Thoughts/experience on Mechanical Breakdown Insurance

[VTBike]

Looking for experience and thoughts on the purchase of mechanical breakdown insurance through insurers like Geico or Progressive. I've never had to purchase these before because the warranty (or extended warranty) i've gotten for all my previous vehicles - Subaru, Toyota, VW - has covered absoutely everything.

My understanding however is that even on a new LR, the warranty doesn't cover some mechanical failures? I read a thread about the cv joints, as an example - but didn't find anything additional to that.

So i'm really wondering if this insurance is worth it, at roughly $300/yr. It's supposed to cover mechanical failures that the regular warranty doesn't cover. What's the need for this on a new LR4?

Thanks!

 

[PaulLR3]

It all depends on how long you plan on keeping your LR4.

We kept our LR3 for 100K miles and everything that was replaced was considered "wear & tear" items, which many warranties exclude. (Brake, tires, tie rods, control arms, front hubs) Some warranties do cover suspension parts so read the warranty fine print carefully.

But it seems that some LR3 owners have had more serious repairs between 100K and 200K miles such as differentials and transmission problems. Others make it to 200K with just replacing some suspension parts noted above.

You have 4 years and 50K miles to be sure you didn't buy a lemon. Since you bought a vehicle that has been out for 11 years, I'd be confident in taking that $300 per year and putting it away in my own account for when any issues come up.

 

[VTBike]

Thanks Paul, great points.

Add to that the $250 deductible per occurrence.

When I had my Subaru and the complete bumper to bumper extended warranty, I think I had one issue that it repaired, which fortunately made it worthwhile. But the majority of issues happened post 100k/5yrs, after the warranty was out. Then it was literally $1000 every 3 months for some stupid thing... Kept it for 2 years of that crap before I got rid of it (was stubborn).

 

[jettore]

Im going to add the Geico coverage before the 18 month from new limit kicks in. Seems like its good coverage from some online reviews. Ball joints do seem to wear earlier so Im figuring this makes sense for us on this vehicle.

 

[Quijote]

I only put 7500 miles per year so my warranty will expire with only 30k on the car. Before the car hits 40k, we will probably use it even less - under 5k miles or so, so no matter what extended warranty we get, we are likely to still be low on miles when it expires.