Extended Warranty for my 2001

[EricBu12]

so I get this call today from a place that does Extention warranty... ... . National Warranty Division..... In this case, he had all my info including my VIN. All I had to do was confirm it. I just paid the down and I pay the monthly on a bill status.



This is an extended warranty for 3 yr and 40,000 mile from the time of the mileage on the truck. Mine is 71K so this will go to 111,000 or 3 years. The coverage is called the silver plan.



Now there is cost on this and with the aging trucks we have, this covers all drivetrain, power mirrors, power locks, anything under the hood and under the truck. The only thing they don't really cover is like the radio, some interior things and such..... and some wear items like the clutch, etc... .



Now here is the neat thing,..... they don't care if the truck is modified from stock like boxes and bigger turbos, etc. if it breaks, there is no deductable, you can cancel anytime.....



The total was $2343... . I put 390 down and $165/month for 12 month



You can pay it all at once or like pay half and like $250/mo... ... also. . finance free!!



http://www.nationalwarrantydivision.com/ww/default.asp



They also have a rewards program for refering people to them... . I get $50 whenever a person puts in my policy # when they sign up... I'll get my # next month... .



So for all of us that have the 53 block, if it breaks, you get a new block and such!! finally an extended warranty place that seems to work!! I suggested he put an ad on the site. . told him of the number of people here and such... .

 

[EricBu12]

heres what the silver plan covers



Engine



Engine block, cylinder head(s), cylinder barrels, timing cover, valve cover(s) and oil pan are covered only if damaged by the failure of an internal lubricated part listed below.



The following internal lubricated parts are covered: Pistons, wrist pins and rings, connecting rods and bearings, crankshaft and bearings, camshaft, lifters, followers and cam bearings, rocker arms, push rods, shafts and bushings, valves, springs, replaceable guides, seats, timing gear and chain, timing chain or belt and tensioners, oil pump, water pump, intake and exhaust manifolds, engine mounts and cushions, engine torque strut, harmonic balancer, flywheel/flex plate and ring gear, dip stick and filler tube. Also covered are the internal lubricated parts of the vehicle manufacturer installed turbocharger or supercharger. The housing is only covered by the failure of an internal lubricated part.



Transmission



Transmission case, transfer case are covered only if damaged by the failure of an internal lubricated part. All parts contained within the case including the following internal lubricated parts are covered: Torque converter, oil pump, valve body, governor, vacuum modulator, internal linkage, bearings, gear sets, bands, main shaft, drum, sealing rings, dip stick and filler tube.



Drive Axle



Differential housing, transaxle housing and final drive housing only if damaged by the failure of an internal lubricated part.



All parts contained within the housing including the following internal lubricated parts are covered: Axle shafts, gear sets, bearings, constant velocity joints (CV), universal joints, drive shaft, locking hubs and rings, supports and retainers.



Electrical



Starter and solenoid, alternator, voltage regulator, distributor, main wiring harness, manually operated switches, wiper motors, gauges, window motors, rear window defroster, mirror motors, seat motors, convertible top motor, power door lock actuators, cruise control-transducer, servo and engagement switch, combination turn signal switch, horn(s) and horn button, wiper delay switch and controller, washer pump, sun/moon roof motor and manual switch, front differential engagement switch and motor.



Steering



Gear housing is covered only if damaged by the failure of an internal lubricated part.



All parts contained within the steering rack/gear housing are covered including the following: rack and pinion, power steering pump, power cylinder, main and intermediate shafts, couplings, cooler and cooler hard lines, pitman arm, idler arm, tie rod ends.



Air Conditioning



Compressor, clutch, clutch coil, and clutch pulley,condenser, condenser, condenser fan motor, evaporator, POA valve, accumulator, orifice, temperature control programmer and power module, high/low cut off switch, pressure cycling switch, receiver-drier.



