Best Warranty for my 458 - but not Ferrari Warranty

Best Warranty for my 458 - but not Ferrari Warranty

Author
Discussion

PrancingHorses

2,204 posts

152 months

Monday 3rd June
quotequote all
Thread Resurrection!

My 458 warranty with warranty direct finally ended this month and they won't provide a new cover for me so looking at options. I have had the WD cover for 24 months and never made a claim so thinking whether I really need a policy or not but it's always good to have the peace of mind I guess with a car like this!

The only other option left is Warranty Wise and as I said in the thread earlier above I find them well to pushy for my liking. I did an online quote and was called non stop for 7 days until I spoke to them redface

Anyone actually got a warranty wise warranty on a Ferrari and how has it been?

Gutted Warranty Direct have stopped as they have been amazing over the years!

Ken Figenus

4,481 posts

62 months

Tuesday 4th June
quotequote all
Drive them down each time they call! These companies do negotiate.

My 'self insuring' experience is goodf so far with a good few grand in the pot. The Aston has been extremely reliable in the 5 years I've had it and when my 3yr WD policy ended, due to the bad taste with the Beemer and their cleverly worded causes and huge catch all gotcha clause causing much doubt, I just started chucking £125 a month into a pot of my own. No it wont cover an engine rebuild (yet!) but I have never ever needed one of those in my life and have never had a gearbox fail either. And my pot covers EVERYTHING - even trim, ICE and rear diff seals! The older a car gets the less and less they cover - and beware 'betterment'. MY clauses are far better - In fact I don't have ANYbiggrincloud9

nbot

Original Poster:

80 posts

32 months

Tuesday 4th June
quotequote all
So I decided to go for a warranty wise 12 month warranty on my 458 as warranty direct do not cover the car anymore. I really managed to drive down the price of the warranty - in the end I paid £1425 with £500 excess for the warranty. A good price for piece of mind for the next 12 months. Fingers crossed nothing will go wrong with the car but given I have a number of road trips planned over the summer, the peace of mind was essential.

PrancingHorses

2,204 posts

152 months

Tuesday 4th June
quotequote all
Thats good to know - but has anyone successfully gotten money out of them - that is what I am not sure about. I know we can drill them down on the price but they are only as good as they pay out!

I hear ALA (of Gap insurance fame) are soon to launch a warranty on to the market.

Ken Figenus

4,481 posts

62 months

Tuesday 4th June
quotequote all
I'm sure they pay out on most of the claims guys - we only hear of the terrible ones like the M5 story here and on the blog. You struck your own risk v cost balance so all good.

How old is the car? Also make sure you read every scrap of small print NOW - not when you claim and find that your service history precludes you from cover or that you arent covered if you are wearing a fake Ferrari baseball cap wink !

f1_dragon

259 posts

169 months

Thursday 8th August
quotequote all
The 6 month warranty I got with my car will be expiring soon, so was wondering if there were any further thoughts/experiences on the best warranty to go for?
From the above I'm thinking warranty wise as a seemingly good balance of cost vs. covering known weaknesses e.g. leaking dampers and big items like engine/gearbox should the worse happen.

F355GTS

3,474 posts

200 months

Thursday 8th August
quotequote all
PompeyReece said:
f1_dragon said:
The 6 month warranty I got with my car will be expiring soon, so was wondering if there were any further thoughts/experiences on the best warranty to go for?
From the above I'm thinking warranty wise as a seemingly good balance of cost vs. covering known weaknesses e.g. leaking dampers and big items like engine/gearbox should the worse happen.
Just be aware WW received some rather bad press on here a few months ago with them refusing to pay out on a BMW M5 issue.

I believe the poster on here was eventually "persuaded" to take down his posting but resurrected it on here:

http://warrantydirectclaimrejected.blogspot.com

However this blog appears to be locked down so I'm unsure on the outcome. Regardless it sounded like a horrendous experience and the last time I heard it was leaving the poster with a £20k bill.
that was Warranty Direct, not Warranty Wise however I think I read that Warranty Wise is not an insurance backed scheme and therefore if they decline a claim then there's nobody you can go to dispute it

PompeyReece

579 posts

34 months

Thursday 8th August
quotequote all
F355GTS said:
that was Warranty Direct, not Warranty Wise however I think I read that Warranty Wise is not an insurance backed scheme and therefore if they decline a claim then there's nobody you can go to dispute it
Eeeek, thanks. I'll delete my original post. Sorry for the confusion.

PrancingHorses

2,204 posts

152 months

Thursday 8th August
quotequote all
Read the negative reviews on Trust Pilot before handing any money to Warranty Wise. Warranty Direct was the best policy out there in my experience (paid out over £20k on some of my cars over the years) but since being taken over by BNP Paribus they have stopped covering supercars.

I would keep the money in a pot rather than pay Warranty Wise smile

There IMHO now a big gap in the market for warranties on supercars - I heard ALA may start to provide such warranties soon but there is certainly room for others to take a stake.

dalenorth

552 posts

112 months

Tuesday 10th September
quotequote all
Guys, does anyone have any updates on warranties? Mine is due and WW want £2300 with a £250 excess, but it’s the 10k claim limit that worries me.

For me it’s main coverage of gearbox and engine that’s important so 10k doesn’t cut it!

mwstewart

5,538 posts

133 months

Wednesday 11th September
quotequote all
This may be of use but I'll caveat it by saying that I prefer not to have a warranty so I'm possibly out of touch with pricing: last week Meridien Modena emailed a cheap sounding Power Warranty offer for my F430 - something like £1400 per year. Given the F430 is an old car I thought that sounded cheap from a main dealer.

dalenorth

552 posts

112 months

Wednesday 11th September
quotequote all
Graypaul have just emailed me a quote at £3.5k, so don’t think I’ll get to £1400. Thanks though

BlackR8

219 posts

22 months

Wednesday 11th September
quotequote all
mwstewart said:
This may be of use but I'll caveat it by saying that I prefer not to have a warranty so I'm possibly out of touch with pricing: last week Meridien Modena emailed a cheap sounding Power Warranty offer for my F430 - something like £1400 per year. Given the F430 is an old car I thought that sounded cheap from a main dealer.
That's a fantastic deal. I was under the impression the Ferrari Power Warranty was £3k or £3.5k +vat. So thats below half price!

nbot

Original Poster:

80 posts

32 months

Yesterday (15:38)
quotequote all
Hi all,
So i thought given I thought i would give everyone an update on this subject given i was the OP. I ended up taking a Warrantywise warranty which started at the end of Feb. I have recently had a faulty rear wheel bearing diagnosed. I took the car to both Ferrari and a place called AV engineering, who both diagnosed the same issue. I opted to go for AV engineering as in my warranty policy i elected for cover of up to £100 per hour inc VAT for labour. We submitted the claim to Warrantywise on Saturday afternoon and they came back today immediately saying that they would pay for it. No questions or squabbles. i am very impressed. they will send me a cheque this week i have an excess of £500 and AV have now ordered the part and will proceed with the work.

Happy days.

PrancingHorses

2,204 posts

152 months

Yesterday (22:14)
quotequote all
Great to finally hear a positive review of a warranty company clap