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      07-05-2015, 10:12 PM   #1
JTmarlin
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Geico Mechanical Breakdown Insurance coverage

I have seen a few different members mention using this as their coverage in years 5-7 when the BMW warranty expires.

You must purchase the policy in year 1, and I was quoted $130yr for a 2016 M4 with a $250 deductible. This also covers the windshield replacement with a $50 deductible.

$910 for 7yrs coverage sure beats the 7yr warranty BMW offers.

My question is, has anyone used this coverage on a claim with a previous owned BMW? Obviously the M4 would still be on factory warranty, but my concern is over what things are covered? (HUD, remote access, etc etc)
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      07-06-2015, 12:27 AM   #2
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+1 I have the same coverage as well with Geico on my policy. ????
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      07-06-2015, 12:34 AM   #3
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Quote:
Originally Posted by JTmarlin View Post
I have seen a few different members mention using this as their coverage in years 5-7 when the BMW warranty expires.

You must purchase the policy in year 1, and I was quoted $130yr for a 2016 M4 with a $250 deductible. This also covers the windshield replacement with a $50 deductible.

$910 for 7yrs coverage sure beats the 7yr warranty BMW offers.

My question is, has anyone used this coverage on a claim with a previous owned BMW? Obviously the M4 would still be on factory warranty, but my concern is over what things are covered? (HUD, remote access, etc etc)
It should be noted in the contract, I would think most electronic things aren't covered. But again GEICO could be different.

I would ask for the full contract and look in the clause area.

Windshields are free with my insurance, no deductible.
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      07-06-2015, 01:19 AM   #4
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Quote:
Originally Posted by DocWeatherington
Quote:
Originally Posted by JTmarlin View Post
I have seen a few different members mention using this as their coverage in years 5-7 when the BMW warranty expires.

You must purchase the policy in year 1, and I was quoted $130yr for a 2016 M4 with a $250 deductible. This also covers the windshield replacement with a $50 deductible.

$910 for 7yrs coverage sure beats the 7yr warranty BMW offers.

My question is, has anyone used this coverage on a claim with a previous owned BMW? Obviously the M4 would still be on factory warranty, but my concern is over what things are covered? (HUD, remote access, etc etc)
It should be noted in the contract, I would think most electronic things aren't covered. But again GEICO could be different.

I would ask for the full contract and look in the clause area.

Windshields are free with my insurance, no deductible.
I dont know if you mean with geico specifically, but windshield replacement isnt free for all insurances. Many have a small deductible. I have state farm, regular deductible for my plan is $500, windshield was either $50 or $75, can't remember right now cause its been a while since i used it. It may be even more if you have the HUD since there is a special film on the windshield to display the HUD clearly which is why BMW charges $2k for it, so insurance may not replace it for the cheaper deductible.

In terms of the mechanical warranty, you may need to talk to your agent to lay out what is specifically covered since almost everything is controlled by electronics in cars now, especially these BMWs so they may use that as a loophole to get out of paying if electronics are excluded.
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      07-06-2015, 01:35 AM   #5
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Quote:
Originally Posted by DocWeatherington View Post
It should be noted in the contract, I would think most electronic things aren't covered. But again GEICO could be different.

I would ask for the full contract and look in the clause area.

Windshields are free with my insurance, no deductible.
It covers "engine, drive axle, transmission, steering, suspension, cooling system, electrical, and more".

https://www.geico.com/getaquote/auto...own-insurance/

Quote:
Originally Posted by Geico
*MBI Exclusions

Exclusions to this policy include regular maintenance services such as tune-ups, suspension alignment, wheel balancing, filters, lubrication, coolant and fluids, spark plugs, brake pads and linings, brake shoes, and tires. Also, breakdown repairs made necessary by intentional damage, corrosion, misuse, or improper maintenance are not covered. Mechanical Breakdown Insurance coverage is in excess of coverage provided by your manufacturer's warranty. Read the policy amendment for the complete terms and conditions of this coverage.
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      07-06-2015, 01:40 AM   #6
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same here, free windshield replacement with $0 deductible..
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      07-06-2015, 02:24 AM   #7
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If it isnt on the exclusion list above it is included.

I'm going with geico mbi for years 5-7. Didnt even give the bmw extended warranty a second thought.
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      07-06-2015, 03:33 AM   #8
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Quote:
Originally Posted by nicknaz View Post
I'm going with geico mbi for years 5-7. Didnt even give the bmw extended warranty a second thought.
Make sure you don't wait too long to sign up:

Quote:
Originally Posted by Geico
MBI is available for new or leased cars that are less than 15 months old and with less than 15,000 miles.
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      07-06-2015, 03:50 AM   #9
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Quote:
Originally Posted by Reid View Post
Make sure you don't wait too long to sign up:
Is there a clause in reference to parts used and repair shops?

That looks like a legit deal, too bad I don't keep my cars beyond 3yrs..
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      07-06-2015, 08:27 AM   #10
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I will call them today and speak to someone in the claims department before assuming anything. Concerns are in re; to labor rates etc. (What if they only cover $110hr and in 5 yrs and the repair shop/dealer is $140hr, things of that nature)

Also the windshield HUD cost is an issue and needs to be addressed before making a decision.
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      07-06-2015, 08:54 AM   #11
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Am I reading this correctly - are you saying that the windshield with HUD film costs $2000!? Surely that is a typo?

