C
C6SEUSA
Guest
I am looking at possibly buying this coverage through Endurance since my current coverage just expired and cannot be renewed with the current company (Assurant) due to the vehicle being over 15 years old. My previous coverage was a good investment as detailed below. But here are some details about the Endurance offer:
1. Price is $7500, deductible is $100.
* Perks included are:
* $50 off oil changes (up to 3 per year)
* Brake pads and shoes (up to $140 covered)
* Battery - up to $100 towards failed battery replacement
* Cooling System Maintenance - up to $55 cooling system maintenance and lube services
* Annual services - (1) Up to forty-five ($45) dollars towards Hand-Held Computer Engine Diagnostic exam; (2) Up to twenty-five
($25) dollars towards Alignment Check, and; (3) Up to fifty-five ($55) dollars towards State Safety Inspection where required by state (limited
to one-time per year per service).
* Annual Tire Rotation: Provides up to thirty-five ($35) dollars towards Tire Rotation with air pressure check (limited to one-time per year).
* Wiper Blades: Provides up to twenty ($20) dollars towards the replacement of one (1) set of front windshield Wiper Blades when
deterioration is beyond the OEMs specified tolerance (one-time use per life of Contract).
* Three (3) Manufacturers Recommended Service Intervals: Provides: (1) Up to twenty-five ($25) dollars towards first recommended
service visit; (2) Up to forty-five ($45) dollars towards second recommended service visit, and; (3) Up to sixty-five ($65) dollars towards third
2. Coverage term is 5 years or 100000 miles
3. Endurance will not offer this coverage after 2024 because my car will then be 19 years old but if I buy the coverage now it will stay in force for the full 5 years (or 100K miles).
4. I drive about 5000 miles per year
I am wondering if $7500 is worth spending for 5 years of coverage. Clearly I know it is a gamble and I have had similar contracts on all of my vehicles which have all been worth having but still $7500 is a lot of money.
Big ticket items or items that could fail and have not yet failed:
Engine
Transmission
Air Conditioning
Brakes
Fuel System
Alternator
Window motor mechanisms
Axle
Etc.
Repairs covered on my 2005 Corvette by 4 year Assurant Contract (March 2020 to March 2024)
5/19/2021 - $3590.51 - Rearview mirror, Body Control Module, Trunk release switch, sun visor (Both replaced), oil pan gasket,
7/19/2022 - $407.07 - TCM (Transmission Control Module)
11/1/2022 - $970.79 - Window regulator for drivers side
6/29/2023 - $2363.47 - Harmonic Balancer and all related work such as alignment, Battery cable assembly
2/20/2024 - $4931.98 - Torque Tube, Front Leaf Spring Pair, Steering Rack, Steering Pumps and Hoses, Full Vehicle alignment (required after steering rack replacement and rear cradle removal for drivetrain repairs, Pressure Hose, Starter
Total -------- $12263.82
Paid for contract - $3134.42
Paid deductibles - $1250.00
Total realized profit - $7879.40 after cost of contract and the $250 deductibles
Continue reading...
1. Price is $7500, deductible is $100.
* Perks included are:
* $50 off oil changes (up to 3 per year)
* Brake pads and shoes (up to $140 covered)
* Battery - up to $100 towards failed battery replacement
* Cooling System Maintenance - up to $55 cooling system maintenance and lube services
* Annual services - (1) Up to forty-five ($45) dollars towards Hand-Held Computer Engine Diagnostic exam; (2) Up to twenty-five
($25) dollars towards Alignment Check, and; (3) Up to fifty-five ($55) dollars towards State Safety Inspection where required by state (limited
to one-time per year per service).
* Annual Tire Rotation: Provides up to thirty-five ($35) dollars towards Tire Rotation with air pressure check (limited to one-time per year).
* Wiper Blades: Provides up to twenty ($20) dollars towards the replacement of one (1) set of front windshield Wiper Blades when
deterioration is beyond the OEMs specified tolerance (one-time use per life of Contract).
* Three (3) Manufacturers Recommended Service Intervals: Provides: (1) Up to twenty-five ($25) dollars towards first recommended
service visit; (2) Up to forty-five ($45) dollars towards second recommended service visit, and; (3) Up to sixty-five ($65) dollars towards third
2. Coverage term is 5 years or 100000 miles
3. Endurance will not offer this coverage after 2024 because my car will then be 19 years old but if I buy the coverage now it will stay in force for the full 5 years (or 100K miles).
4. I drive about 5000 miles per year
I am wondering if $7500 is worth spending for 5 years of coverage. Clearly I know it is a gamble and I have had similar contracts on all of my vehicles which have all been worth having but still $7500 is a lot of money.
Big ticket items or items that could fail and have not yet failed:
Engine
Transmission
Air Conditioning
Brakes
Fuel System
Alternator
Window motor mechanisms
Axle
Etc.
Repairs covered on my 2005 Corvette by 4 year Assurant Contract (March 2020 to March 2024)
5/19/2021 - $3590.51 - Rearview mirror, Body Control Module, Trunk release switch, sun visor (Both replaced), oil pan gasket,
7/19/2022 - $407.07 - TCM (Transmission Control Module)
11/1/2022 - $970.79 - Window regulator for drivers side
6/29/2023 - $2363.47 - Harmonic Balancer and all related work such as alignment, Battery cable assembly
2/20/2024 - $4931.98 - Torque Tube, Front Leaf Spring Pair, Steering Rack, Steering Pumps and Hoses, Full Vehicle alignment (required after steering rack replacement and rear cradle removal for drivetrain repairs, Pressure Hose, Starter
Total -------- $12263.82
Paid for contract - $3134.42
Paid deductibles - $1250.00
Total realized profit - $7879.40 after cost of contract and the $250 deductibles
Continue reading...
