Guy's, I was happy when I bought my policy and my first claim over $900. 00 was paid no problem (5-13-03) now on my second claim, under $150. 00 (7-3-03) no pay,quess what the insurance company holding warranty gold's money (mine and your's) in bankrupt as of (6-1-03) so I'm out of about half of my preimeum. Sorry just had to vent alittle Don
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warranty gold (BAD NEWS)
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I'm going thru the same thing. I'm with "Smart Choice 2000" evidentally under "National Waranty Insurance Company" Only they waited till I got approval to have the work done to go belly up. The work was completed by the local dealer. They went for their money and the waranty co. didn't pay. I couldn't get my truck back till I paid out of my pocket. I had a $100 deductable and about $200 parts. The total bill was over $2200. Try coughing up an extra 2 grand!!! This was back in May and I'm still trying to get my $$ back. The company is in bankruptcy court right now. Maybe someday I'll get my money back. 
warranty gold
Great, never had a chance to use it. Their website is still up and at the bottom of the openning page they claim to have enough money to pay all claims.
Great, never had a chance to use it. Their website is still up and at the bottom of the openning page they claim to have enough money to pay all claims.
If you have outstanding monies or are needing covered service keep watching the news.
Anyone from the Pacific Northwest area remember Northwest Underwriters? Well this was an extended warranty company that went bankrupt in 1988(?) after about 45 years in the business. Turned out some of the high volume auto comapanies that really pushed you to purchase the extended warranty were not paying the premium back to NU. Bankruptcy court ruling was the named auto companies that didn't pay the premiums must pay the repair bills for the life of the extended warranty
Exgirlfriend had a Toyota MX-2 she bought from Sound Ford and the supposed NU extended warranty. Sound had to foot a repair bill of around $3,000 for the trany rebuild and power doorlock repairs.
I ended up doing the spindle bearing myself as Sound wouldn't offer to pay the towing bill.
Not sure if the same will apply here, but can only hope?
I have Warranty Gold on the Mommy Van. I hope to collect on new struts that I installed (forgot they were covered).
Anyone from the Pacific Northwest area remember Northwest Underwriters? Well this was an extended warranty company that went bankrupt in 1988(?) after about 45 years in the business. Turned out some of the high volume auto comapanies that really pushed you to purchase the extended warranty were not paying the premium back to NU. Bankruptcy court ruling was the named auto companies that didn't pay the premiums must pay the repair bills for the life of the extended warranty
Exgirlfriend had a Toyota MX-2 she bought from Sound Ford and the supposed NU extended warranty. Sound had to foot a repair bill of around $3,000 for the trany rebuild and power doorlock repairs.
I ended up doing the spindle bearing myself as Sound wouldn't offer to pay the towing bill.
Not sure if the same will apply here, but can only hope?
I have Warranty Gold on the Mommy Van. I hope to collect on new struts that I installed (forgot they were covered).
May I suggest we stick together on this and keep each other informed to any news or updates?? You can read their press releases on their web site at: http://www.nwig.com/
They posted a release last Mon. but not anything highly significant. If YOU hear or see anything please let us know in this thread. Thanks, Tim
They posted a release last Mon. but not anything highly significant. If YOU hear or see anything please let us know in this thread. Thanks, Tim
Here is a web site that rates various companies that agree to abide by their standards, a "Better Business Bureau" TYPE thing. They WERE recommending Warranty Gold up until just this week, but they have now got about 20 pending/unresolved complaints with more coming. I was lucky enough to have charged my warranty on a credit card, mostly just in case of this very thing, and I am now in the process of getting the charges reversed and credited to my account. I thought I had finally found a reputable(?) warranty and I am bummed about the whole idea. It looks like most people will never see a dime, yet Warranty Gold will sell you a new contract today!
Warranty Gold, Ltd.
Member Through:
June 13, 2004
Warranty Gold, Ltd. is on the Watchlist!
Check them out here
http://www.webassured.com/c/Business_Background_Report.cfm?ID=265
--------------------------------------------------------------------------------
Resolved Complaints: 27
WebAssured has participated in the resolution of these complaints to the consumer's satisfaction. The number of resolved complaints is not necessarily an indication of the level of service. Larger companies and/or companies who have been members for a longer period of time will have a higher number of resolved complaints. Click here to AdDResSsm a complaint
--------------------------------------------------------------------------------
Unresolved Complaints: 7
--------------------------------------------------------------------------------
Pending Complaints: 14
There are current pending complaints.
--------------------------------------------------------------------------------
Warranty Gold, Ltd.
