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News Article : Extended warranty rip-off
Category: Short-Term Insurance : Motor Vehicle
Author:Ben Fraser
Email:[email protected]
Posted:21 May 2007

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Take out the warranty or we won't finance you!

The REAL rip-off about these policies is that they provide useless cover.

Forget about weighing the cost of the policy. You run into serious limitations on what is actually covered.

It is like covering a Redwood tree against breakage. The branches and leaves are of course excluded and only a total snap-off of the 3-meter diameter trunk 1cm above the ground is covered ... to a limited extent.

The failures that are covered under these policies are so expensive that the minor payout is but a token gesture ... that is if your claim is not refused due to not meticulously following a discombobulated claims process and providing proof on issues for which you require a mechanical engineer.

And the finance houses? Oh, you have to take out this warranty, otherwise we simply won't finance you ...

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