Suspension



Upper and lower control arms, control arm, shafts and bushings, upper and lower ball joints, steering knuckles, wheel bearings, stabilizer shaft, linkage and bushings, king pins and bushings, spindle and support, torsion bars, leaf springs, coil springs.



Brakes



Anti-Lock Brake System (ABS) – wheel sensors, its pump and pressure control module. Master cylinder, power assist-booster pump, vacuum assist booster, wheel cylinders, combination valve (proportioning valve), steel hydraulic lines and fittings, brake calipers and rear actuators, backing plates, springs, clips, self adjusters, parking brake linkage, and cables.



Fuel Delivery



Mechanical and electrical pump, fuel tank sending unit, fuel injection pump or diesel fuel distributor, metal fuel lines, fuel injectors, fuel injector sensors and control module.



Heating/Cooling



Thermostat, radiator and mounting brackets; fan, fan motor and blade, fan clutch, controller module and shroud; coolant recovery unit; heater core, AC/Heater blower motor.



Seals and Gasket Coverage



All seals and gaskets for the specific components listed are covered, as either individual repair or in conjunction with the repair of a covered component.



Taxes and Fluids



Also covered are state and local taxes where applicable and fluids to complete a covered repair.



The following terms are available for our Silver Coverage Plan:



*2 years/24,000 miles

*3 years/36,000 miles

*4 years/48,000 miles



For your vehicle to be eligible for our 4/48k Silver Coverage Plan, it must have less than 50,000 miles on the odometer and be less than six model years old.



*Additional years/additional miles



Additional Benefits (included for the entire life of the policy):



Additional Benefits (included for the entire life of the policy)



• Emergency Roadside Assistance 24 hours a day/365 days a year

• Towing Assistance

• Battery Assistance

• Flat Tire Assistance

• Fuel, Oil, Fluid, and Water Delivery Service

• Emergency Lock-Out Assistance-

• Rental Expenses

• Travel Expenses



*Be sure to read the policy for benefit limitations, terms, and conditions.



Please contact a National Warranty Division specialist toll-free for more information or to receive a copy of our policy at 1-866-232-0022.

 

[ceastmen]

First Assured

My Son had an extended warranty through First Assured which was a good warranty policy. He had his ball joints replaced under them and got a portion out of the $1,800 policy (10yr. 100,000 mi. ). He got a letter recently informing him the company is being liquidated and not to expect much after the liqiudation since there were 40,000 people who had policies with First Assured also!

I hope that First Assured was the exception and not the rule.

Chuck E.

 

[rbattelle]

At the risk of ruining your picnic, these aftermarket warranties are among the most despicable scams a person can get into. They constantly go bankrupt, leaving the policyholder with no warranty and a lighter wallet. Not to mention the near-criminal way you're treated if you try to make a claim.



Who is the underwriter for this National Warranty Division? Can't seem to find it on their website. You are aware you bought an insurance policy, right?



Check this out. Looks like the typical story - go bankrupt, dissolve, reappear some time later operating from another state.



Interesting article, possibly related.



More about failed warranties.



Interesting reading.



The only worthwhile extended warranty is one offered either by your auto insurer or by the company who manufactured your vehicle (NOT the dealer - the manufacturer).



-Ryan

 

[EricBu12]

2. Who reinsures the National Warranty Division program and is that insurance adequate?



All of our Extended Service Agreements are reinsured through HannoverRE, the 5th largest re-insurer in the world. Their financial stability is rated A (Excellent) by A. M. Best and AA+ (Very Strong) by Standard & Poor’s , providing our policy holders additional ‘peace of mind’.

 

[hammersley]

Tell us how good it is

when you have a claim - and then some may be interested... ... Otherwise I'm very skeptical - but hey I just turned 230,000 on my 01 - wonder what they would charge me?????? :-laf

 

[Bob4x4]

2. Who reinsures the National Warranty Division program and is that insurance adequate?



All of our Extended Service Agreements are reinsured through HannoverRE, the 5th largest re-insurer in the world. Their financial stability is rated A (Excellent) by A. M. Best and AA+ (Very Strong) by Standard & Poor’s , providing our policy holders additional ‘peace of mind’.

