M5POST
BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read

Go Back   M5POST - BMW M5 Forum > F10 M5 Forum > BMW M5 (F10) General Forum

Post Reply
 
Thread Tools Search this Thread
      12-17-2019, 06:08 PM   #1
vafan13
Lieutenant
United_States
294
Rep
538
Posts

Drives: Sakhir Orange F10 M5
Join Date: Feb 2019
Location: Michigan

iTrader: (2)

The importance of a warranty

I know there's been numerous discussions on how important a warranty actually is, but wanted to give my own experience. During my first oil change not long ago there was a decent amount of transmission fluid found and I ended up needing new cooling lines and a new transmission oil pan. My warranty paid out a cool $2850 to get it fixed, and I had already had an a/c compressor replaced under warranty as well.

So in short: for me it was damn worth it and I've now had more paid out than I paid for the warranty itself, and still have ~6 1/2 years left of coverage. I also want to say that the warranty company, ASC, has been great. The service rep at BMW said they're the easiest he's ever worked with, so I'd highly recommend them.
Appreciate 0
      12-17-2019, 07:12 PM   #2
94jedi
Major
United_States
829
Rep
1,254
Posts

Drives: 2009 e92 M3
Join Date: Oct 2014
Location: United States

iTrader: (0)

vafan13 are they mod friendly?
__________________
Appreciate 0
      12-17-2019, 11:08 PM   #3
HXS
Licensed Drug Dealer
HXS's Avatar
United_States
741
Rep
2,269
Posts

Drives: F10 M5
Join Date: Oct 2010
Location: SoCal

iTrader: (7)

Can you provide some details about your coverage? Like pricing, which plan you chose, etc
Appreciate 0
      12-18-2019, 07:18 AM   #4
vafan13
Lieutenant
United_States
294
Rep
538
Posts

Drives: Sakhir Orange F10 M5
Join Date: Feb 2019
Location: Michigan

iTrader: (2)

It's their "factory type coverage", which they define as everything covered under the original warranty* except for a list of normal maintenance items and certain electronics (nav, cameras, etc.), but I added the optional Tech Package, which then leaves the exclusions at just the normal maintenance items. The policy is good for 7 years or 120K on the odo and I paid $3500 through the dealership. Personally, I think ASC goofed on the price quote, as it seems way out of line with others and even the sales manager at the dealership seemed genuinely surprised.

As far as being mod friendly, I really can't say. I haven't explicitly asked and the closest they address it in the contract is what feels like a fairly standard line about not covering "repairs as a result of alterations not recommended by the manufacturer or the failure to perform recommended maintenance by the manufacturer", but not sure how they would behave in practice. For the $2850 in transmission leak repairs they wanted just a few pictures and a call with the BMW service rep. (thus far) it doesn't feel like they've gone sniffing around for reasons to not pay up.


*but a note for anyone getting one for them on a FI car: you still have to add the optional factory super/turbocharger coverage. Was just $150, but don't want to leave that off.
Appreciate 1
HXS741.00
      12-18-2019, 09:21 AM   #5
luv135i
Major
luv135i's Avatar
60
Rep
1,073
Posts

Drives: White
Join Date: Nov 2009
Location: GA

iTrader: (0)

The big question is can anyone buy it or does it have to be purchased at time of sale from a dealer or specific financial institution? Third party warranties are getting harder to come by for these cars.
Appreciate 0
      01-08-2020, 12:58 PM   #6
texsn95
Private First Class
56
Rep
145
Posts

Drives: 2014 Frozen Silver M5
Join Date: Feb 2016
Location: Houston

iTrader: (0)

I just got off chat with ASC about covering a 2014 M5 with 11k miles, no dice

Quote:
I do apologize Clint and thank you for that additional information. Unfortunately, our underwriter does place restrictions on certain luxury makes such and Mercedes and BMW. I regret that we are not able to assist you with your specific warranty needs for this vehicle.
Appreciate 0
      01-08-2020, 01:18 PM   #7
texsn95
Private First Class
56
Rep
145
Posts

Drives: 2014 Frozen Silver M5
Join Date: Feb 2016
Location: Houston

iTrader: (0)

Got a bite from another outfit. Will have to do some research because I doubt it's an exclusionary policy - Edit, apparently it is
https://patriotwarranty.com/extended...whats-covered/

Pricing was very competitive.

Google reviews

Hello Clint,
My name is Stephen West and I am a Senior VSC Specialist at Patriot Warranty.We spoke a while ago, about a vehicle service contract quote on your 2014 BMW M5. Everything we spoke about is included below for your review. Attached is the service contract on what is covered. Like I mentioned on our phone call, purchasing a contract with us involves no risk. We give you an unconditional 30 day moneyback guarantee!

