Mechanical Breakdown insurance

[bimmer456]

Is $1400 a good deal for 3 years 36k miles for mechanical breakdown insurance?

[DanG]

I never buy any mechanical insurance. You are usually ahead just by saving that amount in case you have a mechanical problem.

[bimmer456]

Originally Posted by DanG

I never buy any mechanical insurance. You are usually ahead just by saving that amount in case you have a mechanical problem.

My car has 108k miles though and if the ZF transmission goes this would cover it.

[dgoldenz]

There is no way a $1400 policy on a 108k mile car covers much of anything. Your post contains little to no actual information on anything you’re asking about.

[bimmer456]

Originally Posted by dgoldenz

There is no way a $1400 policy on a 108k mile car covers much of anything. Your post contains little to no actual information on anything you’re asking about.

Here's a screenshot of what it covers. There's no deductible thought it only covers up to $3500. I guess I could just keep $3500 available but still this is about half that or a little less.

[Alfisti]

You 'mericans love your insurance. Roll a dice for once.

[dgoldenz]

Originally Posted by bimmer456

Here's a screenshot of what it covers. There's no deductible thought it only covers up to $3500. I guess I could just keep $3500 available but still this is about half that or a little less.

So you’re paying $1400 to insure against a potential $3500 expense. Thats a terrible deal. I’ve never seen one of these with such a low cap before.

[dreamingat30fps]

The way I see it, if the odds were in my favor, then they would be out of business. You could get "lucky" though. Some people do hit the jackpot sometimes, but statistically the house always wins.

[bimmer456]

Originally Posted by dreamingat30fps

The way I see it, if the odds were in my favor, then they would be out of business. You could get "lucky" though. Some people do hit the jackpot sometimes, but statistically the house always wins.

I have 60 days to cancel for full refund (assuming no claims) still thinking about it, if I keep it and cancel later then it's pro rated.

[XutvJet]

I put this up there with extended warranties. Total waste of money. If you can't afford a high 4 figure repair, these aren't the cars for you. The 2 series is extremely reliable, but expensive things can happen, but it's very rare.

Also, if you have any performance mods, the warranty coverage will very likely be denied. These warranty companies have a vested interest in taking your money and paying out as little as possible and finding excuses as to not wanting to pay.

Get your money back and invest it.