actual payback for the cost of an extended warranty versus what you might likely pay. Make sure it covers or differentiates between what is repair costs of "maintenance/wear" items like a clutch assembly versus something major line a final drive failure.

The clutch is a normal wear item, like tires, batteries, fluid changes, etc.

If you plan to keep the bike for many, many years, and if you don't wrench on your bike yourself and never intend to do it, then the policy may be worth it.

Contego

[QUOTE=ANDYVH;819618]Just keep in mind an "extended warranty" is really nothing but an insurance policy against major component failures and labor costs. So make sure you read and understand all that the insurance policy really covers and what it does not cover. Just like health/life insurance you are at the mercy of what the policy originator decides to cover. Plus there will almost always be a deductible or copay. Consider what that will cost versus the purchase cost. Also look close at what something like a clutch job costs and what it will cover. Not really a warranty in my book.

Consider the actual payback for the cost of an extended warranty versus what you might likely pay. Make sure it covers or differentiates between what is repair costs of "maintenance/wear" items like a clutch assembly versus something major line a final drive failure.

The clutch is a normal wear item, like tires, batteries, fluid changes, etc.

If you plan to keep the bike for many, many years, and if you don't wrench on your bike yourself and never intend to do it, then the policy may be worth it.[/QUOTE]

I agree. It's a high profit insurance policy with a lot of loopholes. If you get one, read the fine print very carefully.

Contego.

thx,
ed

Seems fairly obvious that the best is the one your BMW dealer likes best.

[QUOTE=lkchris;819873]Seems fairly obvious that the best is the one your BMW dealer likes best.[/QUOTE]

No, the dealers get a 100% markup on warranty sales and I don't need to line their pockets. A six year warranty with Contego Direct with a $50.00 deductible was less than five hundred bucks. The dealer wanted over eleven hundred dollars for a five year warranty with similar benefits and exclusions.

Yes, but will your dealer honor that warranty?

You've already got two strikes against you if you have to fight them.

Alternator and ZFE replaced at Sierra BMW. There was no question of them "honoring" the warranty. I called Contego from the service department and the Contego guy gave the service manager a credit card number to charge the repairs to. As far as "my dealer" honoring the warranty i couldn't care less as there are other dealers in the world if mine decides to be a butt hole.

[QUOTE=Greenwald;819696]Contego.[/QUOTE]


Could you please let me know the website for Contego direct?
I am looking for it but I can't find it online.

Thank for your help

Damian

I don't believe in the concept of an extended warranty for any vehicle. I figure anything major will happen in the first three years/36k miles. The extended warranty is usually full of loopholes, and normal wear and maintenance are excluded.

The biggest reason is this: Extended warranties are a profit item for the insurance companies. That means, they expect to profit handsomely from it. Profit means revenue less expenses. Which means you should pay for your expenses and not pay the insurance company their profit margin. It is cheaper that way. And one can safely assume the insurance company has done the probability math/chances of a breakdown for your vehicle forcing them to pay. Most consumer magazines do not recommend them.

Besides, when dealers ask me about them, I respond, "What? You've sold me a piece of junk? I thought you only sold good vehicles." Based on past experience, I would have never collected on any extended warranty.

The only caveat I have regarding the extended warranty was about the exclusions. I was looking for one with my 1150RT. I was most concerned with the electronics like the main computer and abs system. I saw that the abs was excluded on the two that were available at that time. That made the purchase a non issue for me so I passed.

When I purchased my 08 RT used from a private party it came with a service contract ($50 transfer fee). I don't know what the original purchaser paid for it. I used it about a month ago for a new fuel strip and the dealer (Tri Valley in Livermore) said that it was one of best for him to deal with.

The guy I bought the bike from said he bought it because of the final drive issues. There are three levels and this one is the highest and covers a lot. No deductible and good til June of 2015. For $50, a good deal for me.

Tom

[QUOTE=damiangs;820028]Could you please let me know the website for Contego direct?
I am looking for it but I can't find it online.

Thank for your help

Damian[/QUOTE]

I looked for them several months ago with no luck.