Reply With QuoteNot sure if they're anything like after market warranties for cars, but if they are sometimes it is a pain to get them to pay. From what I've heard after you have your boat fixed, and you pay for it, you have to go to them to reimburse you.
Has anybody had any dealings with this extened warranty service provider Warranty Experts(The Re-Insurer is American RE). I have been quoted a great rate on a 5 year plan with 100% coverage and a $50. deductible. They cover you to have your boat repaired at any shop so you don't have to wait for a authorized Mercury dealer and they are covering my new HP 500 XR Drive and ext. hyd steering.
Trying to find out if anyone has had any experience with this company good or bad.
Not sure if they're anything like after market warranties for cars, but if they are sometimes it is a pain to get them to pay. From what I've heard after you have your boat fixed, and you pay for it, you have to go to them to reimburse you.
I guess they pay the shop over the phone at the time the repairs are done or by p.o. if they have a relationship with facility
I Represent Extended Service Contracts For The Auto Industry. I Have Never Heard Of This Reinsurance Company. My Suggession Would Be To Log Onto Their Website And See What Their Rating Is. All Service Contract Companies Have Insurance Backers That Will Have Ratings From A+ As The Best Down To C-. If They Are An A- Or Above, They Have Great Financial Backing And You Shouldn't Have To Worrry About The Company Not Having Enough Reserves To Pay Claims In The Future. I Would Get The Policy And Read It Front To Back And Make Sure That All Of The Parts That You Want Covered Are Covered. Also If It Says That You Have To Get Authorization Before Any Work Is Done - Make Sure You Do That. If You Don't That Is A Perfect Way For Them To Deny And Not Pay A Claim. Good Luck!!
here is the deal on warranty companies, you start one, get people to buy it, and after 2 year go bankrupt and start another.... You go bankrupt because the CEO tok to much salary........
I would guess it is the same in the boat world as the car world.
As much as I hate to say this, trust the BIG insurance boys, they will actually pay claims, the little guys, they lack the economies of scale to pay claims..............
American Re is very big if it is the one I am thinking of, but all that really matters is what your contract says "exactly", exclusions, labor rates, duties in the event of a claim, blah blah blah.
If you bought the warranty from a reputable dealer that is also still around, I suspect that you will do fine. Just read that damn contract from front to back then back to front, so you know it like the back of your hand.
Thanks you guys for your input. So far it is looking prety good for this company. I have not found any negative information on them. They have been in business since 1985. They have a BBB indorsement which I am still checking further into. Ontop of everything else they have a special going for a free 3 or 4 day cruise and to top it off if I don't make a claim for the life of the extended warranty I get all my money back, which I don't see happening with the Mercury Racing Product that we are purchasing. Before any of Mercury reps chime in if Mercury thought that this 500hp & Xr Drive would last 6 years without any break downs they would offer the extended warranty themselves. So if anybody wants to check them out here is the website.
I Checked The Web. The Most Important Thing That Stood Out Is That They Have An Am Best Rating Of A+. This Is Very Important In The Industry Because Is Tells You That They Are Financially Sound! Also They Advertise That They Are Reinsured, Which Is Very Important Because If The Warranty Company Goes Out Of Business There Should Be An Insurance Backer To Assume All Responsibilities For Future Claims. The Only Thing I Would Suggest Again - Is Read The Policy And Try To Find Out Who The Insurance Backer Is I.e. Allstate, Great American Etc...
Well it looks like it might be to good to be true,the company at this point will not honor there original quote they completly changed the original terms, they have gone down from 5 years to 3 years and want to up the deductible. Also they were supposed to get back to me by the end of the day have not heard from anyone yet and it is after closing time on the east coast where they are located.
In all fairness they looked like a good company with good warranty benefits, But companys need to realize in this electronic age they can no longer B.S. customers with out paying the price.
So i ask myself, if i was broken down waiting for a call back with authorization for repairs would this be the company ''WARRANTY EXPERTS'' I want to do business with. NO................................................ .....................
I would be at minimum convey to them that amongst others, you will be contacting the BBB in their state and yours, the Department of Insurance and an attorney and then see what they have to say. Your written contract is what it is, and the terms and conditions, deductibles, coverage period and such are all in black and white. :eat:
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