Your Personalized Quote:
Covered Vehicle: 2014 BMW M5 11050 Miles

Coverage Plan: Patriot Premier Elite

Plan Term: 5 Years / 50,000 additional miles



CALL (866) 634-7978 Ext 740 & FINALIZE COVERAGE!
Stephen West
swest@patriotwarranty.com

Last edited by texsn95; 01-09-2020 at 10:09 AM..
Appreciate 0
      01-08-2020, 02:20 PM   #8
vafan13
Lieutenant
United_States
294
Rep
538
Posts

Drives: Sakhir Orange F10 M5
Join Date: Feb 2019
Location: Michigan

iTrader: (2)

Bummer about ASC. Not sure if that's my fault, or they just don't want to insure them outside of a dealer car. The dealer might have mentioned something about my car having been under BMW warranty up until being sold to them. That could have been the difference, too.

I don't know anything about Patriot, but if the online reviews are to be believed, they look pretty legit.
Appreciate 0
      01-08-2020, 02:48 PM   #9
texsn95
Private First Class
56
Rep
145
Posts

Drives: 2014 Frozen Silver M5
Join Date: Feb 2016
Location: Houston

iTrader: (0)

Yeah all your fault!

Added the Google review link that Steve sent me.
Appreciate 0
      01-08-2020, 03:34 PM   #10
texsn95
Private First Class
56
Rep
145
Posts

Drives: 2014 Frozen Silver M5
Join Date: Feb 2016
Location: Houston

iTrader: (0)

I actually just put down a deposit on a policy, fully refundable if the vehicle purchase doesn't go through. $0 deductible, 5/50. Steve's good to go, spoke with him for 30 minutes. Also got a rim and road hazard coverage to go along with it.

Last edited by texsn95; 01-09-2020 at 09:42 AM..
Appreciate 0
      01-09-2020, 03:41 PM   #11
AirBull
Private First Class
AirBull's Avatar
United_States
78
Rep
108
Posts

Drives: 2015 BMW M5
Join Date: Feb 2014
Location: Central Texas

iTrader: (0)

Garage List
2015 BMW M5  [0.00]
Exclusion type policies are usually the way to go, but you really have to read the details of the specific verbiage provided in the contract that is presented to you. Print it out and go over it with a highlighter. Read about the specific process they layout for making a claim. Know your policy.

A big deal-breaker that I have run into with multiple quotes on extended service contracts is the aggregate limit of the policy. This is essentially the amount that they will pay over the life cycle (period of performance) of the contract. The sample contract posted on Patriot Warranty's website says "OUR aggregate limit of liability under this VEHICLE SERVICE CONTRACT for REPAIR COST or for any other purpose is the amount YOU paid for the VEHICLE."

When I called this morning, that was also what I was told. I too was able to get a good deal on a VSC and decided to try it. They asked for a copy of bill of sale when I bought the vehicle which I in my mind meshed with what I was told, about how the aggregate limit was tied to the purchase price of the vehicle.

After just getting around to reading the specific contract that I was presented earlier this morning, the verbiage for the same section III is, believe it or not, actually contrary to what they presented in their sample policy. In my specific contract, it reads "OUR aggregate limit of liability, the total of all claims and benefits paid or payable while this VEHICLE SERVICE CONTRACT is in force shall not exceed $15,000."

I called them back and they agreed to increase the aggregate limit up to $40,000 which ultimately for this price on the VSC, I believe is fair, but it should reiterate to you the importance to do your own due diligence: read your specific contract and know what it says. Be able to speak to it.
__________________
2015 BMW F10 M5 | Competition Package | Driving Assistance Pkg | Executive Pkg | Bang & Olufsen | 343M 2NZ wheels

Born 02.27.2015 in Dingolfing

Last edited by AirBull; 01-09-2020 at 03:57 PM..
Appreciate 1
      01-10-2020, 06:57 AM   #12
technician117
Captain
United_States
251
Rep
606
Posts

Drives: 2000 M5, 2001 M5, 2013 M5 6MT
Join Date: Jul 2018
Location: Buffalo

iTrader: (1)

Garage List
1990 BMW M5  [0.00]
2000 BMW M5  [0.00]
2013 BMW M5  [0.00]
Quote:
Originally Posted by AirBull View Post
Exclusion type policies are usually the way to go, but you really have to read the details of the specific verbiage provided in the contract that is presented to you. Print it out and go over it with a highlighter. Read about the specific process they layout for making a claim. Know your policy.

