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My 2013 335i convertible rolls to 50K today. 5yr/50 warranty will be up so I have to decide TODAY if I should:

1. get an extended warranty from BWM for $3,240.00 for 2 years or 75K miles.

2. Get an aftermarket warrant for same time for about $2,200 or

3. Self insure by setting aside an extra 135.00 a month in case of need.

I have an extended maintenance warranty to 75K miles already that came with the car. Always been serviced by BMW Dallas, had a small oil leak yesterday which they fixed under warranty, my convertible top was sticking slightly on last service date which they fixed under warranty, besides that never issues with the car.

Concerned about convertible top problems just in general as expensive? I will be selling the car at 75k miles regardless.

What do y'all think? Is it worth the money???
 

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I'm much better now, Dave
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448 Posts
Asking a forum such a question will get you several horror-stories and several love-em stories, but neither are applicable unless you're looking to get a good reference or bad veto for an insurance supplying company.

The actual insurance policies are too subjective from one user to another for opinions of others to help you much.
Just like all other forms of insurance, it's a gamble with a stake vs a risk hoping to get a payout at partially-known odds.

Each insurance scenario will have a cost, and what it covers. You have to consider those, against your own estimation of the likelihood of a claim needing paying, and your financial ability / damage at that time, to pay.
You should include in your evaluation, costs and benefits that you choose to define for subjective aspects like: piece of mine in knowing your Extended Warranty allows you to swoop into any dealership's service garage any time it hiccups.

If you don't get the extended warranty, then as you said, you're effectively Self Insuring.

I guess the easy answer is for you to first answer the question: Do you have the financial means, AND the financial discipline to self-insure. If not, then the analysis becomes pretty simple.
If you self-insure, you have the benefit of knowing that your set-aside funds could share supporting other risks too. IE: minimize your home insurance too, as your one-pot of money can handle one catastrophe, knowing multiple catastrophic events are that much less likely.
IE: Set aside $10k to cover the medium fender-bender or the tree falling on your roof, predicting that both will be rare enough that you can replenish your funds before a second event happens.
 

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Registered
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Asking a forum such a question will get you several horror-stories and several love-em stories, but neither are applicable unless you're looking to get a good reference or bad veto for an insurance supplying company.

The actual insurance policies are too subjective from one user to another for opinions of others to help you much.
Just like all other forms of insurance, it's a gamble with a stake vs a risk hoping to get a payout at partially-known odds.

Each insurance scenario will have a cost, and what it covers. You have to consider those, against your own estimation of the likelihood of a claim needing paying, and your financial ability / damage at that time, to pay.
You should include in your evaluation, costs and benefits that you choose to define for subjective aspects like: piece of mine in knowing your Extended Warranty allows you to swoop into any dealership's service garage any time it hiccups.

If you don't get the extended warranty, then as you said, you're effectively Self Insuring.

I guess the easy answer is for you to first answer the question: Do you have the financial means, AND the financial discipline to self-insure. If not, then the analysis becomes pretty simple.
If you self-insure, you have the benefit of knowing that your set-aside funds could share supporting other risks too. IE: minimize your home insurance too, as your one-pot of money can handle one catastrophe, knowing multiple catastrophic events are that much less likely.
IE: Set aside $10k to cover the medium fender-bender or the tree falling on your roof, predicting that both will be rare enough that you can replenish your funds before a second event happens.
Not bad advice, but if an actual tree falls on the roof, you will be needing a new roof and that runs around 20k.
 

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Aleks
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1,270 Posts
Being a 2013 i wouldnt bother with the warranty. Especially if you only plan to keep the car a couple more years. Put the money aside and use it when/if needed. This is from someone with horror stories :p i still wouldnt pay that warranty. If you get some big ticket items just take it to an independent specialist.
 
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