Third party warranty companies. Worth it???

[m3eezer]

I have just experienced a major SMG issue with my car and am now thinking about investing in a warranty. My car is over 100k and therefore cant get an extended BMW warranty.

Ive had a few quotes from companies such as Warranty Direct and Click 4 Warranty, both of which offer cover for wear and tear.

Does anybody have any experience with these companies good or bad? Is it worth investing my hard earned pennies with one of these companies?

[mmm-five]

Check on the details of the wear & tear cover, as some of them are based on the age/mileage of the items.

For example, at 50,000 miles you'd get a 50% payout, at 60,000 miles a 40% payout, etc. - so you may end up with some parts not being covered due to being over 100,000 miles - even though they'd still quote for it and accept the premiums.

However, if you can show you've had new parts recently, then the clock should be reset on those.

[CarbonBlackM5]

I think many of them have a 10yr or 100k limit anyway so you might not get cover

[carl_w]

Got a feeling that Warranty Direct will cover you to over 100k only if you took out the policy at <100k.

[m3eezer]

Cheers guys.

Apparently Warranty direct do a new cover for high performance/luxury cars and cater for higher mileage vehicles. I gave them a call today and asked about the mileage on specific parts and they said its all covered! They did specify that the car will be checked over by one of their mechanics 24 hours before they authorise the cover, then all you have to do it maintain the service intervals.

Sounds too good to be true!

[CarbonBlackM5]

I have just emailed them, 130k is the limit.

[ArmaghMan]

Warranty Direct W**Kers

Read the small print very very carefully.
If you speak to one of their sales guys get him to put everything that is agreed in writing.
If you dont they will weasel out at claim time.
Bitter experience talking.