BMW Insured Warranty

vladman · 11-06-2015, 05:40 AM

Hi,

I did a search, but to my surprise, no other topics discussing this came up.

I just received a letter from BMW inviting me to purchase this, as my car's three year warranty expires end of this month.

The quotes are roughly:

£950 - Comprehensive
£800 - Named Components
£600 - Driveline

What does everyone think, is this worth it (seems very steep to me), or should I go third-party extended warranty?

Many thanks.

shiner · 11-06-2015, 06:30 AM

Considering a component failure in a sophisticated, modern car full of electronics can deliver a multi-thousand pound repair bill I think it is worth having and I would go for the comprehensive. Gee, even a electric window repair at BMW can cost hundreds of pounds to put right. What if you had a gearbox failure? You're looking at thousands to fix.

It costs less if you are under 60000 miles I understand.

IMO it is worth having this on a premium car.

BMW are apparently very, very good at honouring their extended warranty. I hear on the grapevine that the third party insurers are terrible for fobbing off a claim as "fair wear" and thus not covering the fault.

The Beast · 11-06-2015, 07:30 AM

I don't bother I've had many luxury cars both in and out of warranty and not had one major failure to date. The biggest expense was the failure of the navigation DVD drive on my E70 and I managed to get an independent to fit a new original BMW DVD drive for around £250.

The way I see it is if I do get a major failure I've had over 10 years of saving this sort of yearly cost... Saying that my gearbox will probably fail next week now!

AP · 11-06-2015, 08:08 AM

it is a gamble but when my warranty ran out I decided to "self insure". my previous e39 which i had owned for 10 years only ever had one issue (alternator failure) just before I got rid of it. I only drive around 6000 miles a year and so I think its a risk worth taking.
if you can afford it there is piece of mind obviously, a difficult decision to call though.

shiner · 11-06-2015, 10:34 AM

Insurance is always a gamble. It's effectively a bet with the insurance company!

There are a lot of threads on this here:
http://forums.overclockers.co.uk/forumdisplay.php?f=14

HighlandPete · 11-06-2015, 11:11 AM

I run with the extended warranty, have done so with all my BMW cars out of initial warranty/AUC warranty.

I do it primarily for peace of mind and to try and have fixed costs. View it as part of the running costs. Current F11 warranty was £785 (£100 excess and less than 60k miles) for comprehensive and emergency cover. The £100 excess comes in cheaper even with two warranty claims.

As to its value, I'm still in pocket over the years. Worst case was a new V8 engine in my E39 540i, bill would have been well into 5 figures. Never saw a bill but was estimated to be over £12k.

I've already used the warranty for this year, included a recovery and return of car on a flatbed, (garage is 60 miles away) and hire car for 4 days. All for a comfort access door handle (even the handle is an expensive item) where one sensor faulted and messed the electrics. That 'little' episode has paid for this year's premium.

Even something like a broken front spring on my 3-series with recovery, return of car, spring, garage work and car hire was close to a years cover. I had that happen twice.

I know for my car with options like Adaptive Drive, HUD, plus all the common packages, there are many possibilities for expensive faults and repairs.

HighlandPete

shiner · 11-06-2015, 01:26 PM

I think you sum it up well HighlandPete.

I am not one for having insurance on this, that and the other at all. By and large I feel that insurance is a racket. But modern, premium cars like my 530d F11 are sophisticated and complex beasts and a bill to put a fault right is never going to be a small change affair nowadays. The days of the £50 fix like it was on my 1988 Peugeot 105 GTI in my boy-racer days are long gone.

You pays your money and feel safe or play the gambling game and hope nothing goes wrong. And if you do the latter it may very well work out for you; I sincerely hope it does. That's the choice open to the individual to make. On a personal level I think the risk vectors are too high for me and I want to be covered by the manufacturer when my new car warranty runs out. Another cost to factor into the day-to-day running of the car. Or I may offload the car next June and get a newer one.

vladman · 11-07-2015, 11:03 AM

Thanks for the detailed replies guys, very much appreciated.

I have roadside recovery as a perk on one of my credit cards, so don't think I need emergency services.

Comprehensive cover with a £100 excess comes out at £730 per year, or £67 per month. Still a lot of money.

I need to mull on this one some more...

P.S. Can anyone sum up the main differences between the three levels of cover??

Piers · 11-13-2015, 12:41 PM

If I have mine after 3 years, I think I would probably buy it, and I am not one for pet insurance etc, preferring to self insure generally.

However, having had a climate random failure on my E60, and it costing over £3k to repair and multiple visits to the dealer, it is a risk I don't really want to take. That said the F10 have been a fantastic car over its first two years so lets see...

