UK BMW Insured Warranty

[Medium Dave]

I have a 2003 3 litre auto with about 50,000 miles. I am almost at the end of my BMW Used Car warranty and have been sent a letter offering BMW Insured Warranty. The prices for the year are £427 for Comprehensive (or £39 per month), £380 for Named Component (or £35 per month) or £322 for Drive Line (or £30 per month). Is it a good idea to take the insurance out? I'm guessing that Z4 repairs are expensive (not had to pay yet as all repairs have been covered under warranty) so it's a bit of a gamble. Save £39 per month but get risk getting saddled with the a huge repair bill or pay the £39 per month and risk never claiming. I guess that's insurance!

So what do you all think - should I insure or not?

 

[mmm-five]

The other option would be to save the £40 a month somewhere and use that for any bills - however, one big bill could be more than £500.

I'd be taking out the BMW one if it wasn't for the fact that you have to then use BMW dealers for your servicing. The extra cost here will depend on how many miles your doing, but in my case (20,000 a year) that means an oil service (£100 more than at a specialist) and an inspection (£300 more than at a specialist) on top of the warranty (Z4MC = £1000 or so) or £1400/year. Still not a lot to have put away in case something big goes wrong though, so may get an aftermarket warranty and take the car to my ///M Guru in Essex (all the way from Liverpool).