Hot Deal on Auto Extended Warranty (WarrantyWizard.com)?

[insite]

I have been shopping around for an extended warranty for my car and came across WarrantyWizard.com. Not only are they the cheapest that I have seen, but they give you 2 free round-trip airline tickets (not sure of the catches other than restricted hotels) AND if you do not have a claim, you get your money back at the end of the warranty! They also have no deductible while others have $50-$100.

It sounds WAY too good to be true, but so far everything that I am checking checks out... their parent company (Platinum Warranty Corp.) is a BBBOnline member and they have a good WebAssure report, it is listed on D&B, and the whois information matches between the two sites (www.warrantywizard.com and www.platinumwarrantycorp.com). A Google search reveals lots of affiliates and positive comments.

Sorry if any of this sounds like a commercial, but I wanted to get everything I have done to research this in the post.

I guess I am looking for the "deal detectives" here to see if they see any reason not to trust this, or if anyone has direct experience with them or knows of anything better...

Warranty Wizard

 

[cisco]

thanks for the post , my 3 year 36,000 miles is at the end and I wanted a zero deductable warranty . checking it out now!

 

[insite]

Let me know if you find anything.

BTW, I did find a site that ranks warranties and this was 3rd rated with 4.5 stars...

Auto Warranty Reviews

 

[dvdapex]

No Ford Ranger listing???

 

[insite]

<< No Ford Ranger listing??? >>



That is odd- I just sold my Ranger, so I did not look at that

 

[stockjock]

I think this is a very good deal...I just bought a used 99 Passat and I think these guys blow away the deal I have with Carmax.

 

[J9JM3]

This is good info. I too am shopping for a extended warranty. Please post any good information you come across.

Buying at a dealership is a ripoff. dealers just resell this at like 100% mark up.

 

[VectorSigma]

Awesome post! Too bad they don't service California

 

[Allen7]

Why don't they service California??? That sucks :|

 

[CreveCoeur]

This does seem like a hot deal... almost to hot. They are half the cost and have no deductable and offer coverage for 2 more years than the dealer's warranty offered for my 99 Chrysler LHS.

Does anyone have any experience with this company?

Is their coverage comparable?

Any more information about this company would be appreciated.

 

[walrus]

They gave me a quote and I live in California

 

[Havoc13]

Seems to be pretty Hot...

Smoking prices...

There are listings for Rangers...

 

[Epinephrine]

Try Here

Carbuyingtips.com

Lots of tools here and he has a good explanation of what to look for in extended warranties

Thanks for the tip!!

 

[roamerr]

Seemed like good deal to me but does not include failure due to gaskets or seals. This worries me since I have seen two cars in my family (over last ten years) blow head gaskets. One just smoked; the other did major damage.

The warrnty also does not cover ABS module.

I tried to get the warranty but with gasket coverage but is was not available.

 

[HKS]

Unfortunate, because replacing a head gasket is a pain in the arse... you gotta pull the head, buy the 5 dollar gasket, and put the head back on... The gasket itself is pretty cheap, but the labor... ouch!


On second thought, after looking at the site, I saw:

Seals and gaskets: Intake manifold, valve covers, heads, oil pan, timing cover, front and rear main and cam shaft.

It says, heads, that should mean head gasket, right? So I think you are covered.

 

[thholr]

funny in my case it actually costs more than what I bought at the acura dealer. Strange. Plus acura has a money back guarantee and I dont have to worry about sending in stuff and things like that.

I would look at all dealers in your area, the pricing difference for me between the 3 acura dealers in my area was anywhere from 200 to 600 $ for the same coverage. And I ended up getting a 7yr 100K mile warranty for $1100 . Just show them a quote from another dealer and they will beat it . They have so much room to move since there is so much markup.

 

[cisco]

Well I bought the warranty from them "warranty wizard" is a sales site for "Platinum Warranty Corp" the scary thing is state to state regulations and laws are different. A warranty isn't insurance so the insurance laws don't apply = they don't have to be licensed in your state
I shelled out $800 for a 7year 100'000 mile plan. I great price unless they simply close up shop in two or three years. it seems some of these warranty companies have an office and a corperate credit card, they pay repairs with it when approved (I was told gaskets are covered too ). my concern is nothing is preventing them from simply closing up. they can rake in millions (probably have already)
and then decide to take the money and run..
well I hope my Honda never breaks...

Anyone who knows state to state warranty laws please post info here
especially CA & FL

 

[roamerr]

I specifically saw that failure of seals are not covered. They do pay to replace seals and gaskets if other parts failed. I had several discussions with Warranty Wizard on this issue. My concern is not the $5 gasket and it's replacement. My concern is that when a head gasket fails the cylinders fill with coolant; this has the potential for big $ damage if it occurs on the compression stoke.

Exact statement from Warranty Wizard --
"Hello,
Seals and Gaskets are covered at no extra cost if damage is caused by a covered engine component. ABS is covered, we do not cover the ABS module though. I attached the contract for you to look over. If you would like to purchase or have additional questions call 1-866-843-9499 5pm-midnight eastern Mon-Fri ask for Brad."

The contract is very clear on this issue. For that reason I did not consider it worth the $1000 foir the Platinum coverage for my Escape.

 

[Smoot]

cisco,

If you have a Honda, you'd be better off with a HondaCare warranty. Go to OdyClub.com, the online site for Honda Odyssey owners, click on forums, and go to the warranty forums. Some of the extended warranties that cover wear and tear seem good, but many times, they will nickel and dime you to death and will not pay the full labor rates of some dealerships. I just bought a 7 yr/100,000 mile $0 deductible Hondacare warranty on our 2002 Odyssey (for around $875), and that's after looking at Warranty Gold, Warranty Direct, and several of the other big-named third-party warranties. Some of these companies will cease to exist in the next few years (that's why I'd be cautious of "Warranty Wizard"), and unless they give you no grief on the repairs being performed and can pay ythe repair facility with a company credit card, I wouldn't even look at them.

 

[armando416]

I have been shopping around for an extended warranty for my car and came across WarrantyWizard.com. Not only are they the cheapest that I have seen, but they give you 2 free round-trip airline tickets (not sure of the catches other than restricted hotels) AND if you do not have a claim, you get your money back at the end of the warranty! They also have no deductible while others have $50-$100.


Can someone please explain to an idiot like myself how they can do this? I thought the whole point of a warranty/insurance is that the company uses the money from people who never make a claim to help pay for the people who do, because their claims are usually higher than what they've paid for the insurance. If they give your money back for no claims...then how the heck do they make their money?!

 

[Emulex]

uhh dude. Insurnance companies LEND you money out (invest) to others at high interests rates.

$*000.00, 6 years , 15% (credit card f.i.) = nice chunk o change.

 

[jjm]

Emulex - They can't afford to lend it at the riskiest rates (10% or higher). The losses are too great. They probably make, on average and after write-offs, less than 5%.

 

[CreveCoeur]

Well now I am concerned that anytime in the next 4 years they can just go out of business and we are all out of luck on our warranty. Is there no agency that regulates these type of company's?

I also did not feel to confident about the disclaimer at the bottom of they're site," the content within this site is an advertisement only. It is not a contract and is subject to change as instructed by our administartor or insurer."

 

[Techie333]

Yhea....whats up with that disclaimer on the bottom of the site about this being an advertisement only

 

[cape123]

Couldn't one just put this purchase on their credit card and dispute the charge later if the company folds (for the remainder of the policy)?