Extended car warranties are B.S.

[5030]

A. They no longer exist
b. We wanted something reliable

I knew the answer would be that... Just poking...

 

[5030]

A little no auto insurance warranty story for ya...

I carry a high deductible in my farm insurance to keep the premium down, being a farmer, I'm thrifty. I carry a 1000 buck deductible. Anyway, I'm driving out of the barn and I stupidly left the drivers door open on the tractor and caught the door of the tractor on the door frame of the barn door. Now the door is all glass except the handle, the gasket weatherstrip and the grab bar and in an instant, all I had was a pile of glass chunks and no door so I called the insurance and told them what happened. Told me to find out what the door cost...

$995.00. I ate the entire cost. Oh well, life on the farm.

 

[Diggin It]

Had an Insurance Agent tell me this several years ago. "If you can afford the loss, don't insure it. If you cannot afford the loss, insure it."

I lived that way for a lot of years. Figured things out on spreadsheets, comparing premiums to potential losses. Only bought the insurance that was required for the cars, dropped everything else. House was a gamble, but the rates were/are all based on some pie in the sky McMansion false guesstimate of 'replacement cost' that is 2-3 times what is realistic.

Then prices on even simple things started getting stupid. Lumber is silly high. Even simple things like copper wire have gone nuts. Hardware, nails, screws .. $9/box? We've already done the medical costs threads. The greedy overlords have priced the people out of being able to afford the basics and then hiked insurance prices to obscene levels. That wasn't enough to rip us off, so they imposed unreasonable exceptions and exemptions to covered items.

 

[dragoneggs]

I lived that way for a lot of years. Figured things out on spreadsheets, comparing premiums to potential losses. Only bought the insurance that was required for the cars, dropped everything else. House was a gamble, but the rates were/are all based on some pie in the sky McMansion false guesstimate of 'replacement cost' that is 2-3 times what is realistic.

Then prices on even simple things started getting stupid. Lumber is silly high. Even simple things like copper wire have gone nuts. Hardware, nails, screws .. $9/box? We've already done the medical costs threads. The greedy overlords have priced the people out of being able to afford the basics and then hiked insurance prices to obscene levels. That wasn't enough to rip us off, so they imposed unreasonable exceptions and exemptions to covered items.

Yep!!!

 

[bunyip]

I knew the answer would be that... Just poking...

I know but bear poking is a bit of fun:laughing:

 

[dnw64]

I know but bear poking is a bit of fun:laughing:

You're a bear? I thought you were a bunyip.

 

[Muhammad]

Remember, these are insurance companies and they're going to try to deny as many claims as possible. I had an extended warranty deny an $18,000 engine replacement over a technicality in their warranty as well. Eventually the dealer wound up negotiating for an engine rebuild instead of replacement and they bought the car from me so I could wipe my hands of it. I don't think I will buy another extended warranty---I'm either leasing cars new or buying cars that I feel confident in driving without a warranty (which is what I have now, a cheap car that is out of warranty but has a good reliability record and is somewhat cheap to maintain).

 

[ovrszd]

Remember, these are insurance companies and they're going to try to deny as many claims as possible. I had an extended warranty deny an $18,000 engine replacement over a technicality in their warranty as well. Eventually the dealer wound up negotiating for an engine rebuild instead of replacement and they bought the car from me so I could wipe my hands of it. I don't think I will buy another extended warranty---I'm either leasing cars new or buying cars that I feel confident in driving without a warranty (which is what I have now, a cheap car that is out of warranty but has a good reliability record and is somewhat cheap to maintain).

Yep. I've always had the philosophy that if I need to buy extended warranty I'm probably buying the wrong product.

 

[PILOON]

LOL, I only once purchased an extended warrantee.
On an Audi Turbo 3000.
Shucks they had to pay out over $3000. to honor it.
But since then I never purchased another and so far I guess I'm way ahead.
The biggest problem is to ward off the sales rep that is selling them. (they obviously get a commission)
Failures will generally occur within the first early hours of any merchandise and generally you are covered under law.

 

[Muhammad]

Yep. I've always had the philosophy that if I need to buy extended warranty I'm probably buying the wrong product.

Yeah, good way of thinking.