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Sarjoo

BMW Insured warranty renewal time - plot twist

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So am almost a year now that I've owned my 2012 520D ED model which now has 58,000 miles on it. Its been a pretty much problem free and pleasant journey, albeit a low mileage year (we have probably done about 5000 miles at the most I estimate in that time of our ownership.)

 

As from other posts you may have seen, I have had a recent intermittent rear fog light failure warning, and the same for a reverse light. Comes and goes and doesn't cause me huge concern.

 

So on to the reason for the post, I got the BMW Insured Warranty letter through today. Logged in to obtain a quote and this is what I am presented with:

Comprehensive with Emergency Service, £250 excess - £81 per month or £856 annual.

Comprehensive with Emergency Service, £100 excess - £105 per month or £1107 annual.

 

I dont plan to get anything less than comprehensive with ER. So which of the two option above to go for?

I guess it depends on if I intend to claim for the smallest of issues, I don't. This is more for peace of mind on the big things that can go wrong.  Also from what I've read the monthly is the one to get, not annual to prevent future price hikes.  

 

Thought folks?

 

 

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and now for the plot twist...

 

When I apply for the quote using the original number plate that the car came with prices drop a bit to...(the letter quoted the original plate mind you!)

 

Comprehensive with Emergency Service, £250 excess - £71 per month or £856 annual.

Comprehensive with Emergency Service, £100 excess - £89 per month or £1107 annual.

 

Should I just apply using its original plate? Or my private plate (which is raising the cost) on what is the SAME CAR!

Can anyone see any issue with them voting the warranty if I took it out on the original plate (bearing in mind their letter quoted the original plate)?

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Maybe the original plate being registered on the system is pulling some sort of loyalty discount and reflecting that the car's currently covered by warranty. 

 

I would go with the lower excess, it'll only take a couple of claims to recoup the difference and you won't be worrying about claims coming in at less than the excess for smaller items but thats just my opinion. 

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7 years of F11 ownership 5 of those out of warranty and still going strong with the only failure being the side view camera that I repaired for around £250. It is all about risk mitigation for me, we have 2 cars so getting it back on the road should a major disaster happen isn't a primary concern and many issues I'll be able to repair myself - having access to ISTA is a major benefit.

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For me I think the warranty would be for safe guarding against any big issues and so could get away with the larger excess option but am tempted to go for the £100 excess option tbh. 

 

I have a few weeks to decide I guess!

 

 

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3 hours ago, Matthew Ashton said:

7 years of F11 ownership 5 of those out of warranty and still going strong with the only failure being the side view camera that I repaired for around £250. It is all about risk mitigation for me, we have 2 cars so getting it back on the road should a major disaster happen isn't a primary concern and many issues I'll be able to repair myself - having access to ISTA is a major benefit.

 

Totally agree with this.

 

I've had warranty since I've had this car and am now out of pocket.  It's also been hugely stressful having to use the dealer which you are tied into if you need warranty work done. They caused more harm than they fixed and the second warranty claim I had was for work which wasn't needed. 

 

Got MOT next month then I'm cancelling and going DIY which is what I'm most comfortable with, rather than having to explain to a service advisor what the issue is, who then calls the next day to say they couldn't replicate in anyway.

 

I'm... ooot.

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5 hours ago, nashdm2 said:

I went for the £250 excess as for me, owning a BMW is about fending off the really big bills which is what swayed me to the £250.

Ditto, I've had this just over 2 years, it's the first car I've owned outside manufacturers warranty for c10 years so I was weary of any bills, I've only used it once for a rear air bag which I did the other side for c£45 myself so in effect I'm still over £200 up on the deal.

 

I pay £62 per month comp and keep looking to cancel but I know if I do...

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15 hours ago, bmwmike said:

 

Totally agree with this.

 

I've had warranty since I've had this car and am now out of pocket.  It's also been hugely stressful having to use the dealer which you are tied into if you need warranty work done. They caused more harm than they fixed and the second warranty claim I had was for work which wasn't needed. 

