EXTENDED WARRANTY through Insurance Carrier - Geico. 7 years/100,000 miles for $210! ??

[Cmerkert]

EXTENDED WARRANTY through Insurance Carrier - Geico. 7 years/100,000 miles for $210! ??

I am getting my insurance binder for the new arrival and Geico mentioned to me that I can purchase an Bumper to Bumper Extended Warranty through them of 7 years / 100,000 miles for $30 per year for either the 7 years or 100,000 miles (whichever comes first). I only drive about 8,000 miles a year, so going to definitely be the 7 years. So that's $210 for 7 years (really +2 years after FCA warranty). Does this sound too good to be true?? I saw people posting about buying extended warranties through FCA from a few dealers and they were $1,000 to $2,000+. Does anyone have any experience with this?

Update:
So I just looked it up and read a few reviews. Take a look. I appears to be very good. They both say it actually covers more, and you can bring your vehicle to any repair place to be repaired, not just the dealer.

Geico MBI Review - The Truth about Geico's MBI
Geico's MBI Info

Anyone have experience or first hand info? How good is the coverage? FCA parts, dealers accept it?
Sounds way too good to be true, but is is Geico so they are reputable, and she said it is bumper to bumper.

 

[whododat]

As picky as a dealer can be, I would not go with anything but a Mopar warranty. There are already a number of reasons they will decline coverage but to rely on a non Mopar warranty would be taking a chance in my opinion. And yes, that does seem to be too good to be true.
Just my 2 cents.

 

[moosem]

I would double check, I’m guessing it’s $30 per month! And there’s nothing wrong with an extended warranty from a third party. It’s not up to the dealer to take it or not, it’s up to the warranty provider. You don’t even have to go to a RAM dealer to use the warranty.

 

[Cmerkert]

As picky as a dealer can be, I would not go with anything but a Mopar warranty. There are already a number of reasons they will decline coverage but to rely on a non Mopar warranty would be taking a chance in my opinion. And yes, that does seem to be too good to be true.
Just my 2 cents.

I agree on that point, and that was the genesis of my question.
Maybe as the extended warranty it would even be worth it. Use FCA/Mopar for the 5 year warranty, and then in the additional 2 years (up to the 7 years) use this Geico MBI as you would be out of the dealer warranty anyway. Even when not using the first 5 years of it, it would still be worth it as it only costs me $210 for the full 7 years (w/ $250 deductible). So that in itself is cheap for +2 years. I wish it went to 10/100K. At $30 a year, that's cheap! I see Mopar warranties going for $2,000 in the forum. And it would be nice to bring it to my mechanic to repair.

 

[Cmerkert]

I would double check, I’m guessing it’s $30 per month! And there’s nothing wrong with an extended warranty from a third party. It’s not up to the dealer to take it or not, it’s up to the warranty provider. You don’t even have to go to a RAM dealer to use the warranty.

I Triple checked! Online and asked the Geico Rep. It shows it on my insurance policy. The actual cost is $15 per 6 months ($30/year)!

 

[whetrick1]

I Triple checked! Online and asked the Geico Rep. It shows it on my insurance policy. The actual cost is $15 per 6 months ($30/year)!

View attachment 18921

Yeah but you have to pay a 250.00 dollar deductible each time you take it in and on my extended warranty there's no deductible and they have to supply you a car until your vehicle is fixed. And if your out of state they will also pay your motel room.


Sent from my iPhone using Tapatalk

 

[Cmerkert]

Yeah but you have to pay a 250.00 dollar deductible each time you take it in and on my extended warranty there's no deductible and they have to supply you a car until your vehicle is fixed. And if your out of state they will also pay your motel room.


