Insurance Covering Engine Failure

[driglaz]

Does anyone know a provider in the U.S., that covers engine failure on 1999-2006 Boxsters - this would cover any unexpected IMS failure.

[JFP in PA]

Originally Posted by driglaz

Does anyone know a provider in the U.S., that covers engine failure on 1999-2006 Boxsters - this would cover any unexpected IMS failure.

Let me ask you a question: Have you ever wondered why none of the companies selling this nonsense is ever a major insurance carrier that you have heard of (Allstate, GEICO, Eire, State Farm, etc.)?

The policies that they sell are so full of caveats and other "outs" that make them basically nearly worthless. Those that actually pay out try to tell the shops how much they can charge and where they have to get parts from, which is why we do not accept ANY third party insurance programs.

You want to buy insurance against IMS failure? Then get the car retrofit with a quality hybrid bearing and get on with your life..................

[p3230]

Originally Posted by driglaz

Does anyone know a provider in the U.S., that covers engine failure on 1999-2006 Boxsters - this would cover any unexpected IMS failure.

Yes it's called buying from dealer with a warranty.

[pkp4911]

All that said, has ANYONE had a positive experience with any company? I have the German affliction--73 911(28 years and NEVER a mechanical failure) an 03 986S (now with an 03 996 motor--and upgraded IMS) a 01 Allroad (originally purchased with a decent extended 4 yr. 100K warranty but me thinks that company is now out of business.) I just picked up a 60K 15 Audi Q5 3.0T and because is out of warranty, feel highly "exposed". Anyone? Thanks!

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[mikefocke]

Try these folks as they do sell direct. But ask your mechanic if he accepts their warranty as there is tremendous overhead and hassle for the mechanic in dealing with any warranty, getting approval, car on the rack while getting that approval, perhaps even waiting for an adjuster to inspect, paperwork, etc. Read the contract, not the sales pitch.

For what I really think of warranties for a Boxster (or for any car really) see this

[Geof3]

For the out of pocket costs over time for most of these types of policies, it makes MUCH more sense to either spend a little more for a car with the IMS done, buy a car and get it done, or just buy a car, drive the snot out of it, take car of it, and change the bearing when you need a clutch. IMS's DO fail, but overall it is a very small percentage and way blown out of the water IMO.

[njbray]

When I purchased a 2007 BMW X3 i got 3 years of 'Cars Protection Plus' for $1600.
I didn't have high expectations but was pleasantly surprised.
They ended up covering around $3800 of repairs - so I got my moneys worth. Most of it was stuff that's good for another 100,000 miles. One thing I did do was pay a little extra out of pocket for some genuine BMW parts instead of generic stuff.

[bwdz]

So you want a warranty on a 15-20 year old car????? No offense but no one with any reputation offers that. They are a throwaway car anyway, engines are not that much if you do it yourself or just buy one cheap enough that if it blows up on you then you are not out that much money and get another one.

[seningen]

Originally Posted by driglaz

Does anyone know a provider in the U.S., that covers engine failure on 1999-2006 Boxsters - this would cover any unexpected IMS failure.

I will,

Pay me $5K and I'll give you an M96 engine replacement if yours fails. There's a $1000 deductible. Warranty is good for 3 years and 36000 miles. Void if tracked and/or not properly maintained.

Mike

[Dr. Acula]

No snark, I promise.

We play the lottery for fun. We might come out ahead, but probably not.

We buy insurance for the peace of mind. We might come out ahead, but probably not.

We all know people who have profited from insurance, but we also all know someone who has won a few bucks with a scratch-off lottery ticket. Insurance companies and state lotteries make a lot of money because they usually win the bet.

Preventive maintenance and a well-stocked repair fund make much more sense financially than insurance. Insurance is best used to prevent catastrophic loss. Think health insurance. I will pay the insurer more than they will pay out, most likely, but in the unlikely event I get brain cancer, I'll end up destitute. I pay in for insurance to alleviate that small but significant risk.

If the engine dying is financially catastrophic in your situation, you might reconsider if you want to take on the risk of a used Porsche. Again, the insurance company knows that the odds are you will end up paying more for insurance than they will pay for repairs. Thus, the odds are that if you can afford the insurance, you can probably afford any repairs that arise.

That doesn't answer your question, but I think most of us would suggest that instead of asking where to buy insurance, you should be asking whether you should buy insurance at all.

Good luck!

[flynavyj]

I agree with that 100%, if you're considering paying for an aftermarket warranty, month after month, or annually...you'll probably pay for the cost of a replacement IMS solution pretty quick....best insurance, is replacing the IMS with a quality aftermarket part.

[por356c]

JFP, as usual, said it best.

[boxapar]

The policies are indeed full of caveats. I haven't seen any insurance company here that covers engine failure.

[driglaz]

thanks. No risk, no reward.

Originally Posted by Dr. Acula

No snark, I promise.

We play the lottery for fun. We might come out ahead, but probably not.

We buy insurance for the peace of mind. We might come out ahead, but probably not.

We all know people who have profited from insurance, but we also all know someone who has won a few bucks with a scratch-off lottery ticket. Insurance companies and state lotteries make a lot of money because they usually win the bet.

Preventive maintenance and a well-stocked repair fund make much more sense financially than insurance. Insurance is best used to prevent catastrophic loss. Think health insurance. I will pay the insurer more than they will pay out, most likely, but in the unlikely event I get brain cancer, I'll end up destitute. I pay in for insurance to alleviate that small but significant risk.

If the engine dying is financially catastrophic in your situation, you might reconsider if you want to take on the risk of a used Porsche. Again, the insurance company knows that the odds are you will end up paying more for insurance than they will pay for repairs. Thus, the odds are that if you can afford the insurance, you can probably afford any repairs that arise.

That doesn't answer your question, but I think most of us would suggest that instead of asking where to buy insurance, you should be asking whether you should buy insurance at all.

Good luck!

[clickman]

The last time I looked (which was a while ago), a former contributor to this forum had documented 24 failure modes for the M96 engine. IMS failure is only one...