Guys & Gals,
I know that various people have recommended Warranty Direct - but has anyone had any experience of them that they feel worthy of sharing?
I've got a quote of £18.91 for my 2000 Pug 406 HDi that seems to cover virtually everything, including recovery, which means I can cancel my RAC cover, saving my hard earned cash.
Cheers - I've said it once and I'll say it again. This site is full to brim of people who 'know their onions'!
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Try a like for like with Warrantywise before you press Go
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I currently have a car that has 12 months Warranty, and to be honest IMHO they arent worth the paper they are written on, read the policy very carefully, epecially the parts that are covered, and bear in mind that some companies will only pay a set amount for the labour, usually in the region of £25, so if you take your car to any thing than there specified/authorised garages, i.e main dealer you will have to pay any excess labour charges. Also, for me this is important, the part that fails ONLY is covered and not any subsequent damage that the failure of the covered part may cause. So if your water pump fails and causes your car to overheat and damages your head gasket, then only the water pump is covered nothing eles. This is only my experience of warranties and I am not saying Warranty Direct coducts there polices in this mannner. Good luck.
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On reading the small print,
The car has to have been serviced by a VAT registered garage in accordance with the manufacturers instructions from new +- not many miles!
Only covers parts that break down not failed parts that have been spotted during maintenance.
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Hi DB,
Not a lot of knowledge about onions, but I'm not too sure the warranty sounds such a good idea. Just make sure it really does give you all it says on the tin. £18.91 just sounds suspiciously low to me, having just had the shock of my life getting RAC cover for the first time.
Now, ask me about leeks and I might be able to be more helpful ;)
HF
Old Trout.
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If you shop at Tesco's and have a ClubCard, one of the items you can get discounted is RAC membership. Every so often Tescos send out vouchers (amount dependent on your spend) which are worth face value in the shop, or two or four times face value against "specially selected" items in the brochure.
I hadn't realised the potential value of these - friends went to Iceland (the place, not the shop) for a long weekend using vouchers.
This year I have bought heavily discounted RAC membership, and two MOTs (at specific garage chain). There are loads of days out, theme park, video hire, ferry, health and beauty and travel offers in the brochure. Much better to use the brochure than spend them in the shop...
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They're not warranties, but 'Mechanical Breakdown Insurance'. In my experience of dealing with them from the repairers side, they only ever cover 'sudden mechanical failure'. Virtually everything else comes under 'wear and tear'. That means leaking radiators, knackered starters and alternators, blown exhausts, busted water hoses, a/c leaks, ball joints etc, is all wear and tear.
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DieselBoy - I hope you realise that's £18.91 per month.
Ian
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Yes, I am aware that is per month...
Not sure whether to bother now. I'll get my hands on a copy of the policy document and have a read through..
Cheers All.
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I worked for a number of years for one of the major 'warranty companies'. As has already been said elsewhere in this thread, it is not warranty you are buying, it is insurance against the failure of specific parts on/in your car/van. This is usually defined as 'sudden mechanical failure' within the small print. How this is defined is very much a subjective opinion, usually of the 'claims engineer' at the suppliers of the policy.
All these companies work in the same basic manner: they employ actuaries, who crunch numbers to work out an acceptable(to them) risk of each covered part failing and approximately when. The longer they have been in business and the wider the portfolio of vehicles they have covered, the more accurate these figures become. They then set a 'premium' covering the list of parts they offer to cover (varies with policy type and company) and add in their profit margin and administration costs. Then they sell it to you via a number of different channels (some manufacturer approved used programmes are underwritten by this type of company) including the net. When you have a problem, they estimate how much the cost will take out of your insured 'pot'and will then approve, part approve or reject your claim. The closer the cost of repair gets to the 'pot', the more they will try not to pay. They usually look for a 'burn' rate (money spent against money taken for the 'pot')of no more than 70%. So, if your 'pot'is £100.00 & the cost to them of repairs is less than £70.00, they will normally pay it. Over that, they'll argue like hell!!
This is a rough outline of how this works. It is a complex and interesting subject. There are some good and some very bad guys in this business. Stick to a company who administers used vehicle schemes (not a scheme, but several) for the manufacturers and you should be OK.
Cheers,
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