Insured warranty??

[Deleted Member I]

My bike will be two years old in February, and I got the letter to extend the warranty.

Does the insured warranty provide the same or less coverage than the original warranty? I looked through the material on my original warranty and it is a small leaflet with not much information on it. Whilst the insured warranty is a 30 page document ..

From memory there seems to be two ways these insurance policy goes .. type 1 tells you a list of things not included and type 2 tells you a list of things that are included.

What are the big items that I should make sure are included? Final drive seems to be one that comes to mind. What would you call that Right hand cylinder problem??

What about alternatives from companies such as warranty direct? OR are there others?

BMW/Modial is quoting £310 with £100 excess or £362 with no excess

 

[JohnnyBoxer]

My bike will be two years old in February, and I got the letter to extend the warranty.

Does the insured warranty provide the same or less coverage than the original warranty? I looked through the material on my original warranty and it is a small leaflet with not much information on it. Whilst the insured warranty is a 30 page document ..

From memory there seems to be two ways these insurance policy goes .. type 1 tells you a list of things not included and type 2 tells you a list of things that are included.

What are the big items that I should make sure are included? Final drive seems to be one that comes to mind. What would you call that Right hand cylinder problem??

What about alternatives from companies such as warranty direct? OR are there others?

BMW/Modial is quoting £310 with £100 excess or £362 with no excess

Just swap it for a new one and then you'll have nothing to worry about..........

Add up the cost of the warranty @ £362 (like for like basis) and what you will spend on your old bike in terms of tyres/tax and < 6000 mile servicing this year (assuming your bike needs a service in next 6000 miles)

Then subtract that from the cost to change for a new bike and work out whether this is worth it for you

Remember, Tom .........................you hate mechanicals (oil leak on 650GS) and you haven't got the time, knowledege and inclination to work on a bike

Go on, Tom........................you know a new 2010 GS makes sense, because a 1200GS with no warranty is a liability

 

[darkhorse]

It is a dilema, my insured warranty is up for renewal soon, 3rd time around so overall cost would have been circa £1000. I have only had one claim for about £100 .

It is one of things that soon as you dont renew, something big will go wrong, and I suppose now as bike is getting older the chances are getting higher.

If it is piece of mind you are after then go for it.

 

[Wapping]

Ting Tong, me old china...

Does the insured warranty provide the same or less coverage than the original warranty?

Arguably less. Why? The original warranty came from the manufacturer, BuMW. They, as they own the company, can decide to repair as much as they like, right down to giving you a spangly new one if they chose to. So all they have to do is tell you what they will not pay for: Brake pads, which simply wear out, for instance. That makes it quite short.

The warranty you are looking at is an insurance policy, nothing more nothing less. As it is a legal contract it has to define everything in clear detail, listing what it does insure and what it does not.... That makes it much longer. Read it.

As to the value? Well less than a pound a day, including European recovery, does not look too bad. If you want it, buy it. If you don't, don't. I did, others didn't.

Ooooohhhhh, what to do? Toss a coin if you are really unsure and / or spend hours trawling through a topic which has been done to death ad-nauseum in the hollowed pages of UKGSer.

 

[Deleted Member I]

It is a dilema, my insured warranty is up for renewal soon, 3rd time around so overall cost would have been circa £1000. I have only had one claim for about £100 .

It is one of things that soon as you dont renew, something big will go wrong, and I suppose now as bike is getting older the chances are getting higher.

If it is piece of mind you are after then go for it.

I think I am definitely the sort to buy the policy. Just wanted to know if there were other providers AND what the difference were between the original coverage versus this insurance policy.

 

[JohnnyBoxer]

Replied to your PM

 

[Wapping]

Replied to your PM

Me, too.

 

[Beemerman59]

Just swap it for a new one and then you'll have nothing to worry about..........

Add up the cost of the warranty @ £362 (like for like basis) and what you will spend on your old bike in terms of tyres/tax and < 6000 mile servicing this year (assuming your bike needs a service in next 6000 miles)

Then subtract that from the cost to change for a new bike and work out whether this is worth it for you

You still have to buy tyres/tax and pay for servicing on a new bike. If you work on the basis that nothing breaks, the running costs are much the same for an older bike than a new one other than the longer service life parts which need changing and MOT costs after 3 years. It's not a cheaper option to buy a new bike, what it is is piece of mind if anything breaks. If you have the insured warranty you still have piece of mind just a little less of it. You may win or lose - who knows if their bike is going to break down tomorrow, next week, next year or never.

I have the same gamble to decide on by end of March.

 

[JohnnyBoxer]

You still have to buy tyres/tax and pay for servicing on a new bike. If you work on the basis that nothing breaks, the running costs are much the same for an older bike than a new one other than the longer service life parts which need changing and MOT costs after 3 years. It's not a cheaper option to buy a new bike, what it is is piece of mind if anything breaks. If you have the insured warranty you still have piece of mind just a little less of it. You may win or lose - who knows if their bike is going to break down tomorrow, next week, next year or never.

I have the same gamble to decide on by end of March.

