[OGM1]

Some of you may or may not know that Geico offers this. It's very cheap compared to any extended warranties that you can buy. The price ($15 month for new M car) is impossible to beat, but I wonder if you have a few claims for repairs if they jack up the price.

Has anyone here used this in the past? Please post your experience.

[sixspeedshift]

subbed

[fanofbmwe46]

Wait so it’s $15 a month if you start it with a new car… so $15x 48 months until out of warranty = $720 and then stays $15 a month after. Yea that would def be worth it because in years following warranty your bound to have some big potential issues.

[chicagofan00]

There is also a $250 deductible per claim.

[Berzerker]

Just keep in mind this doesn't cover wear and tear stuff, and you can bet they'd try their best to blame any issues on that vs a defect.

[DFW_M]

Originally Posted by OGM1

Some of you may or may not know that Geico offers this. It's very cheap compared to any extended warranties that you can buy. The price ($15 month for new M car) is impossible to beat, but I wonder if you have a few claims for repairs if they jack up the price.

Has anyone here used this in the past? Please post your experience.

I've had it and used it on my previous vehicles. Since I am leasing last 10 years, I have not had it on my cars, and somehow, Geico has lost their competitiveness so we switched to a different Insurance for the family.
However, my previous experience was worth the $$. My daughter had some sensor go out on her out of warranty Jeep Wrangler, the repair cost was just over $1k. Called Geico and it took 15-20 min to set it up, work was done, we paid $250. Previous experiences were positive too. But it is exactly what it says - mechanical breakdown and it does specify what is excluded from the coverage.

[jimbethesda]

Originally Posted by DFW_M

I've had it and used it on my previous vehicles. Since I am leasing last 10 years, I have not had it on my cars, and somehow, Geico has lost their competitiveness so we switched to a different Insurance for the family.
However, my previous experience was worth the $$. My daughter had some sensor go out on her out of warranty Jeep Wrangler, the repair cost was just over $1k. Called Geico and it took 15-20 min to set it up, work was done, we paid $250. Previous experiences were positive too. But it is exactly what it says - mechanical breakdown and it does specify what is excluded from the coverage.

So you got $750 back after paying how much in total?

[biglilsteve]

This ropes you into GEICO in perpetuity. You should be shopping for insurance each time your policy renews. As soon as GEICO becomes uncompetitive (which they did recently for me), you’re stuck paying a high premium just for the sake of keeping this coverage. As soon as you leave them, the coverage and all the money you paid for it is gone.

[jimbethesda]

Originally Posted by OGM1

Some of you may or may not know that Geico offers this. It's very cheap compared to any extended warranties that you can buy. The price ($15 month for new M car) is impossible to beat, but I wonder if you have a few claims for repairs if they jack up the price.

Has anyone here used this in the past? Please post your experience.

Just know, your expected benefit will be less than $15/month. Geico doesn’t price it so it loses money.

It’s best to skip all these extra warranties. Open a dedicated savings account and put money in there that you would have spent on them. If something breaks that a warranty would have paid for, use the money in that account.

You’ll be happy you did.