Extended Warranty

[coolhand416]

I paid $6,500 Canadian for 7years/120km on a 2016 X5M with 60km for BMW extended warranty. So i get about 3.5 years and 60km of full coverage.

I did the aftermarket warranty on a Cayenne previously and it was a f*cking nightmare. They argued every penny. Took 2 weeks to convince them that a prop shaft and drive shaft were the same thing... then ended up paying but only after 12-15 phone calls and escalating to their VP.

[quick]

Originally Posted by Dinan-M

The administration service I had was Royal Administration Service.

As replied in your other post, do not make any claim as you could get more money back that way.
The policy I canceled with carchex also had RAS as an administrator and the reviews for RAS or the American Auto Shield both are very poor to say the least.
I personally never believed where Carchex re-assures the consumer how they would intervene and get the claim taken care off yada yada.

Also think about it for a second, out of $5500 premium, what would be the Carchex cut out of it and what would be left for the administrator?

I'd say Carchex keeps at least $2000 (30%) leaving the rest $3500 for the administrator and you think for that price they would/could cover an X5M for 5/100,000 mileage?

If it's too good to be true, it probably is.

[TX X5M]

Originally Posted by Dinan-M

The administration service I had was Royal Administration Service. I have decided to just put the amount I would’ve paid CarChex in account each month draw interest and if I have an issue use those funds, if no issues and I trade in on new X5M. I will have that cash to do what I want. Like you said with $5k protection plan most vendors will nickel and dime you on cost. Then you will be like I was fighting for pennies on dollar for what you paid.

Damn...Royal Administration is who they are setting my plan up with as well. When you cancelled, did they refund you for the unused portion of the policy? This doesn't sound good, but neither does the BMW warranty with fewer years, fewer miles, and much more expensive.

[SNAGuy]

Originally Posted by TX X5M

Damn...Royal Administration is who they are setting my plan up with as well. When you cancelled, did they refund you for the unused portion of the policy? This doesn't sound good, but neither does the BMW warranty with fewer years, fewer miles, and much more expensive.

Besides say Carchex (the agent) and the administrator (Royal); who is the underwriter for the policy?

The underwriter could be setting the rules for Royal to follow ... and Royal could be the administrator for many different underwriters that have different terms and conditions language in the contacts.

[strikingdeep]

Originally Posted by strikingdeep View Post
New owner here, 2013 BMW X5m 65k miles. Reviving this thread for more information.

Fidelity quoted me $8,387 just for the Power Care plan.

Route 66 will not cover the X5m

Autpom will not cover the X5m

Various dealerships in the Northern VA area that carry Red Shield will not warranty a vehicle that was not sold from their dealership.

Took me a couple weeks of searching to narrow down some companies. CarChex was extremely pushy with me as far as getting the warranty, not disclosing the fact that they were a broker and i was actually getting the warranty through Royal Administration Services. Quoted 4800 for 3yr/30k miles. Royal Administration Services has a terrible score on BBB. Turns out Red Shield has changed their name to Veritas. AutoNation is selling the Veritas Premier Exclusionary warranty for 5100 2yr/24k miles.

Above is all of the information i gathered from searching for my warranty. A few members here know whats up, its a pain in the ***. My 13 X5M had the motor replaced in Nov 2017, sitting on 9k right now and 66k on the drivetrain. I may just be over thinking with the warranty but would hate for something to happen. Plus the after market parts would void warranty anyways. If you like the number on the Veritas warranty just shoot me an email, amancsingh1@gmial.com, i can forward the persons number that i worked with to draw up the warranty contract.

[Dinan-M]

Originally Posted by TX X5M

Damn...Royal Administration is who they are setting my plan up with as well. When you cancelled, did they refund you for the unused portion of the policy? This doesn't sound good, but neither does the BMW warranty with fewer years, fewer miles, and much more expensive.

Just lost the 4 months I paid my $265.00 and I spent over $450 in BMW shop/labor fees. I just chalked it up as lesson learn...Too Good to Be True! This is why 90% of aftermarket insurance companies will not insure our M Cars, and if they do it will cost around $8-10K for true piece of mind.

[SNAGuy]

Originally Posted by Dinan-M

Just lost the 4 months I paid my $265.00 and I spent over $450 in BMW shop/labor fees. I just chalked it up as lesson learn...Too Good to Be True! This is why 90% of aftermarket insurance companies will not insure our M Cars, and if they do it will cost around $8-10K for true piece of mind.

Who was your policy's underwriter... while the administrator (in your case Royal) it's the underwriter's policy and language that dictates the way any administrator would pay out.

[SNAGuy]

This recently occurred with on my '15 X5M and is going to be a nearly $6k repair:

UPON INSPECTION TECHNICIAN FOUND: BOTH REAR AIRBAG STRUTS LEAKING (PIC PROVIDED) ALONG WITH BOTH STRUTS LEAKING OIL, RECC REPLACEMENT OF REAR AIR STRUTS ( BAGS) AND SHOCK ABSORBERS ALONG WITH ALIGNMENT, PROGRAMMING OF NEW STRUTS AND ADJUSTMENT OF WHEEL ACCELERATION SENSOR ADJUSTMENT

Because my vehicle was hitting the "magic" number at the end of December 2018 I researched and got an extended warranty through autopom! for 4 years 60k additional miles bringing me to 107,996 miles or 01/28/2023. The cost for this was just over $4,700.

My Mechanical Breakdown policy is underwritten by Security National Insurance Company with the program administrator being Royal Administrative Services.

I brought my X5M in to my SA on a Monday afternoon without an appointment but told to come in then so he can have a loaner available for me, a brand no X5 40i sport. After a few days they finally had the time to diagnose the issue and communicated with Royal. As expected Royal needed to send an inspector out to check the parts etc which did take a few days.

Got the approval from Royal for the repairs but not for OEM parts (kind of expected that being the language in the policy is parts of like kind and quality - we can all argue is aftermarket as good as OEM or not, for me I want to have the repair done at my dealership so I will have to eat some of that cost) as well as few minor other items.

All in all I believe the warranty will be covering around $4,500 and my SA will work with me on the pricing of everything else.

So .... With this 1 claim my policy has almost already covered my total cost and I still have 3 years remaining.

Just wanted to give a positive experience I had with particular administrator. A lot of what I've read in the negative reviews of most of these policies is that owners have the repairs done first before getting the approval. If you read the contract it clearly states that you need prior authorization first and if you don't get the prior authorization they can deny your claim.

They want to see the damaged/broken down part(s) before it's worked on not after, and I don't blame them for that. It surely slows down the process but probably there to deter fraud.

[tastelid]

A warranty claim where they refuse OEM parts would not rate highly positive for me, but better than outright rejecting everything!

[SNAGuy]

Originally Posted by tastelid

A warranty claim where they refuse OEM parts would not rate highly positive for me, but better than outright rejecting everything!

1) I knew going in that the coverage might not cover OEM parts. If I wanted to be assured OEM parts I would have gone with the BMW Platinum coverage that was close to 3x the cost.

2) My SA is working up a discount for me on what I will owe but don't know exactly what that is yet.

3) This post was more giving my experience with Royal which has been given a "bad rap" on this board. Now were those customers fault for not getting prior authorization before repairs, reading what was actually covered, or not so stellar unerwritters.