Member Through:
June 13, 2004
Warranty Gold, Ltd. is on the Watchlist!
Check them out here
http://www.webassured.com/c/Business_Background_Report.cfm?ID=265
--------------------------------------------------------------------------------
Resolved Complaints: 27
WebAssured has participated in the resolution of these complaints to the consumer's satisfaction. The number of resolved complaints is not necessarily an indication of the level of service. Larger companies and/or companies who have been members for a longer period of time will have a higher number of resolved complaints. Click here to AdDResSsm a complaint
--------------------------------------------------------------------------------
Unresolved Complaints: 7
--------------------------------------------------------------------------------
Pending Complaints: 14
There are current pending complaints.
--------------------------------------------------------------------------------
Last edited by a moderator:
I purchased mine 5 days before NWIC went belly up. I have contacted my credit card company who is going to bat for me. They also have frozen the amount that I owe. As far as the credit from WG goes- I would have gotten about 75% of my money back (about 14 days after WG's two month grace period was over) but, the customer reps at WG said that any credit after canceling would come at the end of the court's settlement. So one would have to wait any how. All this has left me with a bad taste about after market warantee coverage. All I can do is hope that it all works out in the end. It does amaze me that WG is still writing policies with a different company. Warrantee Gold is still in "business" and my contract has "Warantee Gold" on the cover but it might only be good for wiping my a$$.
Good News!
I just found out from my credit card company (with whom I paid/ bought) that I have been credited for the FULL amount that I paid to get a WG contract. I am not sure how it was done, but it was some type of escrow account that MasterCard has set up.
Any one here who has a dispute with Warranty Gold and has paid for it using a credit card, I would suggest looking into it further. I am very pleased with the customer service with my CC in this matter.
I just found out from my credit card company (with whom I paid/ bought) that I have been credited for the FULL amount that I paid to get a WG contract. I am not sure how it was done, but it was some type of escrow account that MasterCard has set up.
Any one here who has a dispute with Warranty Gold and has paid for it using a credit card, I would suggest looking into it further. I am very pleased with the customer service with my CC in this matter.
I am sure if any of you have a WG policy then you recieved this note, but I'll post it any way for those concerned. It is an e-mail I got last week:
**********************************
We are contacting you today regarding an
unfortunate situation that affects a portion of
Warranty Gold's customers.
National Warranty Insurance Risk Retention Group,
the administrator and insurer of your Warranty
Gold extended service contract, was recently
declared insolvent. National Warranty is
responsible for paying claims from monies
deposited by Warranty Gold on behalf of our
customers, and if those funds prove insufficient,
to pay all additional claims from the insurance
paid for by Warranty Gold. As you may already
know, a court has frozen National Warranty's
assets for liquidation, and this has resulted
in a delay of payment for repairs performed
under Warranty Gold service contracts purchased
prior to June 6, 2003.
This may not be the first you've heard about this
issue. If that is the case, please allow us to
apologize - you should have heard the news from
Warranty Gold first. For the past several weeks,
we have been focused on exploring all available
options, legal and otherwise, for sustaining the
value in your service contract and honoring
Warranty Gold's commitment to you.
Warranty Gold has a long history of faithfully
serving our customers, and that commitment will
not waiver as we seek to resolve this situation.
Please know that we are working for you. We are
determined to get the maximum contract value for
each contract, for each of our contract holders.
At Warranty Gold, we know our business is about
keeping promises. And we are making three
promises to you today:
(1) Warranty Gold will make you aware of your
options, so you can make the best decision
possible for how you wish to handle your
relationship with our company.
(2) Warranty Gold will communicate with you
regularly so you are informed about the
situation affecting your extended service
contract with our company. In fact, we
have launched http://www.WarrantyNews.com
as a resource to keep you up-to-date and
to provide you options as our customer.
We encourage you to check the site regularly
as we will post new information there first.
(3) We are determined to recover National
Warranty funds we have already dedicated to
paying claims for our customers.
However, this is a complex issue and you should
know the reasons why:
* Two different courts have jurisdiction over
this case.
* One of the courts has frozen accounts
National Warranty holds in trust for paying
Warranty Gold customer claims. These are
funds Warranty Gold has already paid National
Warranty on your behalf for paying any claims
you may have. We are working to recover these
funds.
* Gaining access to these funds will be only
the first of several steps toward being able
to pay claims.
* Claims cannot be paid until the courts rule
on the liquidation of National Warranty.
It is important for you to know that Warranty
Gold remains in business. It is necessary for us
to stay in business in order to work for you and
be able to honor any repair claims that must be
resolved. We also remain in business to stand
behind our reputation and to provide the level
of service Warranty Gold is known for, today and
for years to come.
