After market warratny insurance companies?
 

Looking to buy an warranty for the car i'm planning to buy do you guys recommend any? want one that will take care of the engine just in case.... thanks.

The idea is great but the reality isn't
 

Mike
I did research about the same matter last year and the facts really do not warrant additional insurance since the premiums are so outrageously high. It costs thousands per year and I m not talking one thousand. I opted to pay if the car breaks down whatever the component is Ill pay for it rather than be bled to death yearly.

I paid $1950 for a 4 year / 60K mile SecureCare warranty from Warranty Direct on my '03 Boxster in December 2007, when my car had 35,000 miles on it. Given that I drive it about 7,000 miles a year, I should get to 60K at right around 4 years, so my yearly cost is about $500, not "thousands". They've already paid for this year, as they covered a new window regulator and cam cover seal repair.

SecureCare coverage: http://www.warrantydirect.com/secure_care.asp

They also cover the MAF, along with most other emissions related components.

Getting them to pay for major stuff requires that you have documented evidence of all Porsche-required service being performed at the required intervals. Also, from the experiences of others, you need to immediately address all external oil leaks, as WD has cited them as evidence of neglect when denying claims.

It boils down to the fact that my Porsche dealer did not take any of the after markets warranties. Throw in the expense and I would still come to the same conclusion, of not getting it. Maybe in your case it works out which if it does well you are ahead of the curve and I congratulate you.

I take my car to an independent shop which has no problem with submitting claims to WD (i******************************** here in Phoenix). There may be shops in your area that will honor extended warranties, too.

If you don't intend on owning the car very long, the risk of not having a warranty may be reasonable. If you're planning on owning the car very long, however, in my experience with BMW's and Porsches, they have a lot of expensive minor repairs (e.g. electrics, emission, suspension, etc.) and if you're unlucky, some very expensive major repairs (e.g. RMS, IMS -> engine failure, tranny issues, etc.). I look at it as at worse paying for peace of mind, and at best, as avoiding a huge repair bill.

I looked into a extended warranty with Warranty Direct on my 04 and, as I recall, it was about $3500 to 100K. When I decided against it they hounded me for months. My reasoning for not getting it was;

1. They cannot make a profit unless most people pay considerably more for their insurance than repairs will cost (ie - you lose).

2. If you have a repair, it isn't magically paid for - you will have to fight with WD to get them to cover it (many posts on this forum will demonstrate that).

3. If I blow my 2.7 engine and want to replace it with a 3.2, I doubt that WD will even negotiate with me.

4. Although IMS issues are a genuine concern, you probably won't have it.

If I have a major expense I will no doubt wish I had the insurance, but if I had the insurance, I'm pretty sure they are going give me headaches too, just for different reasons.