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BMW Insured Warranty, what to do?

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I've had my 4 year old used approved F10 530d MSport now for a year now and have my quote for extending the warranty, all these quotes are with £100 excess, £780 for comprehensive, £655 for named component or £519 driveline. 

Should I go for the warranty and if so which level of cover or just put money away each month. What's people's thoughts? 

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I don't know what your mileage and service history is like, but £780=£15/week which doesn't seem soooo bad if you were to have a biggish problem. It doesn't take long to rack up a big bill at dealer rates unfortunately! :)

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Cars done 40k although I've done 14k in the last year, it's got full main dealer service history, got loads of extras like the surround parking assist with the 5 cameras, electric towbar etc to be honest I think it's a no brainer just need some reassurance really. 

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You pay your money and you can insure anything.

 

I've never taken out an extended warranty and haven't had anything fail that came anywhere near the cost of the warranty. £250 was spent fixing my second E60 the first year out of warranty, but the cost of the warranty was nearly four times that.

 

I put money away every month.

 

There are fixes on here for the surround camera and gears can be bought for the towbar if it fails.

 

Its not a bad quote, if you want piece of mind then it's up to you. But that's a lot of cash just to sleep easily every night.

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14 minutes ago, 535i Andrew said:

You pay your money and you can insure anything.

 

I've never taken out an extended warranty and haven't had anything fail that came anywhere near the cost of the warranty. £250 was spent fixing my second E60 the first year out of warranty, but the cost of the warranty was nearly four times that.

 

I put money away every month.

 

There are fixes on here for the surround camera and gears can be bought for the towbar if it fails.

 

Its not a bad quote, if you want piece of mind then it's up to you. But that's a lot of cash just to sleep easily every night.

Very true its a lot of money however I might sleep just a bit easier.

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I presume fully comp one? 

 

I have mine which is on a 640D GC @ £73 per month with £250 excess including emergency assist.

 

It is worth mentioning that above 60k the renewal for annual ones increases significantly. If you go monthly it is not taken into account, although they can raise the premiums once in every 12 months. 

 

Note that it won't cover the yellow grommet issue though for example as that is a seal, which I do find one of the downsides. For various reasons though I managed to get my yellow grommet change down to £75.

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Warranties are very personal, everyone has different needs etc. All depends how risk adverse you are, I had the comp mondial one and paid £60 pcm and they still were a pain with an airbag and a misfire so I paid myself. I kept it for the big bits really and said that I'd not bother with the recent A7, but guess what, I've just extended it last week for a similar amount. 

 

I've just had a cam belt go on a company skoda and the bill was going to be £8.5k as its on 85k (2.5 years old) I've shaved quite a few grand off this taking it from the dealer to an indi. 

 

All horses for courses. 

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Everyone mentions the 60k threshold increase in premium but I never see the other threshold mentioned. If you leave the car unwarrantied for too long (not sure of actual duration) the premium goes up significantly. Probably more than the oft quoted 60k miles. Eg mine was 62pm rising to 96pm if I took the warranty out now. Hasn't been insured warranty for 2 years.

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I had this warranty for a couple of years. I went for the best cover, but, with the highest excess. The reason for this is that in my mind, I simply wanted to insure I was covered for a major failure, the smaller things I could afford myself.

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36 minutes ago, nashdm2 said:

I had this warranty for a couple of years. I went for the best cover, but, with the highest excess. The reason for this is that in my mind, I simply wanted to insure I was covered for a major failure, the smaller things I could afford myself.

Good way of looking at it I suppose, £596 for the comprehensive with £250 excess. 

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I have it on mine, just gone up to 83 a month for fully comp with 100 excess, also got cover on my z4 coupe. Spent an absolute fortune on it over the years and barely had any claims. I find my local dealers don't have a clue what is and what isn't covered, either that or they're trying to get out of warranty claims as they get a drastically reduced rate from it. Wish I'd put the money into an account, I'd have enough for another car by now!

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Reading this with interest as my F11 535 is out of warranty in September and am unsure wether to take out the extended warranty myself.

 

I've owned the car from new and has cover just over 5500 miles. My thinking is that with such low milage should I really have a big issue with it, but just not sure. 

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Big ticket items like a spun main bearing or timing chain snapping or the gearbox fails, or the steering rack fails.  For one of those to fail the warranty is most definitely worth it.

 

Chances of those failures happening? That's where it's up to you to risk assess it out.

 

An air con condenser failing won't cost much more than £250-£300 at BMW, which isn't much more than the highest excess. A broken rear spring again is covered under warranty but would be similar costs to replace. I figured what I save in paying out for a warranty I can save towards a fault if it happens.

 

If you can afford it and want the piece of mind, go for it as it also includes the Emergency assist which gives full cover and replacement car which is better than the AA and cheaper so you don't need to pay for AA or RAC etc over and above the warranty.

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I have a non BMW warranty on mine with nil excess so a bit of a compromise but helps me sleep at night! 

Another factor to consider is how handy you are at tackling repairs yourself. I'm not going to tackle complex jobs myself so I'm more comfortable with a warranty. 

Plus, although I'm lucky to have a lot of options but more potential issues eg surround view, pano roof, etc. 

 

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2 hours ago, Caesar said:

 

Another factor to consider is how handy you are at tackling repairs yourself. I'm not going to tackle complex jobs myself so I'm more comfortable with a warranty. 

 

 

Thats a good point and you have even changed out yourself the A/C condenser which is impressive, but wasn't that covered by your warranty?

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Thanks Andrew but it's nowhere near the level of things you guys are dealing with! 

It probably was covered by warranty but I had an excess at the time and didn't think it worth claiming. I've since reduced it to nil. 

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2 hours ago, nashdm2 said:

Those are absurd prices.

 

Yup. And totally reflective of the average failure rate and cost to repair across all models in the f10 range at that mileage (plus profits of course). I'm sure the 2.0d timing chains are bumping up the price.  Then again a set of injectors on the n53 is 1k, but I've already had that done :D

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1 minute ago, 535i Andrew said:

 

I see that as you would still be £950 out of pocket! :ph34r:

 

Agree, same!.

 

Though I suspected the injectors were faulty shortly after I bought the car because it's an n53 and a little misfire which cleared after restart. So I took the warranty out and as soon as I could got the injectors replaced (along with rear shocks, front wishbones - none of which needed doing). My mistake was letting the warranty run for another year after I'd kerchinged it, £950pa at the time, so wasn't as up as I could have been overall by the time 2 lots of £250 excess were accounted for. Not even mentioning the poor workmanship.

 

For anyone handy with spanners and able to use the Internet (which is all the bmw master technicians do anyway) you're better off doing the work yourself and not bothering with warranty IMO.

 

It's an absurd price now at £1950 so is a no brainer to not run it.

 

 

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