I doubt that they are really mod friendly. wait till you get the policy in hand,it will not say mods ok... ... ... .....



Bob

 

[EricBu12]

In that case I can ask for a full refund within 30 days... so if it is like the guy says and they don't care if you have a timing box, biggere injectors or twins... I asked the guy that and he said that doesn't matter.



Even if I want to cancel in say one year, they will pro-rate the remaning 2 years and refund that difference..... seems pretty good... .

 

[rbattelle]

2. Who reinsures the National Warranty Division program and is that insurance adequate?



All of our Extended Service Agreements are reinsured through HannoverRE, the 5th largest re-insurer in the world. Their financial stability is rated A (Excellent) by A. M. Best and AA+ (Very Strong) by Standard & Poor’s , providing our policy holders additional ‘peace of mind’.

Ah yes, Hannover. These guys tried to sell me a policy a couple weeks ago. When I told them I wasn't interested due to the high bankruptcy rate they said "well, sir, that's an ignorant statement and I don't think you know what you're talking about. You know what? I'm not going to sell you a policy, and good luck with this vehicle because you're going to need it!".



To which I laughed and replied, "You're certainly entitled to your opinion. Thank you and have a nice day". :-laf



Did you notice Hannover posted a 4th quarter net loss of $15. 2 million on 23 March?



Reorganization on 8 March.



Launched a new insurer.



Another reorg article.



They certainly are rated quite highly by S&P and AM Best, but why are they spinning off all their specialty business to a new company? And can "National Warranty Division" be relied upon to properly file and manage the insurance policies it buys on behalf of its customers?



I did a search on AM Best to see if they're telling the truth about the A+ rating. I found the following entries:



Hannover RE (Bermuda) - A, implication "Negative", and "Under Review".

[Note: a negative implication is defined by AM best as "Indicates a company is experiencing unfavorable financial/market trends, relative to its current rating level, and if continued, the company has a good possibility of having its rating downgraded. "]



Hannover Reinsurance (Dublin) Limited - A, implication "Stable" [Seems alright]



Hannover Reinsurance (Ireland) Limited - A, implication "Negative", and "Under Review"



So every Hannover RE property/casualty company was rated "A" with a negative outlook and is under review except for the Dublin company.



Then I looked up Clarendon, which is Hannover's wholly-owned specialty insurance group. All of its divisions are rated "A-" with stable outlooks. [Article about Clarendon] [S&P Downgrades Clarendon]



Looking at Praetorian, they also have an "A-" with a stable outlook. Note, however, they've only been rated since January 18, 2006.



So where, exactly, is this alleged "A+" rating by AM Best? And if it's a case of "National Warranty Division" lying about it (or telling a half-truth using old data), what else are they being untruthful about?



From what I've read in this quick search this morning, it would appear that for the most part Hannover RE is "okay" for the time being. Maybe you'll be fine with this product. I didn't find any specific National Warranty horror stories. That's definetly good news.



For others reading this, remember always that the reason companies sell these extended warranties is that they are exceptionally profitable. That should tell you something about whether it's a good deal or not. Usually, you can do better for yourself by taking the premium and putting it away in a vehicle expense account somewhere to be used in case of major repairs.



-Ryan

 

[EricBu12]

Thanks for the research Ryan.



One of the major reasons I went ahead with this is I am taking a major trip in Feb next year towing my trailer. Just nice to have that available if needed. I might decide to cancel it later on like in the year or so if I don't have any problems so I can get that pro-rated refund.



I have an extended warranty on my 5th wheel trailer that is used by alot of dealers for this same reason of piece of mind... .



I do put away alot of money in my job, I make 75k/ yr gross so 401K and other savings are going good.