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      07-08-2019, 04:35 PM   #1
TexasBruiser
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Insurance and Extended Warranty

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Who has experience (and cost information) on the value of extended warranties and how claims went (if any filed)?

I just obtained a 750i xDrive almost $8K below average market proce in my area with only 38K miles. So far, per CARFAX and the dealer search by VIN, there have been ZERO warranty repairs - except for replacement of the A/C Compressor back in 2016.
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      07-09-2019, 04:54 AM   #2
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FWIW, I bought a 2016 with 50,000 miles on it a few months back. It was CPO'd, so still under that warranty until 5/31/21. I bought an extended warranty through my local BMW dealer to extend the CPO warranty another 3 years, with a max of 100,000 miles. I only drive about 9K per year, so I'll probably not hit that mileage number anyhow. The warranty is through Assurant who administers the BMW factory warranty. Total price for the extended warranty was $4507 and that gets me $0 deductible if I have the work done at my local dealer, and also was payable monthly over the course of a year with 0 interest. So officially I am prepaying an average of $125 per month for full warranty to cover me 3 years past my CPO. In the case of any major failure, it more than pays for itself. If the car never has any issues whatsoever, it paid for peace of mind that allowed me to sleep well during the next several years. haha
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      07-18-2019, 11:02 AM   #3
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I’ve just gone past my 50k miles and 3 year warranty cover on my 2016 730d here in the U.K. and other than the A/C compressor needing changing nothing needed to date but when I checked the extended warranty price for me it was a very unattractive £2,400 / year (which was the same as when I checked my previous 7 F01 back in the day so obviously said no!) I can save some on the side myself and accept the risk given this alternative! Looks like at least a better deal in the US...BTW, didn’t have any issues with my last F01 and it was 6 years old and had 113k on it when I traded it for the current G11. I do about 18k miles / year but mostly highway miles.
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      07-18-2019, 11:51 AM   #4
cracker123
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Quote:
Originally Posted by pcrispy View Post
FWIW, I bought a 2016 with 50,000 miles on it a few months back. It was CPO'd, so still under that warranty until 5/31/21. I bought an extended warranty through my local BMW dealer to extend the CPO warranty another 3 years, with a max of 100,000 miles. I only drive about 9K per year, so I'll probably not hit that mileage number anyhow. The warranty is through Assurant who administers the BMW factory warranty. Total price for the extended warranty was $4507 and that gets me $0 deductible if I have the work done at my local dealer, and also was payable monthly over the course of a year with 0 interest. So officially I am prepaying an average of $125 per month for full warranty to cover me 3 years past my CPO. In the case of any major failure, it more than pays for itself. If the car never has any issues whatsoever, it paid for peace of mind that allowed me to sleep well during the next several years. haha
That seems like a good deal, CPO is Unlimited miles but Assurant is only 100K right.
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      07-19-2019, 04:13 AM   #5
pcrispy
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Quote:
Originally Posted by cracker123 View Post
Quote:
Originally Posted by pcrispy View Post
FWIW, I bought a 2016 with 50,000 miles on it a few months back. It was CPO'd, so still under that warranty until 5/31/21. I bought an extended warranty through my local BMW dealer to extend the CPO warranty another 3 years, with a max of 100,000 miles. I only drive about 9K per year, so I'll probably not hit that mileage number anyhow. The warranty is through Assurant who administers the BMW factory warranty. Total price for the extended warranty was $4507 and that gets me $0 deductible if I have the work done at my local dealer, and also was payable monthly over the course of a year with 0 interest. So officially I am prepaying an average of $125 per month for full warranty to cover me 3 years past my CPO. In the case of any major failure, it more than pays for itself. If the car never has any issues whatsoever, it paid for peace of mind that allowed me to sleep well during the next several years. haha
That seems like a good deal, CPO is Unlimited miles but Assurant is only 100K right.
That's correct. You can get more miles, but of course it costs more. CPO is unlimited because they are only dealing with a vehicle up to 5 years old. Extended warranty is potentially dealing with a vehicle 9 years old, so the wear and tear with high miles could really add up over that time.
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      08-05-2019, 03:21 PM   #6
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Correct me if I'm wrong. Non-CPO extended warranties, whether purchased through a BMW dealer or third parties, are actually just an INSURANCE policy to cover the cost of repairs, much like accident insurances. As such, they usually carry a maximum total payout for the duration of the policy ($15k being a common number).
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      08-05-2019, 05:54 PM   #7
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Quote:
Originally Posted by TexasBruiser View Post
New thread.

Who has experience (and cost information) on the value of extended warranties and how claims went (if any filed)?

I just obtained a 750i xDrive almost $8K below average market proce in my area with only 38K miles. So far, per CARFAX and the dealer search by VIN, there have been ZERO warranty repairs - except for replacement of the A/C Compressor back in 2016.
After my experience with the N63 in the 550i, no way I'd own another twin turbo V8 BMW out of some type of warranty. Route 66 Easy Street coverage is great but they don't cover they don't cover 7 series. Texans Credit Union offers a named exclusion comprehensive warranty for the 740i at about $3k. I'll be buying that once the end of my CPO is near. I'm not sure if they cover the 750i but you might want to check with them.
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      08-05-2019, 06:00 PM   #8
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Quote:
Originally Posted by jlin101 View Post
Correct me if I'm wrong. Non-CPO extended warranties, whether purchased through a BMW dealer or third parties, are actually just an INSURANCE policy to cover the cost of repairs, much like accident insurances. As such, they usually carry a maximum total payout for the duration of the policy ($15k being a common number).
The ones I've had experience with limit total payouts to the most recent blue book value of the car.
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      01-02-2020, 06:11 PM   #9
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I know this is an old topic, but GWC warranty company is garbage for these cars.
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      01-02-2020, 08:02 PM   #10
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Be leery of all warranty companies outside of BMW itself. I learned this the hard way when I bought a 3rd party warranty through a Nissan dealership with one of my company vans. Was supposed to cover roadside assistance, wheel/tires, and any dents or dings that didn't require paintwork. I used the roadside a few times over about two years, but year by three I had some dents and a tire I needed replaced and get this: the place went out of business! No phone number, no new mailing address, nothing. All attempts to contact them were a dead end.
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      01-09-2020, 12:29 PM   #11
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Quote:
Originally Posted by manapiko View Post
I know this is an old topic, but GWC warranty company is garbage for these cars.
Avoid GWC...They are the reason aftermarket warranties have a bad rep. Research before purchase, there are good ones out there.
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      01-10-2020, 12:09 PM   #12
manapiko
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Yup, I for sure failed on the research side.
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      01-11-2020, 01:48 PM   #13
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I just purchased the 3 more years of the Gold warranty from BMW for $6,000. Covers everything except for the Infotainment system. Warranty does not cover maintenance though. That is an additional $3,000.
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