Mechanical Insurance

[m325i 705]

Hello,

There are many companies offering mechanical insurance. Can anyone suggest one?

They all vary with the little details. One of the better ones i have seen is the following:

$1070 for 3 years

$125 excess

Max claim Purchase cost of vehicle

Are small frims like this dodgy?

Has anyone had any experiance with warranties?

Do they actually pay out? lol.

Any comments welcome.

Seems like a good idea when things like big end bearings in my car cost $4k+++

Edited October 31, 2006 by m325i

[Queen of Beemas 0]

My experience (having worked in the industry) they are generally quite good...but the occasional insurance company lays a LOT down as 'wear and tear' and therefore dont fork out...

From memory, in the 'Proteca' booklet that you get with the insurance (i.e where you stamp your services every 10,000kms) there was a full 2 page spread on what IS covered...perhaps worth asking whether they can provide this

It also works well where you know your mechanic...at my old work we disputed with the insurance company that the item that needed replacing (on a clients car) wasnt 'wear and tear', I think it went to small claims or disputes tribunal or something...Client WON!

Hope that didnt put you off...

Out of interest what kind of car is it and how many kms?

Edited November 1, 2006 by Queen of Beemas

[B.NOR.T 0]

be careful cos it only covers wear and tear.... not cos it broke while you was doing burn outs... read it through carefully...

[m325i 705]

98 STI with 77km.

Yeah i realise 'wear and tear' things aren't covered. But its the big stuff that worries me, like 'boxes and motors.

That link i put in above, do you reckon 'smaller' firms like that are sweet?

Or should i go with larger firms like Lumley etc?

[Queen of Beemas 0]

I havent heard of them before...

But just checked the company out - "Contractor Bonding Limited", they were incorporated in 1973 and an inside word says they're not dodgy PM me if you want to know more

[318Touring 40]

How does one get to buy Autosure warranty?

Sent them an email once, and nothing .....

[kiwipetrolhead 1]

This type of "insurance" has been around for many years, and like some others point out, it does not cover wear and tear. That usually means things like brakes, clutches, tyres, cam belts and exhausts are not covered, and you have to keep to their (often over-the-top and expensive) service schedule for the"insurance" to remain valid.

Like another poster in this thread, I used to work in the motor trade too, and I worked for lots of car yards that sold these packages. However, unlike the poster who says this insurance is good, I personally would not waste my money on it. (Perhaps the other poster is in the trade where he sells these things. )

When I purchased my 540i 2 years ago I was offered this insurance, but I won't touch it with a barge pole. (Mostly I purchase privately, but the 540i was one rare exception).

BTW, on the matter of purchasing from a car yard, if you go in with cash and no trade-in, you can save a massive amount of cash - you can bargain them down from the asking price and get the car at a price that is more inline with what you'd expect to pay if you purchased from a private seller. If you pay by cash and stay well clear of interest-bearing HP deals, the massive amount you will save would more than pay for any big repairs you MIGHT have to do to the car. Because of the big savings I made by negotiating with cash, that's the only reason I now own a 540i! So stick to your guns too - it does work (or be prepared to walk away from the 'deal').

Cheers

Paul

How does one get to buy Autosure warranty?

Sent them an email once, and nothing .....

Lucky you - you saved wasting your cash!

Paul

Had an Autosure warranty on all the Subarus i owned (3) , fantastic service paid out heaps , no arguments as long as you did the service, would recommend them any time.

Would NOT own a subaru without such a warranty, would not own another subaru actually, kept on falling to bits with 2 to 4 thousand dollar bills every 6 months.

OK, I admit there are a few exceptions where these things to actually pay off. But like you say, if they pay off, chances are the car is a heap of sh*t, so get rid of it fast. And Subarus certainly are very expensive for parts and repairs, especially for a Japa car.

Cheers

Paul

I havent heard of them before...

But just checked the company out - "Contractor Bonding Limited", they were incorporated in 1973 and an inside word says they're not dodgy PM me if you want to know more

Yip, looking at this thread even further now, I am now totally convinced that 'Queen of Beemas' is in the insurance trade - a car dealer tied to this outfit or maybe even a direct employee of "Contractor Bonding Limited" itself!

Paul

[Carl 3]

I've had this once, personally thought that in the end it was a serious waste of money, you really need to read what is and what is not covered...and then there's still the excess

[kiwipetrolhead 1]

Some one else might be in the trade but I am not. Comments are valid - for an import like a Subaru I would always go with the insurance, and I always service to manufacturers specs with no knock of or lesser grade parts, so they always pay out.

Both our current cars are NZ new BMW's and no mechanical warranty , and to date (4 years) no surprises.

As a mate of mine in the trade said when I was looking for a "genuine low milage import'

"you can have a genuine or low mileage car but not both"

Yes, I was referring to "Queen of Beemas", and not you "3pedals". And yes, in certain circumstances this sort of insurance might be a good idea, but really, if it is needed then I'd say you should NOT buy the car. The insurance doesn't cover everything and it don't last forever, so it will cost you sooner or later if the car is a lemon.

Cheers

Paul

[m325i 705]

BTW, on the matter of purchasing from a car yard, if you go in with cash and no trade-in, you can save a massive amount of cash - you can bargain them down from the asking price and get the car at a price that is more inline with what you'd expect to pay if you purchased from a private seller

Thanks Einstein

the warrnaty i have does cover wear and tear things, but not stuff like clutches, shocks and brake pads. But does cover things like wheel bearings and bushings.

Excess is $100, with claim limit to value of the car.

And yes they do pay ut. Snow Mooney, (Possum Bournes old mechanic) is their prefered repairer and reckons they have no issues paying out.

My old man has had 2 e46 gearbox rebuilds on a warranty.

I used to think they were a scam, but from my investigatons they seem fair with payouts and the excess is low and they cover things that i wouldnt have thought.

Put it this way if you bought a european or performance car do you really think that nothing would go wrong with it in 2 years?

You'd be very lucky IMO. I spend thousand on my old e30, and it was a resonably good one. Its totally worth it for the piece of mind alone.

Dont know about you guys, but if i hear the smallest noise i start to worry used to worry.

[martyyn 2]

Put it this way if you bought a european or performance car do you really think that nothing would go wrong with it in 2 years?

I do....totally.

As long as the car is looked after I wouldnt expect anything else to go wrong other than wear and tear. I always go over any car I buy at least twice and usually get someone else to aswell. If there is anything even slightly wrong I either get the seller to fix it (to my satisfaction) or bring the price down so I can fix it myself.

Ive so far clocked up 6 years with an e32 750iL and an e38 740i (both extremely expensive cars to fix - and both IMO with unfair reputations for things going wrong) and had nothing out of the ordinary happen.

Id rather save my insurance pennies to keep the car in top condition. Look after the car and it will look after you.

Just my 2 cents

[m325i 705]

I service all cars i have owed regulary. I maintain them to a tee.

A loaping 7xxi is probably a bit different, but I think you are being naive to think that you will have no problems with a ~10 year old 'performace' car within 2 years of owbership.

It only takes one claim and you are 'even', add to that the piece of mind, (worth a lot to me).

I spent thousands on Hybrids m325i, and it was a very well maintained straight vehicle.

Yes you could get lucky, but im my experience, its like playing A7, you'd need help.

The people who are against warranties obviously haven't been stung. I have had the feeling many many times. The sweetness of something happening and paying only $100 (excess) to fix a $6k motor is worth tit IMO.

[318Touring 40]

So m325i, which warranty did you buy at the end?

[m325i 705]

So m325i, which warranty did you buy at the end?

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