Sent from my iPhone using Tapatalk

Good points. That's good that you got your Extended with a $0 deductible. How much did that run you? I am figuring that in the 2 years (years 6 and 7) the this covers, one would hopefully only have one or 2 issues. Yes, some will be more, some will be less, but realistically, in 2 years, there are not a ton of mechanical breakdowns, so the extra $250-500 in deductible onto of the $210 total cost still comes out ahead. As far as car rental, I see FCA does NOT offer dealer loaners, only breakdown at $35/day. Geico also offers car rental but at $50/day, so that's a wash, or a win for Geico. By no means am I trying to pick or sell one over the other, just trying to do a comparison. And at the least, even if it ends up being somewhat of a waste, it's only $210. Heck, guys have tinted their windows or bought Pulsars, pedal commanders, or Tazers, each for more than that.

 

[moosem]

The one I got from my credit union was around $2000, Bumper to Bumper (sort of); 7 years/100k miles; It has a $0 deductible, and they also allow $35.00/day for a rental.

Remember, the Basic Limited Warranty from the manufacturer is for 3 Years/ 36000 miles, and the Powertrain Warranty is for 5 years / 60000 miles.

So, the extended warranty provides four additional years "Bumper to Bumper" and two additional years Powertrain.

NOTE: I call mine "sort of" Bumper to Bumper because there are certain things that are not covered, such as exhaust, airbags, "sound reproduction", etc.

Furthermore, I noticed that FCA does not call the warranty "Bumper to Bumper" anymore.

I'm not sure if the FCA Extended Warranty covers everything, or if there are certain exclusions?

 

[Cmerkert]

I forgot it's 3/36K and 5/60K Powertrain. Thanks. Guess I'll remember that more once my truck arrives.

So that give this Geico warranty 4 years of additional extended coverage (years 4-7) and not just 2 (6-7).
The independent reviews I have seen also state that it actually does cover more than the manufacturers warranty because, exactly as you say it, the manu. warranties are starting to add more exclusions. So that makes it look even better. At $2000 for the FCA extended warranty, this MBI would require 7 $250 deductible warranty repairs to break even. I surely doubt I would be bringing in my truck 1 1/2 to 2 times a year each year for warranty repairs in the final 4 years just to break even.

 

[moosem]

Hopefully not! Honestly, they're all a scam. They don't lose money on them!!

I forgot it's 3/36K and 5/60K Powertrain. Thanks. Guess I'll remember that more once my truck arrives.

So that give this Geico warranty 4 years of additional extended coverage (years 4-7) and not just 2 (6-7).
The independent reviews I have seen also state that it actually does cover more than the manufacturers warranty because, exactly as you say it, the manu. warranties are starting to add more exclusions. So that makes it look even better. At $2000 for the FCA extended warranty, this MBI would require 7 $250 deductible warranty repairs to break even. I surely doubt I would be bringing in my truck 1 1/2 to 2 times a year each year for warranty repairs in the final 4 years just to break even.

 

[DanSkan]

Some dealers offer a limited lifetime powertrain warranty - non transferable as an extra cost or included to sweeten the deal. One dealer wanted an additional $2500 for the warranty added onto the sticker and other dealers included it in the deal at no extra cost. Because it is non transferable thye probably bank on the truck being sold or traded before any major powertrain repair is needed.

I was originally skeptical but after further review, it is legitimate and added value to my purchase. It is not a true mopar warranty but is good at any mopar shop and like any warranty, you must check with your non mopar service shop to see if they will accept the service warranty because some service warranties are a PITA for the service center to get paid.

If my powertrain has a lifetime warranty I don't worry so much about the other things after the mopar warranty expires. I do have to keep good service records and take it back to a dealer every once in a while for a checkup.

 

[whetrick1]

My warranty was bought through the dealer but not the Mopar warranty. They also sale other companies warranties. Either way if your happy with what you got that's all that matters. I'm not bashing anyone that takes out an extra warranty. That for that peice of mind knowing that your covered.


Sent from my iPhone using Tapatalk

 

[grinch72]

EXTENDED WARRANTY through Insurance Carrier - Geico. 7 years/100,000 miles for $210! ??