Depends if the bike you're are p-exing needs new tyres imminently or has another 6000 miles+ worth of tyre wear, needs taxing, needs a minor or major service, costing £200-450.... etc......................everyone's situation is wholly different and don't forget a new bike comes with 2 years warranty with no excess, so that is worth £724
Also the value of your older bike.................is only going down in Year 3, not up

 

[Beemerman59]

Depends if the bike you're are p-exing needs new tyres imminently or has another 6000 miles+ worth of tyre wear, needs taxing, needs a minor or major service, costing £200-450.... etc......................everyone's situation is wholly different and don't forget a new bike comes with 2 years warranty with no excess, so that is worth £724
Also the value of your older bike.................is only going down in Year 3, not up

If nothing on your bike breaks, and you don't take out an insured warranty, it is cheaper to keep your current bike than trade it in.

If you keep your bike, don't take out a warranty and your final drive fails, clutch seals fail, gearbox breaks, right hand cylinder blows up, ESA fails and you break down in Milano without breakdown cover then yes it would be cheaper to buy a new bike.

Unless I'm missing the point that a BMW dealer will trade your two year old bike for 95% of the cost of a new one in which case I stand corrected and will be down to Bahnstormers tomorrow.

 

[Deleted Member I]

in which case I will be down to Bahnstormers tomorrow.

Go on I dare you

 

[Beemerman59]

Go on I dare you

How much are you daring me for?

 

[JohnnyBoxer]

If nothing on your bike breaks, and you don't take out an insured warranty, it is cheaper to keep your current bike than trade it in.

If you keep your bike, don't take out a warranty and your final drive fails, clutch seals fail, gearbox breaks, right hand cylinder blows up, ESA fails and you break down in Milano without breakdown cover then yes it would be cheaper to buy a new bike.

Unless I'm missing the point that a BMW dealer will trade your two year old bike for 95% of the cost of a new one in which case I stand corrected and will be down to Bahnstormers tomorrow.

No he won't.................... but if you spend £1000 to warranty/service/re-tyre and re-tax your 2-3 year old bike, which won't be worth anymore in value for doing so and you can change for £2-3k.................then a new bike is the way to go

I know plenty of folks that change every 2 years..................rain or shine

Ask yourself..........................a 2+ year old 1200GS/GSA worth in the region of £7-8k and no warranty is a liability you can ill afford

No BMW dealer would sell you a used 1200 without a BMW Approved warranty.....................the reputational risk is too great

 

[Sgt Bilco]

No BMW dealer would sell you a used 1200 without a BMW Approved warranty.....................the reputational risk is too great

JB

It's absolutely nothing to do with the perceived reliability of the 1200. The dealers offer a warranty on their other offerings as well if the bikes are an Approved Used BMW.

All dealers sell there vehicles to the general public with a warranty of some description regardless of make/model etc etc etc. If they don't, it's classed as a trade sale which is a whole new ballgame and a feckin minefield

 

[Parky]

4
Also the value of your older bike.................is only going down in Year 3, not up

...but not down by as much as your new bike will in year 1

 

[Stumpy]

From memory the main difference between the new bike and replacement warranty is that the replacement warranty does not cover corrosion.

As far as companies like Warranty Direct, the biggest issues I see with these is that you have to make all the calls and do the negotiating and may then have to pay the dealer bill while waiting for the warranty company to pay up. If you have the BMW warranty and a decent dealer the dealer staff(who have vast experience of dealing with warranty claims) will deal direct and claim payment direct from them.

 

[Deleted Member I]

From memory the main difference between the new bike and replacement warranty is that the replacement warranty does not cover corrosion.

As far as companies like Warranty Direct, the biggest issues I see with these is that you have to make all the calls and do the negotiating and may then have to pay the dealer bill while waiting for the warranty company to pay up. If you have the BMW warranty and a decent dealer the dealer staff(who have vast experience of dealing with warranty claims) will deal direct and claim payment direct from them.

Cheers!

 

[Beemerman59]

No he won't.................... but if you spend £1000 to warranty/service/re-tyre and re-tax your 2-3 year old bike, which won't be worth anymore in value for doing so and you can change for £2-3k.................then a new bike is the way to go

I know plenty of folks that change every 2 years..................rain or shine

Ask yourself..........................a 2+ year old 1200GS/GSA worth in the region of £7-8k and no warranty is a liability you can ill afford

No BMW dealer would sell you a used 1200 without a BMW Approved warranty.....................the reputational risk is too great

So in terms of spending one's hard earned, my choice is to spend £1,000 to warranty, service, retyre and keep my two year old bike or lose £3,000 on a trade in? Is it not therefore a cheaper option to keep the 2 year old bike?

Must be me - I cannot get my head around a basic premise that it's cheaper to trade in a two year old bike for a new one, than keep the old one if both are under warranty anyway.

 

[cookie]

Ask yourself..........................a 2+ year old 1200GS/GSA worth in the region of £7-8k and no warranty is a liability you can ill afford

i've asked myself, and the answer came back "cobblers"

 

[twizzle]

i've seen two year old 12's for 8.5k approved.... trade in @ 6.5-7k.. Dealer profit 2k...... new bike with options say 12.5k plus delivery tax an shite

so lets say £12.7... thats about £5.7k to move up to 2010, and that does not include any finance costs.......so add another £1.0k

you could keep the 12 and buy a nice 1150 for that sort of money

so £5,700 cost to change... versus extended warranty at £400, service by Steptoe £150 and tyres from Russ in Portsmouth £200.....thats £750...

Umm.......