[QUOTE=PodDoc;18204772]

...... which is why BMW charges $2k for it, so insurance may not replace it for the cheaper deductible.

Quote:
Originally Posted by JTmarlin View Post
I

Also the windshield HUD cost is an issue and needs to be addressed before making a decision.
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      07-06-2015, 09:02 AM   #12
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Quote:
Originally Posted by ciaranob View Post
Am I reading this correctly - are you saying that the windshield with HUD film costs $2000!? Surely that is a typo?
Part Number 51317285900
Part Name GREEN WINDSHIELD
MSRP $403.36
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      07-06-2015, 09:26 AM   #13
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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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      07-06-2015, 02:11 PM   #14
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Quote:
Originally Posted by robertg View Post
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.
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!

a

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...
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      07-06-2015, 03:49 PM   #15
JTmarlin
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There is no maximum labor rate for approval, that was good to know.

The insurance premium could go up in years 5-7 and then what? that is concerning...

Lastly, the $50 deductible for windshield protection is for a glass repair shop. I'm not taking my M4 with HUD to a glass repair shop, lol. She said If taken the a BMW dealer, we must pay out of pocket and then submit the invoice for claim. That't sure no guarantee....
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      07-06-2015, 09:09 PM   #16
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[QUOTE=ciaranob]Am I reading this correctly - are you saying that the windshield with HUD film costs $2000!? Surely that is a typo?

Quote:
Originally Posted by PodDoc View Post

...... which is why BMW charges $2k for it, so insurance may not replace it for the cheaper deductible.

Quote:
Originally Posted by JTmarlin View Post
I

Also the windshield HUD cost is an issue and needs to be addressed before making a decision.
I havent checked recently, but a couple months after i got my 13 335i (around november '12) i had a crack in my glass. The quote i got from bmw was $2000 (i think with labor), not a typo. I went through insurance, was about $100 out of pocket. Hopefully prices have come down since then.
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      07-06-2015, 09:16 PM   #17
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Quote:
Originally Posted by afadeev
Quote:
Originally Posted by robertg View Post
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.
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!

a

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...
This my still be worth the piece of mind depending on how much it costs considering the exposed radiator. I havent read all the threads on the members cars here on this forum that have had to have their engines repaired/replaced due to run over small debris in the middle of the road. It seems that some insurance companies were giving them hassel in covering the damage but this geico MBI seems like a perfect solution to not worry about it. Especially since this is not a warranty covered issue.
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      07-07-2015, 03:36 PM   #18
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Wow, insane - like the other number from a previous poster!


[QUOTE=PodDoc;18210040]
Quote:
Originally Posted by ciaranob
Am I reading this correctly - are you saying that the windshield with HUD film costs $2000!? Surely that is a typo?


I havent checked recently, but a couple months after i got my 13 335i (around november '12) i had a crack in my glass. The quote i got from bmw was $2000 (i think with labor), not a typo. I went through insurance, was about $100 out of pocket. Hopefully prices have come down since then.
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      07-10-2015, 07:42 PM   #19
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Quote:
Originally Posted by Reid View Post
Make sure you don't wait too long to sign up:
Yup, already done, thanks for the heads up

Re the glass, double check if your dealer actually does it. Seems like many dealers sub out the job to safelite anyway

Go with safelite and get OEM dealer glass and you'll be good to go on that front. (that's how I did it with my Z435, and I just paid the $50 comprehensive deductible)
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      07-15-2015, 02:30 AM   #20
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All this is timely because I am shopping for a new insurance company after Amica, my insurance company for 32 years, decided they wanted to charge me $200 per month JUST for my M3. GEICO saves me a ton of money - interested in the claims experience and was looking at the MBI - the cautionary post above was very helpful.
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      07-15-2015, 09:18 AM   #21
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Quote:
Originally Posted by vonmayr View Post
All this is timely because I am shopping for a new insurance company after Amica, my insurance company for 32 years, decided they wanted to charge me $200 per month JUST for my M3. GEICO saves me a ton of money - interested in the claims experience and was looking at the MBI - the cautionary post above was very helpful.
Might want to put the money away you save because Geico may end up not fixing the car the way you would like. Have run bodyshops and still have friends who are in the business. They will take advantage of you in a heart beat. So be careful.
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      07-06-2023, 05:37 PM   #22
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I thought it was prudent to reply to this old post. I bought my f80 new in ‘18 and it now has 80k so obviously out of warranty. I just used my Geico coverage to have $3000 of repairs completed with a $250 deductive. Acceleration sensor, driver side door electronics and ambient lighting module. If you don’t drive much it probably isn’t worth it. However I drive a decent amount and it paid for itself with one repair. Even my dealer was asking me about the coverage because he never heard of it before. He was also surprised they didn’t make me pay multiple deductibles since I had 3 seperate unrelated issues. I think I got lucky with that one.
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