I am getting my insurance binder for the new arrival and Geico mentioned to me that I can purchase an Bumper to Bumper Extended Warranty through them of 7 years / 100,000 miles for $30 per year for either the 7 years or 100,000 miles (whichever comes first). I only drive about 8,000 miles a year, so going to definitely be the 7 years. So that's $210 for 7 years (really +2 years after FCA warranty). Does this sound too good to be true?? I saw people posting about buying extended warranties through FCA from a few dealers and they were $1,000 to $2,000+. Does anyone have any experience with this?

Update:
So I just looked it up and read a few reviews. Take a look. I appears to be very good. They both say it actually covers more, and you can bring your vehicle to any repair place to be repaired, not just the dealer.

Geico MBI Review - The Truth about Geico's MBI
Geico's MBI Info

Anyone have experience or first hand info? How good is the coverage? FCA parts, dealers accept it?
Sounds way too good to be true, but is is Geico so they are reputable, and she said it is bumper to bumper.

Absolutely the best hidden gem of GEICO... Worth every penny!

 

[Rtl Colorado]

I have the GEICO warranty and the other selling point was the Windshield
Replacement being part of it.
I know you can add glass to any policy
But around the same cost as the warranty.
I will double check with GEICO as my deal is 6 or 7 dollars a month extra
And at 900 a windshield it will pay for itself.

 

[Cmerkert]

I have the GEICO warranty and the other selling point was the Windshield
Replacement being part of it.
I know you can add glass to any policy
But around the same cost as the warranty.
I will double check with GEICO as my deal is 6 or 7 dollars a month extra
And at 900 a windshield it will pay for itself.

Thats funny you say that. I just had Geico come and replace windshields on BOTH our cars. My Avalanche last Monday and my wife's minivan on Wed. Wanted the minivan replaced and not repaired because we are going to sell or trade it in when my truck comes in, and wanted a clean windshield. They did it with absolutely no problem. 2 windshields in 2 days and no charge.

Thinking this Geico warranty is the best thing out there, and Geico always pays on any claims too. Love them.

 

[jimk hunt]

The most important consideration on any extended warranty is who is backing it. The extended warranty business is littered with dead companies that leave policy holders with worthless paper. That's why you can trust an FCA or Geico warranty. Financially solid companies backing it up. Many of the 3rd party warranties sold by dealers offer them a higher commission than FCA. Why else would they sell them? I think the FCA warranty is also transferable if that matters to you.

 

[Tilter]

The Geico Warranty is OUTSTANDING. My family has been using it for 20 years with nary an issue. Sure they don't pay for your rental and there's a deductible but if you do the math you will still save a ton. And I rate it well over the MOPAR because you can get the work done anywhere.

 

[John813]

I got it. Figured for the cost it was worth trying it out and if it sucked down the road at least I didn't shell out a bunch of cash for it.

 

[Jagtyson]

I Triple checked! Online and asked the Geico Rep. It shows it on my insurance policy. The actual cost is $15 per 6 months ($30/year)!

View attachment 18921

Cmerkert, where are you located? I used you screen shot to call Geico and ask why your extended warranty was $15 every 6 months and my online quote for my 2019 Laramie was $37 each 6 months? Didn't get a good answer other than different market area, location, state.....

I'm in iowa...but even at $510 over 7 years to get basically 100% warranty coverage (less damage and consumables) is a great deal. Would be better at your $210 figure.

 

[klail]

Cmerkert, where are you located? I used you screen shot to call Geico and ask why your extended warranty was $15 every 6 months and my online quote for my 2019 Laramie was $37 each 6 months? Didn't get a good answer other than different market area, location, state.....

I'm in iowa...but even at $510 over 7 years to get basically 100% warranty coverage (less damage and consumables) is a great deal. Would be better at your $210 figure.

@Cmerkert is in NY