The Beast · 11-13-2015, 02:08 PM

Quote:

Originally Posted by vladman

Thanks for the detailed replies guys, very much appreciated.

I have roadside recovery as a perk on one of my credit cards, so don't think I need emergency services.

Comprehensive cover with a £100 excess comes out at £730 per year, or £67 per month. Still a lot of money.

I need to mull on this one some more...

P.S. Can anyone sum up the main differences between the three levels of cover??

No but if your going to insure then you may as well get the full cover imo

dockishen · 11-19-2015, 03:13 AM

i have comprehensive cover on both my cars and i can tell you honestly that they are real lifesavers when something goes wrong.
i have had to change the ABS on 2006 320d and that cost about £4500 and the gearbox on my 330I was changed as well as the clutch at £3000 plus and i didnt have to pay a penny.
the main difference is the comprehensive covers everything except the consumables like light bulbs and brake pads and oil , I would certainly pay the extra for the comprehensive cover .
If you compare with warranty direct etc the BMW drive insurance is a no hassle cover as you take it to the dealer and there is no hassle of paying up front and then claiming as with other insurances.
hope this makes up your mind

11-06-2015, 05:40 AM	#1
vladman Private 8 Rep 54 Posts Drives: BMW 520d M Sport Join Date: Sep 2014 Location: London, UK iTrader: (0)	BMW Insured Warranty - worth it? Hi, I did a search, but to my surprise, no other topics discussing this came up. I just received a letter from BMW inviting me to purchase this, as my car's three year warranty expires end of this month. The quotes are roughly: £950 - Comprehensive £800 - Named Components £600 - Driveline What does everyone think, is this worth it (seems very steep to me), or should I go third-party extended warranty? Many thanks.
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11-06-2015, 06:30 AM	#2
shiner First Lieutenant 44 Rep 327 Posts Drives: 535D MSport Touring Join Date: Jan 2011 Location: Nottingham iTrader: (0)	Considering a component failure in a sophisticated, modern car full of electronics can deliver a multi-thousand pound repair bill I think it is worth having and I would go for the comprehensive. Gee, even a electric window repair at BMW can cost hundreds of pounds to put right. What if you had a gearbox failure? You're looking at thousands to fix. It costs less if you are under 60000 miles I understand. IMO it is worth having this on a premium car. BMW are apparently very, very good at honouring their extended warranty. I hear on the grapevine that the third party insurers are terrible for fobbing off a claim as "fair wear" and thus not covering the fault. __________________ 2015 F11 535D M Sport Touring, Space Grey, VDC, HUD, Comfort Seats, Sport Auto, Pro Media. GONE 2013 Z4 35is + tons of options. CURRENT
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11-06-2015, 07:30 AM	#3
The Beast Lieutenant Colonel 268 Rep 1,597 Posts Drives: VW Transporter Sportline Join Date: Aug 2010 Location: Wolverhampton iTrader: (0)	I don't bother I've had many luxury cars both in and out of warranty and not had one major failure to date. The biggest expense was the failure of the navigation DVD drive on my E70 and I managed to get an independent to fit a new original BMW DVD drive for around £250. The way I see it is if I do get a major failure I've had over 10 years of saving this sort of yearly cost... Saying that my gearbox will probably fail next week now! __________________ Current: VW Transporter Sportline, F48 X1 20i M Sport. Previous: F10 530d M Sport, W176 A200 CDI AMG Evolution, E70 X5 3.0 SD M Sport, F20 120d M Sport, E81 120d M Sport, E46 325i M Sport, E46 318ci & Many Others... Last edited by The Beast; 11-06-2015 at 07:32 AM.. Reason: update
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11-06-2015, 08:08 AM	#4
AP Major General 2777 Rep 5,091 Posts Drives: G30 M550 Join Date: Apr 2011 Location: UK iTrader: (0)	it is a gamble but when my warranty ran out I decided to "self insure". my previous e39 which i had owned for 10 years only ever had one issue (alternator failure) just before I got rid of it. I only drive around 6000 miles a year and so I think its a risk worth taking. if you can afford it there is piece of mind obviously, a difficult decision to call though.
	Appreciate 0 Quote

11-06-2015, 10:34 AM	#5
shiner First Lieutenant 44 Rep 327 Posts Drives: 535D MSport Touring Join Date: Jan 2011 Location: Nottingham iTrader: (0)	Insurance is always a gamble. It's effectively a bet with the insurance company! There are a lot of threads on this here: http://forums.overclockers.co.uk/forumdisplay.php?f=14 __________________ 2015 F11 535D M Sport Touring, Space Grey, VDC, HUD, Comfort Seats, Sport Auto, Pro Media. GONE 2013 Z4 35is + tons of options. CURRENT
	Appreciate 0 Quote