 

Got MOT next month then I'm cancelling and going DIY which is what I'm most comfortable with, rather than having to explain to a service advisor what the issue is, who then calls the next day to say they couldn't replicate in anyway.

 

I'm... ooot.

 

Fair enough I hear ya.  From my experience, not on this car but a previous BMW I had an E92 335i, the warranty more than paid for itself, in total I had several large expensive jobs done, ranging from a power steering pump failure, to a waste gate rattle fix (twice), a central locking system issue....all in all probably saved me about £5000 based on what invoices showed at the time. On all occasions the dealer did a good job resolving the issues, so I know they can be incompetent from what I've read on threads, but my experience has been positive to date.

 

That coupled with the fact that I am rather useless with car DIY, its a safety net I welcome, and peace of mind lol

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I didn't renew the warranty on either my E60 or F10. 

 

I han issue on the E60 which cost £250 to sort in the first year outside warranty but I was still over £500 better off. 

 

You can insure anything and as others have said it's all about weighing up the risk against the cost.

 

But piece of mind is acceptable too.

 

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Yep that's exactly what insurance is... offset the risk for a premium. 

 

As the common failures on my car are fixed by warranty (jnjectors) along with rear shocks replaced, and front wishbones..  I think the risk is reduced plus I'm handy with spanners so prefer to do it myself. Save 64pm into a pot for repairs. Or an m5 hehe.

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6 minutes ago, bmwmike said:

Yep that's exactly what insurance is... offset the risk for a premium. 

 

As the common failures on my car are fixed by warranty (jnjectors) along with rear shocks replaced, and front wishbones..  I think the risk is reduced plus I'm handy with spanners so prefer to do it myself. Save 64pm into a pot for repairs. Or an m5 hehe.

 

An M5. Now we’re talking! Some day :)

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3 minutes ago, Sarjoo said:

 

An M5. Now we’re talking! Some day :)

 

Yeah.. some day.. Am working on it... first hurdle cleared.. missus has caved in. :)

Edited by bmwmike

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Just now, 535i Andrew said:

 

Hòw did you manage that?

Promise of the first shot?

A fancy holiday?

Expensive jewellery?

 

Nag nag nag nag nag m5 m5 nag m5 nag better for towing nag nag good value m5 nag nag has VDC as standard nag nag nag nag nag depreciation  curve has flattened off nag nag

 

Still need to be able to actually afford one though :( one day... 

 

 

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1 hour ago, bmwmike said:

 

Nag nag nag nag nag m5 m5 nag m5 nag better for towing nag nag good value m5 nag nag has VDC as standard nag nag nag nag nag depreciation  curve has flattened off nag nag

 

Still need to be able to actually afford one though :( one day... 

 

 

 

I plan to use the same “logic” tonight on my misses :)

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Renewed the warranty, went for the larger excess as I don't intend on claiming unless something big goes bang.

If I had gone for the £100 excess option, then the extra premium over the year (plus the £100 excess at time of claim) would've amounted to more than simply the single excess of £250 I'll have to pay if I do make a claim anyway....so its kind of like the £100 option means you need to make a claim to make it worthwhile as you're paying over £250 anyway for the privilege of the lower excess. 

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My E91 325i threw all sorts of coils, ECU, pumps, traction computer etc. despite being a low miles AUC when purchased. Despite paying 5 years of warranty, I came out thousands ahead. In fact, it was one more orange light that broke the camel's back and made me change cars!

 

On my E39 540i, I ran the warranty for 2 years (I bought the car at 6.5 years old with warranty in place), only made a small claim, stopped the warranty and had no faults I could have claimed for in the rest of the time with my car, despite it being 11 years old with over 100K miles at that point.

 

So, the warranty is a gamble but it's always one I would take, especially with cars having more and more integrated electronics.

 

Your logic on the excess choice is sound.

 

 

 

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