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#3093 of 3172 Re: Florida Law regarding extended warranty pricing [mikefm58]
Apr 24, 2012 (3:32 am)
Yes, any alert negotiator should easily negotiate away the dealer fees!
Stand your ground - such a vague phrase with so many interpretations. In Maryland stand your ground generally means standing strong against such things as outrageous dealer fees. A vast difference from Florida's interpretation of the phrase.
To set the record straight and factual, we progressives in Maryland are not anti-gun or high tax lovers. It is true we do recognize the value of sensible fire arm regulation as well as the value of well spent taxes and well designed tax laws. We truly do understand the Second Amendment along with most of the others.
I think Rhode Island, Vermont, Oregon and Washington should be in any list of "anti gun high tax liberal states." All very nice places to raise a family in relative safety, in case anyone is interested in such things.
#3094 of 3172 Re: Florida Law regarding extended warranty pricing [robr2]
May 13, 2012 (4:52 pm)
I found this revision recently for Florida. It might be the one thing I am glad about Rick Scott. I found this in a different forum.
Motor Vehicle Service Agreement - Forms & Rate Issues
As a result of SB 2176, effective 06/01/2010, the requirement that forms and rates for motor vehicle service agreements (also referred to as an auto extended warranty).be filed and approved by the Office of Insurance Regulation has been lifted.
By July 1, 2011, each service agreement sold in this state must be accompanied by a written disclosure to the consumer that the rate charged for the service agreement is not subject to regulation by the OIR. A service agreement company may comply with this requirement by including such disclosure in its service agreement form or in a separate written notice provided to the consumer at the time of sale.
The OIR may order a service agreement company to stop using a form that:
1. Is in violation of or does not comply with the Florida Insurance Code or an Administrative Rule.
2. Contains any inconsistent, ambiguous, or misleading clauses, or exceptions and conditions which deceptively affect the risk purported to be assumed in the general coverage of the service agreement.
3. Has any title, heading, or other indication of its provisions which is misleading.
4. Is printed or otherwise reproduced in such manner as to render any material provision of the form substantially illegible.
5. Contains any provision which is unfair or inequitable or which encourages misrepresentation.
6. Contains any provision which makes it difficult to determine the actual insurer or service agreement company issuing the form.
7. Contains any provision for reducing claim payments due to depreciation of parts, except for marine engines.
#3095 of 3172 2 Quotes for Extended Warranty on 2007 Civic in Florida
May 24, 2012 (6:13 am)
I've gotten two quotes for extended auto warranties.
One from Assurant via USAA for 2 years, 24k miles for $1,200 - no waiting period, no deductibles.
One from Mercury via AAA for 4 years, 48k miles for $1,900 - one month waiting period, $100 deductible per breakdown/repair (regardless of the number of parts.)
#3096 of 3172 Very pleased with GEICO Mechanical Breakdown Coverage
Jun 29, 2012 (3:40 pm)
I want to share my (excellent) experiences with GEICO MBI.
This has covered my 1999 auto (150k+ miles) and is part of my GEICO automobile insurance. It has a $250 deductible for each occurrence.
The cost (in my situation) has been $97 per year (First year, while car was under manufacturers warranty cost $30.) However, I am required to carry collision and comprehensive insurance as well so since my car is 13 years old and normally I would have dropped this, the cost is actually much higher.
(In my situation, the coverage is indefinite - so long as I keep my GEICO policy (including collision/comprehensive coverage.) Currently, I believe they only offer this for 7yr/100k miles and most owners would keep their collision/comprehensive insurance anyway.)
Here is why I like this instead of a standard extended warranty. With the standard extended warranty, the issuer receives the full premium in advance and it is to their benefit to avoid paying out claims to the extent they can. With the GEICO plan, they are collecting a portion of the premium every six months. They have additional incentive to keep the consumer happy so as to not completely loose them as an auto insurance customer.
GEICO requires that any repair be authorized by them first before work (other than the diagnosis) begins. They have always allowed me to bring my car to the service facility of my choice. The usual procedure is I report the problem to GEICO and bring the car to the shop. The shop contacts GEICO and explains the problem and repair cost. GEICO then either 1) approves the repair, 2) sends an inspector out to examine the car at the repair facility and if they agree, approves the repair or 3) explains why they won't cover the repair (normal maintenance item, they don't feel repair is needed, the failed part is covered under the manufacturer's warranty or the car was not adequately maintained (this last one never happened with me.)) When the repair is covered, I pay the $250 deductible and GEICO directly pays the rest by credit card.
The reason I have been so pleased with this coverage is because GEICO acts as an intermediary between myself and the repair facility. I am not sufficiently knowledgeable about repairs to know if I am being taken advantage of when it comes to repairs - so GEICO does this for me. I've also received advice from the GEICO claims adjuster. On one occasion when a failure (leaking exhause system) was not covered, he suggested that instead of having the full pipe replace for $750 that I just bring it elsewhere and have it corrected with flexible tubing.
So, before anyone asks, I have no financial interest in the insurance company - I'm not an owner. I've just been very please with this product.
#3097 of 3172 Re: Very pleased with GEICO Mechanical Breakdown Coverage [brooklyn_rick]
Jun 29, 2012 (4:56 pm)
Hard to get worried about $97/year. My problem is with the thousand/multi thousand dollar ones. Recently had another discussion about an 86 year old being pushed to buy a $7000 warranty for a 15 year old car. THAT'S criminal!
#3098 of 3172 Re: Very pleased with GEICO Mechanical Breakdown Coverage [brooklyn_rick]
Jul 01, 2012 (3:48 pm)
No financial interest? LOL, yeah right. How long have you been working for GEICO? Us regular people don't write such wordy reviews.
#3099 of 3172 Re: Very pleased with GEICO Mechanical Breakdown Coverage [mikefm58]
by Kirstie@Edmunds HOST
Jul 02, 2012 (8:00 am)
Incorrect - we have all sorts of people who write wordy reviews.
If you don't have any evidence or don't like the post, you are free to ignore it.
#3100 of 3172 Re: Don't buy it [oldbearcat]
Jul 08, 2012 (3:06 pm)
I first bought an extended warranty on a '96 Jeep Grand Cherokee that was a three year old lease car. For $975.00, I received approx. $5,000.00 dollars worth of Dealer-Repaired items from new rear end, ventilation repair(removing entire dash) to intake manifold gasket, rear-end oil-seal gasket and such w/ $50.00 deductible.
For me it is the only way to go for peace of mind and non-budgeted surprises.
Count me in,
P.S. I am now looking for another one for a 2007 Hyundai. Who would be recommended?
Jul 20, 2012 (9:12 am)
If you had coverage with one of the US Fidelis companies, it's time to get your claim in with the bankruptcy court.
In re US Fidelis, Inc.
Steve, visiting host
#3102 of 3172 Re: US Fidelis [steve_]
Jul 20, 2012 (9:18 am)
"US Fidelisí growth was fueled by a number of illegal, fraudulent or misleading practices."
This explanation for why they went bankrupt probably applies to other similar companies still operating. They just haven't gone out of business yet!
I remember hearing all the radio ads for US Fidelis a few years ago, they sure SOUNDED trustworthy!