I know it’s been discussed but… BMW insured warranty for 35is - yes or no?

[Nictrix]

I took a 3 year full warranty no excess with warranty direct 3 years ago for £1100 (for 3 years).
It expires 16th June (3 days) and I am in to them for nearly £8500! The car is also going in today for a new radiator and heater blower motor as well as a water pump check as it is buzzing a bit.
The rad and fan motor alone are £900 with fitting - easy DIY if you needed to but still expensive.
So I would say yes to a warranty, BMW is your only option if your car is over ten years old regardless..

How many individual repairs has your car been in the garage for and how much did each repair cost you in excesses?
This has to be factored in for anybody to know the real cost, unless there was no excess on your warranty.

Hi Nic , no excess as stated in the post sir. Have not got time to go through all invoices but a shortened list would be.
DCT sump, gasket - oil - filters around £300 ish if I remember correctly.
New idrive screen - £2500
Full set of new BMW OE index 12 injectors and coding over £2k
New rad and fan blower motor £900
Several diagnostic sessions at £100 a pop
Rocker cover gasket £200ish
Etc
That warranty is hugely more expensive to buy now, a forum member got a Gupta and suggested my car was the reason for the price rise. So, on my next claim I asked how many 35i/is z4 they covered and it was only mine so I’m to blame lol.
Warranty direct have also been bought out by BNP Paribar

Cheers. The fact you have no excess to pay makes a huge difference to what you have saved.
If you had been paying £250 for each repair it would have added up to a tidy sum.

[Pondrew]

They make money off of property and markets

And the property market has done what in the last 20 years….

I didn't write that! I'm not as knowledgeable as the poster.

[Bombardino]

They make money off of property and markets

And the property market has done what in the last 20 years….

I didn't write that! I'm not as knowledgeable as the poster.

[SonnyA85]

They make money off of property and markets

And the property market has done what in the last 20 years….

Still doesn't change the fact they make nothing on selling insurance

[Scubaregs]

Still doesn't change the fact they make nothing on selling insurance

Really?

"Key Learning Points
Insurance companies make their primary income by charging premiums to customers for insurance coverage
To make a profit, insurance companies ensure the premiums are greater than any future claims. This is known as underwriting profit
Insurance companies can also make a secondary income by investing in premiums while they are not being used to cover claims. This is known as investment income."

[SonnyA85]

Still doesn't change the fact they make nothing on selling insurance

Really?

"Key Learning Points
Insurance companies make their primary income by charging premiums to customers for insurance coverage
To make a profit, insurance companies ensure the premiums are greater than any future claims. This is known as underwriting profit
Insurance companies can also make a secondary income by investing in premiums while they are not being used to cover claims. This is known as investment income."

Yes really. I work very close with the industry. It's one of my specialties alongside the oil and gas industry. The truth is insurance companies make next to nothing from selling insurance. It's the investment side of their business that makes them big money not insurance. The insurance market is extremely competitive and therefore you actually get extremely good value for money whenever you buy insurance just that most people are ignorant to how it all actually works.

In fact recently a very well known insurance company decided to split it's investment side of the business away completely from it's insurance and into 2 separate entities because the investment side was doing so well they didn't want it being restricted by the insurance side of the business.

The fact is insurance companies make very little money from insurance itself.

[Scubaregs]

[/quote]Still doesn't change the fact they make nothing on selling insurance
[/quote]

But they do make some money from underwriting.