Quote:
Originally Posted by robertg
Just added MBI to my policy. It costs me an $9.33 or $112 a year. The only thing is that you have to buy the policy the first year of ownership or 15k miles. So in essence you have double coverage with the factory warranty and GEICO. Gift and curse I suppose but cheaper than the 4k -6k cost estimate at 49,999 miles.
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So Geico forces you to pay for the MBI insurance for the first 4 years/50K miles when Geico KNOWS you will be making ZERO claims because BMW NA warranty covers everything (they have a disclaimer that they wont cover anything if factory warranty is in force) !?!
What happens to the rates in years 5-7 when you are actually in a position to make a claim (Geico terminates coverage after 7 years/100K miles)?
The real question is:
who accepts Geico MBI insurance?
Ask your local dealers and independents if they will work with Geico MBI process, else it's worthless!
The red flag to me on Geico's web site is: "GEICO's experts talks to the mechanic to determine that the repair is actually needed". So who knows what they will decide is, or is not, needed!
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P.S.: This reads like less of an insurance product, and more of a calculated gamble that the customer will sell/crash the car before their factory warranty runs out...