A big deal-breaker that I have run into with multiple quotes on extended service contracts is the aggregate limit of the policy. This is essentially the amount that they will pay over the life cycle (period of performance) of the contract. The sample contract posted on Patriot Warranty's website says "OUR aggregate limit of liability under this VEHICLE SERVICE CONTRACT for REPAIR COST or for any other purpose is the amount YOU paid for the VEHICLE."

When I called this morning, that was also what I was told. I too was able to get a good deal on a VSC and decided to try it. They asked for a copy of bill of sale when I bought the vehicle which I in my mind meshed with what I was told, about how the aggregate limit was tied to the purchase price of the vehicle.

After just getting around to reading the specific contract that I was presented earlier this morning, the verbiage for the same section III is, believe it or not, actually contrary to what they presented in their sample policy. In my specific contract, it reads "OUR aggregate limit of liability, the total of all claims and benefits paid or payable while this VEHICLE SERVICE CONTRACT is in force shall not exceed $15,000."

I called them back and they agreed to increase the aggregate limit up to $40,000 which ultimately for this price on the VSC, I believe is fair, but it should reiterate to you the importance to do your own due diligence: read your specific contract and know what it says. Be able to speak to it.
Nice work. Your post should be super helpful for those still looking to have a warranty. They tried to pull the ole switcheroo. I see this in my business once in a while in construction contracts. Usually for completion dates. "oh yeah, we don't have a completion date" or "you have 1 month". Then the contract comes with a clause for completing the work within 3 weeks or something even more silly.
Appreciate 0
      01-10-2020, 08:45 AM   #13
texsn95
Private First Class
56
Rep
145
Posts

Drives: 2014 Frozen Silver M5
Join Date: Feb 2016
Location: Houston

iTrader: (0)

Airbull thanks. Looks like my purchase is going through, so I'll have them revise my start / end dates and will verify this amount.
Appreciate 0
      01-10-2020, 10:04 AM   #14
spudslatte
Private
10
Rep
84
Posts

Drives: 2016 X3 x28i F25 70k mi
Join Date: Nov 2019
Location: East Coast

iTrader: (0)

I just signed on with Patriot Warranty for 5 yr / 50K even though I am disabled and will never hit the 50K, but plan to hit the 5 yrs. He was very thorough and accommodating. He also answered all the questions I had about the less than reputable companies who had loopholes in their fine prints.

I am comfortable with the price at this point and the discounts you can get as a military vet and a disabled person, among others... good luck
Appreciate 0
      01-10-2020, 10:32 AM   #15
texsn95
Private First Class
56
Rep
145
Posts

Drives: 2014 Frozen Silver M5
Join Date: Feb 2016
Location: Houston

iTrader: (0)

Thank you for your service. USMCR for 6+ years here but was never deployed. He was able to get me the military discount as well.
Appreciate 0
      01-10-2020, 04:38 PM   #16
cudakid03
Private
101
Rep
78
Posts

Drives: 2013 M5
Join Date: Jan 2020
Location: SC

iTrader: (0)

Does anyone have experience with Concord Auto Protect warranties?
Appreciate 0
      01-13-2020, 08:04 AM   #17
AirBull
Private First Class
AirBull's Avatar
United_States
78
Rep
108
Posts

Drives: 2015 BMW M5
Join Date: Feb 2014
Location: Central Texas

iTrader: (0)

Garage List
2015 BMW M5  [0.00]
My experience with Patriot thus far has been promises on the phone, but verbiage in the actual contract that speaks to the contrary.

First was the issue over the aggregate limit; I was told it would be the price that I paid for the vehicle but when I got my contract, it was only $15,000. They bumped it up to $40,000 when I pointed this out, but that was just the first of what have become multiple discrepancies.

Then I continued to read and realized that my particular contract had the shop labor rates capped at $125/hour when I was specifically told there was no cap, and as an example, if my BMW dealer charged $199/hour they would pay it. Well, that's not what my contract says.

I don't agree with the sentence they included in the same section I. subpart P., Repair Cost, where they say "they reserve the right to supply the covered replacement part/parts needed to complete the repair." I'm pretty sure my BMW dealer would not allow that and I'm not putting salvage or used parts on my M5. If they are willing to pay retail for parts, then they should be able to simply omit that sentence.

Then, read further under Section V for Exclusions, and note F: automated manual gearbox transmissions (DCT, PDK, SMG,) are not covered. So there goes any protection for our transmissions.