No doubt you are wondering how Warranty Gold
found itself in this situation. We can assure you
we conducted extensive research in our decision
to work with National Warranty Insurance Group to
receive and disburse funds, and to insure and
administer our customers' extended service
agreements. Nevertheless, circumstances beyond
our control have made National Warranty unable
to fulfill its commitment to Warranty Gold, our
customers, and the customers of companies like
ours across the country.
In fact, Warranty Gold and our customers are not
alone. National Warranty's insolvency has
impacted approximately one million extended
service contract customers, numerous companies
offering services similar to Warranty Gold, and
countless auto dealers nationwide.
Because of this situation, Warranty Gold is now
doing business with a new administrator and
insurer that pays claims from monies paid by
Warranty Gold on behalf of our customers who
purchased their extended service contracts after
June 6. That's why we can remain in business,
working for our customers as National Warranty
goes through liquidation. And that's why Warranty
Gold customers who purchased their extended
service contracts from us after June 6 are not
affected by this situation.
We understand that you chose Warranty Gold to do
business with, and you may or may not have known
about National Warranty's obligation to
administer and pay claims under the terms of your
contract. We take our responsibility to you as
our customer very seriously. That's why we are
doing everything possible to secure the funds
for paying customer claims.
This letter is the first in what will be an
ongoing communications effort to keep you
informed as this situation develops. You will
continue to receive regular updates regarding
our progress in the resolution of this issue.
In addition, Warranty Gold has established
http://www.WarrantyNews.com, a website we have
dedicated to providing the most current
information about the National Warranty
insolvency issue and information you will need to
make decisions as a Warranty Gold customer. This
website will provide the most up-to-date
information as you consider your options.
Over the coming months we will do everything in
our power to restore the value in your service
contract, and more importantly, to restore your
trust in Warranty Gold. We hope you will choose
to stay with us. We intend to honor our commitment
to you.
Thank you for your patience and your continued
support.
Sincerely,
Michael Kammerman
President and Chief Executive Officer
P. S. http://www.WarrantyNews.com is live today,
and we will continue to update it whenever we
have news or information to share with you about
the National Warranty situation and your options
as our customer.
http://www.WarrantyNews.com
Please do not reply to this email.
Visit WarrantyNews.com for more information. We
have created a Contact Us section within this
website.
**********************************
We are contacting you today regarding an
unfortunate situation that affects a portion of
Warranty Gold's customers.
National Warranty Insurance Risk Retention Group,
the administrator and insurer of your Warranty
Gold extended service contract, was recently
declared insolvent. National Warranty is
responsible for paying claims from monies
deposited by Warranty Gold on behalf of our
customers, and if those funds prove insufficient,
to pay all additional claims from the insurance
paid for by Warranty Gold. As you may already
know, a court has frozen National Warranty's
assets for liquidation, and this has resulted
in a delay of payment for repairs performed
under Warranty Gold service contracts purchased
prior to June 6, 2003.
This may not be the first you've heard about this
issue. If that is the case, please allow us to
apologize - you should have heard the news from
Warranty Gold first. For the past several weeks,
we have been focused on exploring all available
options, legal and otherwise, for sustaining the
value in your service contract and honoring
Warranty Gold's commitment to you.
Warranty Gold has a long history of faithfully
serving our customers, and that commitment will
not waiver as we seek to resolve this situation.
Please know that we are working for you. We are
determined to get the maximum contract value for
each contract, for each of our contract holders.
At Warranty Gold, we know our business is about
keeping promises. And we are making three
promises to you today:
(1) Warranty Gold will make you aware of your
options, so you can make the best decision
possible for how you wish to handle your
relationship with our company.
(2) Warranty Gold will communicate with you
regularly so you are informed about the
situation affecting your extended service
contract with our company. In fact, we
have launched http://www.WarrantyNews.com
as a resource to keep you up-to-date and
to provide you options as our customer.
We encourage you to check the site regularly
as we will post new information there first.
(3) We are determined to recover National
Warranty funds we have already dedicated to
paying claims for our customers.
However, this is a complex issue and you should
know the reasons why:
* Two different courts have jurisdiction over
this case.
* One of the courts has frozen accounts
National Warranty holds in trust for paying
Warranty Gold customer claims. These are
funds Warranty Gold has already paid National
Warranty on your behalf for paying any claims
you may have. We are working to recover these
funds.
* Gaining access to these funds will be only
the first of several steps toward being able
to pay claims.
* Claims cannot be paid until the courts rule
on the liquidation of National Warranty.
