[fusion0389]

Originally Posted by Msmall143

why would you consider an insurance company reporting a claim as a claim, a scam?

Its in how they sell it, they advertise it no differently than BMW or any warranty company advertises their extended warranty. They do not tell you the negative consequences for using the Mechanical Breakdown coverage... I can submit as many claims as I want with BMW Extended coverage without worrying about my eligibility to change insurance carriers, damaged clue report, or increased premiums. Its not a scam because they report the claim, its a scam because of how they sell it and that its recorded in a way that negatively affects the user. Most warranties I've purchased have paid for themselves at least once... I put high miles on my cars and keep them many miles and years past the OEM warranty. It usually works out in my favor.

[fusion0389]

Originally Posted by pruettfan

I actually don't have a problem with this really, it is insurance so that makes sense they report it as a claim. When you do the math on what the extended warranties cost I think on balance the Geico coverage is a better way to go. Each person has to make their own decision based on their risk tolerance. I am anti extended warranty because I don't think they pay off most of the time, this plan is cheap and makes it a no-brainer for me.

If you don't ever really use it then its a great investment because it costs you very little. However, if you get a car, two cars, three cars that are all covered and each car requires 2-3 mechanical repair claims a year individually then it could have a negative effect as it did on me. For a household with 2 cars that each have an average of 2.5 claims a year for three years that's 15 claims on the policy... That doesn't count any glass, comprehensive, or collision claims that one might make during the same time period. I guess this might not matter to some, that's perfectly ok, just sharing my experience with the product.

[pruettfan]

Originally Posted by fusion0389

If you don't ever really use it then its a great investment because it costs you very little. However, if you get a car, two cars, three cars that are all covered and each car requires 2-3 mechanical repair claims a year individually then it could have a negative effect as it did on me. For a household with 2 cars that each have an average of 2.5 claims a year for three years that's 15 claims on the policy... That doesn't count any glass, comprehensive, or collision claims that one might make during the same time period. I guess this might not matter to some, that's perfectly ok, just sharing my experience with the product.

Sounds like the problem is unreliable cars. I can't imagine having 2-3 repairs a year from a three car fleet each year over 5 years. Sounds like you have a fleet of lemons. I drove my E90 3 series 215,000 miles and it saw the dealer for repairs 3 times in 10 years.

[fusion0389]

Originally Posted by pruettfan

Sounds like the problem is unreliable cars. I can't imagine having 2-3 repairs a year from a three car fleet each year over 5 years. Sounds like you have a fleet of lemons. I drove my E90 3 series 215,000 miles and it saw the dealer for repairs 3 times in 10 years.

Four drivers in the house, cars saw ALOT of miles! Repairs were not necessarily serious. Wheel bearings, ignition coil here and there, AC or Heating issues, you know its stupid stuff that is nice to have covered. The last vehicle to be retired from the fleet was a beater Ford Taurus with 365,000 miles. Averaged 25,000 a year. Admittedly, the BMW's have been virtually problem free so far.