But the biggest thing that was just getting to me was why in the first place were they even detailing all these sections of "what is covered," if in fact, it was an exclusionary policy like they advertised on their website? Turns out, it's not really an exclusionary policyas under V. subpart L., they specifically say that any and all parts which are not specifically listed under these previous coverage details are thereby excluded under the terms of this agreement. That's called an inclusionary policy where they specifically list what IS covered. A bumper to bumper warranty is a good example of an exclusionary policy, where they don't waste their time telling you all that is covered, they simply tell you what is not covered, like tires, brake pads, and other wear items.

To me, this contract and others like it just read like they are going to find a way out of paying your claims should you need to file one. Look how the policy defines what actually constitutes a "breakdown", which is the only way they will pay. They may even be nice once or twice, but this policy is not exactly worded in your favor and if they want, they can probably find a way out of paying your claim.

Me personally, I'm going to keep looking.
__________________
2015 BMW F10 M5 | Competition Package | Driving Assistance Pkg | Executive Pkg | Bang & Olufsen | 343M 2NZ wheels

Born 02.27.2015 in Dingolfing
Appreciate 0
      01-13-2020, 09:33 AM   #18
vafan13
Lieutenant
United_States
294
Rep
538
Posts

Drives: Sakhir Orange F10 M5
Join Date: Feb 2019
Location: Michigan

iTrader: (2)

Bummer, but certainly good to figure that out before signing instead of after. At minimum it speaks to how careful one has to be in reading the actual contract for an aftermarket warranty like this.

As you said, exclusionary is what one wants. Mine simply states "includes all items covered under the manufacturer's original coverage except for those items listed under 'items not covered.'" That list is normal maintenance items, plus a bunch of tech stuff (lane departure, nav, etc.) which are then added back in by an optimal "high tech package".
Appreciate 0
      01-13-2020, 10:47 AM   #19
texsn95
Private First Class
56
Rep
145
Posts

Drives: 2014 Frozen Silver M5
Join Date: Feb 2016
Location: Houston

iTrader: (0)

Air

My section P reads as follows and see not mention of a labor rate cap. Note that this is the sample contract and is not specific to me yet since I haven't taken ownership of the car or assigned an aggregate value:

Section 5 Note F makes not mention of excluding the DCT, but does say
Attached Images
  
Appreciate 0
      01-13-2020, 11:33 AM   #20
texsn95
Private First Class
56
Rep
145
Posts

Drives: 2014 Frozen Silver M5
Join Date: Feb 2016
Location: Houston

iTrader: (0)

I used Warrantech for my 06 with an exclusionary policy and had great results. Motor and TB actuator claim in 2014. I just called and they go through a few secondary vendors (in addition to the dealerships selling the vehicle), one is Toco Warranty and the other First Guard, which both offer exclusionary policies.

See here

https://www.tocowarranty.com/vehicle-coverage

Quote:
The Orange plan is an exclusionary contract, which means that it lists parts that are NOT covered by the contract in the Exclusions section.
vs

Quote:
The Yellow Plan is a Listed-Parts Coverage plan, which means that it contains a list of parts that are covered, a list of parts that are not covered, as well as certain situations in which parts or breakdowns, that might otherwise be covered, are not
But the Orange Plan says 2016 or newer. Might be worth a call though.

Edit: Just called First Guard and they said they only sell directly through the dealership where you purchase the car, so scratch that.

Last edited by texsn95; 01-13-2020 at 11:55 AM..
Appreciate 0
      01-14-2020, 07:54 AM   #21
AirBull
Private First Class
AirBull's Avatar
United_States
78
Rep
108
Posts

Drives: 2015 BMW M5
Join Date: Feb 2014
Location: Central Texas

iTrader: (0)

Garage List
2015 BMW M5  [0.00]
Here is a good link on what to look for in an extended warranty. Endurance won't do an M5, at all.

https://www.autocheatsheet.com/exten...-warranty.html
__________________
2015 BMW F10 M5 | Competition Package | Driving Assistance Pkg | Executive Pkg | Bang & Olufsen | 343M 2NZ wheels

Born 02.27.2015 in Dingolfing
Appreciate 0
      01-14-2020, 09:43 AM   #22
spudslatte
Private
10
Rep
84
Posts

Drives: 2016 X3 x28i F25 70k mi
Join Date: Nov 2019
Location: East Coast

iTrader: (0)

Concord Auto Protect is a terrific warranty company - I have had them on previous vehicles; however, like I am finding with most (like Endurance) they will not warranty M or AMG vehicles
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 08:39 AM.




m5post
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST