I have been offered an extended warrenty on my Element from Geico, they claim it's only 16 dollars every 6 months. They said it's only offered on new cars and must purchased within the first 11,000 Miles. Anyone do this? Anyone else hear of it?
I have Geico too, and I've heard of it... but I'd be concerned about the coverage. Is it an extension of the factory warranty? (prob. not.) Can you get warranty service at any honda dealership, or only at certain shops? What items are covered? Check into that all first before you sign up.
I have spoken to Geico about this insurance and it seems to be a pretty good deal in comparison to the Honda extended warranty. It is an "all-risk" policy, meaning that unless it is specifically mentioned as an exclusion, it is covered. When I asked about the exclusions, I was told they were things like brake pads, tires, filters, coolant etc. The Honda warranty works in just the reverse, unless it is mentioned, it is not covered.
I live in Connecticut and was quoted a price of $44 for 6 months. I mentioned this post and the $16 pricew and they told me the price varied by state. I have a perfect driving record so it seems like a big jump in premium. Still, a lot less than the $1,200 Honda quoted me. The other great thing about it is that you have until your E is 11 months old or 11,000 miles to sign up. You have to sign up within 30 days of delivery if you go with the Honda warranty.
I think I'll probably take advantage of this unless I hear really bad things prior to my reaching the 11/11,000 point.
Actually, the HondaCare plan is a true exclusionary plan: it has a list of the items not covered. It is not, as described in the last post, limited only to those items specifically defined as covered.
Also, you have up to 2 years to buy a HondaCare warranty without penalty. In the third year there is a surcharge. If your dealer told you 30 days, he was lying.
I'd ask to see a complete contract for the Geico plan before purchasing. With a price that low (at $16), I don't see how it could offer similar coverage. At the $44 for 6 months, assuming no increases, it's $616 for 7 years. HondaCare for 7years/100K can be purchased from a dealer that posts on this forum for $900 but it also includes 7 years of Cross Country Motor Club (CCMC or AAA would be more than $350 over 7 years).
A person's driving record is not related to pricing for an extended warranty. Pricing reflects the anticipated incidence of repairs for the vehicle or similar vehicles from the same manufacturer.
I guess I stand corrected. My intent was just to provide some more information, as I understood it, and not as a knock against the Honda Care coverage.
I did pull out the brochure for the Honda Care program and the fine print says "Exclusions include but are not limited to...", it goes on to say that "Coverage for a new plan begins when the vehicle is originally put into service and at zero miles" and ends with "Actual contract coverages, limitations and exclusions may vary. See your Vehicle Service Contract for full details". So I guess I have some questions for my dealer. I have also requested a copy of the policy coverages from Geico and will be going over that with a fine-tooth comb as well.
Again, I apologize if I misspoke. The great thing about this on-line forum is that it gives us a chance to exchange information and hopefully all benefit.
Yeah, the sales brochures are really vague when it comes to coverage. I was impressed when the finance guy at my dealership had a copy of the actual contract for HondaCare when I asked for it. CarBuyingTips.com warns that most dealers wont have the information. That site also has some more information about options for extended warranties.
[quote:482b9a7de4="Staggie"]Yeah, the sales brochures are really vague when it comes to coverage. I was impressed when the finance guy at my dealership had a copy of the actual contract for HondaCare when I asked for it. CarBuyingTips.com warns that most dealers wont have the information. That site also has some more information about options for extended warranties.[/quote:482b9a7de4]
Great tip, thanks! Of course now I'm going to be up all night going through all the information posted on that site.