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Does anyone have or can recommend a reliable company for Mechanical Breakdown Insurance? Specifically, I'm considering coverage for a mechanically sound, well maintained 2006 vehicle with 133k miles. Any comments or suggestions are greatly appreciated.
I have been under the impression that MBI was only for new cars. Other wise you just need an extended warrenty and most of them will find any excuse not to pay or the repair.
I have been under the impression that MBI was only for new cars. Other wise you just need an extended warrenty and most of them will find any excuse not to pay or the repair.
The insurance company I'm with doesn't offer extended warranties on vehicles with over 100K miles.
What kind of car do you have and how much is it worth?
Wouldn't it make more sense to set aside the amount you'd be paying the insurance company in your own savings account in case your car needs repairs?
What kind of car do you have and how much is it worth?
Wouldn't it make more sense to set aside the amount you'd be paying the insurance company in your own savings account in case your car needs repairs?
jaypee: At $100/month for example it would take over three years to save, say $3,000 for a new engine. What happens in 5 months, after $500 is saved and the engine goes out? Your example makes sense, it doesn't cover the cost for a major mechanical expense until 2-3 years down the road.
jaypee: At $100/month for example it would take over three years to save, say $3,000 for a new engine. What happens in 5 months, after $500 is saved and the engine goes out? Your example makes sense, it doesn't cover the cost for a major mechanical expense until 2-3 years down the road.
What they are saying is the cost of the policy is going to be at least $1500 if not more. Where is this money coming from? If you have it, just put it aside "just in case" Every aftermarket warranty I have had, has been crap, they will use any little excuse to not pay your claim.
For the same reason why you won't find an extended warranty for cars >100kmi, you won't find anyone giving you MBI on them neither -- they are both insurance policies.
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