11-06-2015, 11:11 AM	#6
HighlandPete Lieutenant General 6659 Rep 15,858 Posts Drives: BMW F11 535i Touring Join Date: Mar 2007 Location: Scotland, Highland Region iTrader: (0)	I run with the extended warranty, have done so with all my BMW cars out of initial warranty/AUC warranty. I do it primarily for peace of mind and to try and have fixed costs. View it as part of the running costs. Current F11 warranty was £785 (£100 excess and less than 60k miles) for comprehensive and emergency cover. The £100 excess comes in cheaper even with two warranty claims. As to its value, I'm still in pocket over the years. Worst case was a new V8 engine in my E39 540i, bill would have been well into 5 figures. Never saw a bill but was estimated to be over £12k. I've already used the warranty for this year, included a recovery and return of car on a flatbed, (garage is 60 miles away) and hire car for 4 days. All for a comfort access door handle (even the handle is an expensive item) where one sensor faulted and messed the electrics. That 'little' episode has paid for this year's premium. Even something like a broken front spring on my 3-series with recovery, return of car, spring, garage work and car hire was close to a years cover. I had that happen twice. I know for my car with options like Adaptive Drive, HUD, plus all the common packages, there are many possibilities for expensive faults and repairs. HighlandPete
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11-06-2015, 01:26 PM	#7
shiner First Lieutenant 44 Rep 327 Posts Drives: 535D MSport Touring Join Date: Jan 2011 Location: Nottingham iTrader: (0)	I think you sum it up well HighlandPete. I am not one for having insurance on this, that and the other at all. By and large I feel that insurance is a racket. But modern, premium cars like my 530d F11 are sophisticated and complex beasts and a bill to put a fault right is never going to be a small change affair nowadays. The days of the £50 fix like it was on my 1988 Peugeot 105 GTI in my boy-racer days are long gone. You pays your money and feel safe or play the gambling game and hope nothing goes wrong. And if you do the latter it may very well work out for you; I sincerely hope it does. That's the choice open to the individual to make. On a personal level I think the risk vectors are too high for me and I want to be covered by the manufacturer when my new car warranty runs out. Another cost to factor into the day-to-day running of the car. Or I may offload the car next June and get a newer one. __________________ 2015 F11 535D M Sport Touring, Space Grey, VDC, HUD, Comfort Seats, Sport Auto, Pro Media. GONE 2013 Z4 35is + tons of options. CURRENT
	Appreciate 0 Quote

11-07-2015, 11:03 AM	#8
vladman Private 8 Rep 54 Posts Drives: BMW 520d M Sport Join Date: Sep 2014 Location: London, UK iTrader: (0)	Thanks for the detailed replies guys, very much appreciated. I have roadside recovery as a perk on one of my credit cards, so don't think I need emergency services. Comprehensive cover with a £100 excess comes out at £730 per year, or £67 per month. Still a lot of money. I need to mull on this one some more... P.S. Can anyone sum up the main differences between the three levels of cover?? Last edited by vladman; 11-07-2015 at 11:03 AM.. Reason: Added the P.S.
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11-13-2015, 12:41 PM	#9
Piers Captain 36 Rep 619 Posts Drives: 2017 F10 535d M-Sport Join Date: Oct 2013 Location: Sussex, UK iTrader: (0)	If I have mine after 3 years, I think I would probably buy it, and I am not one for pet insurance etc, preferring to self insure generally. However, having had a climate random failure on my E60, and it costing over £3k to repair and multiple visits to the dealer, it is a risk I don't really want to take. That said the F10 have been a fantastic car over its first two years so lets see... __________________ 2017 F10 535d MSport Auto - Mineral Grey - Oyster leather - 19" 351M's - Pro Media - Enhanced bluetooth - MSport rear spoiler - Sun protection glass - Harman Kardon Hifi - Multi Function Display - Ambient Lighting - Folding mirrors - Sunroof - LED adaptive headlights
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11-19-2015, 03:13 AM	#11
dockishen Major General 7 Rep 46 Posts Drives: 330 i+ 535D SE Join Date: Mar 2007 Location: sussex iTrader: (0)	i have comprehensive cover on both my cars and i can tell you honestly that they are real lifesavers when something goes wrong. i have had to change the ABS on 2006 320d and that cost about £4500 and the gearbox on my 330I was changed as well as the clutch at £3000 plus and i didnt have to pay a penny. the main difference is the comprehensive covers everything except the consumables like light bulbs and brake pads and oil , I would certainly pay the extra for the comprehensive cover . If you compare with warranty direct etc the BMW drive insurance is a no hassle cover as you take it to the dealer and there is no hassle of paying up front and then claiming as with other insurances. hope this makes up your mind
	Appreciate 0 Quote