It is important for you to know that Warranty
Gold remains in business. It is necessary for us
to stay in business in order to work for you and
be able to honor any repair claims that must be
resolved. We also remain in business to stand
behind our reputation and to provide the level
of service Warranty Gold is known for, today and
for years to come.
No doubt you are wondering how Warranty Gold
found itself in this situation. We can assure you
we conducted extensive research in our decision
to work with National Warranty Insurance Group to
receive and disburse funds, and to insure and
administer our customers' extended service
agreements. Nevertheless, circumstances beyond
our control have made National Warranty unable
to fulfill its commitment to Warranty Gold, our
customers, and the customers of companies like
ours across the country.
In fact, Warranty Gold and our customers are not
alone. National Warranty's insolvency has
impacted approximately one million extended
service contract customers, numerous companies
offering services similar to Warranty Gold, and
countless auto dealers nationwide.
Because of this situation, Warranty Gold is now
doing business with a new administrator and
insurer that pays claims from monies paid by
Warranty Gold on behalf of our customers who
purchased their extended service contracts after
June 6. That's why we can remain in business,
working for our customers as National Warranty
goes through liquidation. And that's why Warranty
Gold customers who purchased their extended
service contracts from us after June 6 are not
affected by this situation.
We understand that you chose Warranty Gold to do
business with, and you may or may not have known
about National Warranty's obligation to
administer and pay claims under the terms of your
contract. We take our responsibility to you as
our customer very seriously. That's why we are
doing everything possible to secure the funds
for paying customer claims.
This letter is the first in what will be an
ongoing communications effort to keep you
informed as this situation develops. You will
continue to receive regular updates regarding
our progress in the resolution of this issue.
In addition, Warranty Gold has established
http://www.WarrantyNews.com, a website we have
dedicated to providing the most current
information about the National Warranty
insolvency issue and information you will need to
make decisions as a Warranty Gold customer. This
website will provide the most up-to-date
information as you consider your options.
Over the coming months we will do everything in
our power to restore the value in your service
contract, and more importantly, to restore your
trust in Warranty Gold. We hope you will choose
to stay with us. We intend to honor our commitment
to you.
Thank you for your patience and your continued
support.
Sincerely,
Michael Kammerman
President and Chief Executive Officer
P. S. http://www.WarrantyNews.com is live today,
and we will continue to update it whenever we
have news or information to share with you about
the National Warranty situation and your options
as our customer.
http://www.WarrantyNews.com
Please do not reply to this email.
Visit WarrantyNews.com for more information. We
have created a Contact Us section within this
website.
Yep. Me too. But I don't think all is lost. It wasn't WG that went under, it was the administrator and insurer of WG, National Warranty Insurance Risk Retention Group. They're still on the hook. Of course, it would be nice to get them both, but WG went under anyway.
I was paying for my policy over a period of months when it became apparent that there was a problem with NWIRRG. My "rep" at WG suggested I stop making payments since it was unlikely I'd ever get reimbursed for any claims. So that's what I did. Then a few month ago I got a legal mumbo jumbo letter that sounded like it was saying that unless I finished paying for the policy, I wouldn't get ANYTHING back when all debts were finally settled. Yeah, right. Like I'm going to pay that last 2 or 3 hundred dollars just to make sure I MIGHT get... what... 10 cents on the dollar back based on what I paid for the policy?! Nice try. I'd like to do a burn out on those lawyer's shoes with their feet still in 'em!
-Jay
I was paying for my policy over a period of months when it became apparent that there was a problem with NWIRRG. My "rep" at WG suggested I stop making payments since it was unlikely I'd ever get reimbursed for any claims. So that's what I did. Then a few month ago I got a legal mumbo jumbo letter that sounded like it was saying that unless I finished paying for the policy, I wouldn't get ANYTHING back when all debts were finally settled. Yeah, right. Like I'm going to pay that last 2 or 3 hundred dollars just to make sure I MIGHT get... what... 10 cents on the dollar back based on what I paid for the policy?! Nice try. I'd like to do a burn out on those lawyer's shoes with their feet still in 'em!
-Jay
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Issue 128 – Digital Version
Digital Magazines
FREE!
TDR Test Drive - Digital Edition
Renew
Subscribe
Gift Subscriptions
Back Issues
Subscription Status
Address Change Form
Buyer's Guides
Ram Diagnostic Trouble Codes
The Perfect Collection
The Perfect Collection Vol. II
TSB Updates
Dodge/Cummins Historical Overview
Cameron Collection
What Makes Us Tick?
Product Showcase
Advertising
