Alternative to Extended Warranty?
#1
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I was on the phone with GEICO and they put me on hold and I heard about a product called "MultiRisk".
Apparently, it's similar (but different) to an extended warranty.
Here is how it works...
$30.50/6 months, or $61/year for seven years totalling $427 (but it's payable over time, not up front)
Coverage is up to 7 years or 100,000 miles.
They cover everything (no fine print, or at least that is what the rep told me, the papers are in the mail) except normal maintenance.
Only catch....there is a $250 deductable per event (yes, that's a lot).
Not sure if that's a good deal, or not, but will look it over.
Apparently, it's similar (but different) to an extended warranty.
Here is how it works...
$30.50/6 months, or $61/year for seven years totalling $427 (but it's payable over time, not up front)
Coverage is up to 7 years or 100,000 miles.
They cover everything (no fine print, or at least that is what the rep told me, the papers are in the mail) except normal maintenance.
Only catch....there is a $250 deductable per event (yes, that's a lot).
Not sure if that's a good deal, or not, but will look it over.
Last edited by haroldo; 04-24-2008 at 12:25 PM.
#2
![Default](https://electricvehicleforums.com/forums/images/icons/icon1.gif)
I was on the phone with GEICO and they put me on hold and I heard about a product called "MultiRisk".
Apparently, it's similar (but different) to an extended warranty.
Here is how it works...
$30.50/6 months, or $61/year for seven years totalling $427 (but it's payable over time, not up front)
Coverage is up to 7 years or 100,000 miles.
They cover everything (no fine print, or at least that is what the rep told me, the papers are in the mail) except normal maintenance.
Only catch....there is a $250 deductable per event (yes, that's a lot).
Not sure if that's a good deal, or not, but will look it over.
Apparently, it's similar (but different) to an extended warranty.
Here is how it works...
$30.50/6 months, or $61/year for seven years totalling $427 (but it's payable over time, not up front)
Coverage is up to 7 years or 100,000 miles.
They cover everything (no fine print, or at least that is what the rep told me, the papers are in the mail) except normal maintenance.
Only catch....there is a $250 deductable per event (yes, that's a lot).
Not sure if that's a good deal, or not, but will look it over.
#3
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A traditional insurance policy for the traditional reason - coverage against losses that would have major impact to your finances. If you are worried about catastrophic failure, this is the way to go. I would guess that the obligation can terminate at any time, such as if you sell the car or reach 100,000 miles, so the potential cost is even less than $427. Or does it work like car insurance such that if you put on miles faster there is a higher premium?
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