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Discussion Starter #1
I've read the thread on extended warranties, but wondering what the general consensus is regarding needing one. I know that component failure is expensive on these scoots if not covered by warranty, but how many experience major component failure within three years after the factory warranty has expired???
 

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Reid said:
I've read the thread on extended warranties, but wondering what the general consensus is regarding needing one. I know that component failure is expensive on these scoots if not covered by warranty, but how many experience major component failure within three years after the factory warranty has expired???
You've asked a very difficult question to answer, Reid. We hear about folks like Coni who have had a new engine and transmission replaced under extended warranty, but we never hear about those who have had no problems. You can try running a survey, I guess.

- Bob
 

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It's just like going to Vegas. You can think of it as betting about $700-$800 that you will or will not have an expensive failure after the warranty expires:

Here are the items Pinnacle has picked up for me:

Rear Drive: $300 if you have it repaired - $900 if you have it replaced (I had it repaired, even though I had the choice of having it replaced)
ABS Hydro Unit: $3500
Main Seal Leak: $750

So, in my case, the bet paid off.
 

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Pinnacle Info

Jeff,

Do you have the contact information for Pinnacle and do you know if they will extend a warranty if the BMW warranty has run out? I checked another company that will extend it for three years but it was $1100. My warranty just ran out last month. Also wondering if BMW dealer will honor it with the same seamless approach as the factory warranty.
 

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I've always found extended warranty questions to be interesting. If you understand that extended warranties are only insurance against mechanical breakdowns, and underwritten by insurance companies who establish coverages and costs based on actual loss ratios, you have to ask yourself the following:

Over the course of 6 years, you will pay about $350 bucks a year to insure your motorcycle against theft, collision, property damage, etc.. So you will pay out $2100 to insure the outside of your motorcycle. If you get a ticket, file a claim, etc. the insurer can raise your rate, or cancel you altogether.

The extended warranty you pay for one time, should cost about half of the insurance premium scenario above. They can't raise the rate or cancel you, no matter how many times you use it (although some limit a claim to value).

I don't plan on having a claim on my motorcycle insurance over the next 6 years, although I am aware that it could happen and therefore I continue to insure the "outside" of my bike. I believe I am more likely to have a mechanical malfunction of some sort, especially as I get closer to 100k miles, and therefore the extended warranty (insuring the inside) makes sense to me.

If I rode less than 7-8k miles a year, I would think differently, and wouldn't buy one. Either way you take a risk. Who was it said "there's as much risk in doing nothing as in doing something"? Hope this helps you decide which way to go.

As a sidebar, thanks for your service to our great country, and God bless!
 

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Absolutely,

If you spend between 700 - 1000 on an extended warranty while your bike is still in warranty, and it covers three years, there is a good chance that you will have some form of repair that will cost that or way more. If not, I figure 200-300 a year is worth the piece of mind....
 

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Discussion Starter #7
Tallyho said:
Jeff,

Do you have the contact information for Pinnacle and do you know if they will extend a warranty if the BMW warranty has run out? I checked another company that will extend it for three years but it was $1100. My warranty just ran out last month. Also wondering if BMW dealer will honor it with the same seamless approach as the factory warranty.
I have some info on Pinnacle, but it doesn't mention whether they'll write a policy on vehicles that are out of warranty. Additionally, I believe they only sell their plans through dealers. Pinnacle's number is 888-999-6860...you could call them and ask. Pinnacle wants $840 for an additional 3 years; they also want an additional $75 for vehicles that are six months or more into the manufacturer's warranty (this is negotiable). ABS coverage is additional $120.
 

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See what I mean, Reid? Several responses along the lines of "I had this widget replaced under extended warranty." Not one response saying they have an extended warranty but have not had to use it.

Well ... I have an extended warranty from Pinnacle and have not had to use it. And if I go for the next 2 years and 11 months of my extended warranty and don't have to use it, I'll be delighted. Pinnace wouldn't be selling the policy if they weren't making money on it, so they're paying out less $$$ than they take in. That's a price I'm willing to pay for my peace of mind; what's yours ???
- Bob
 

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Reid said:
I've read the thread on extended warranties, but wondering what the general consensus is regarding needing one. I know that component failure is expensive on these scoots if not covered by warranty, but how many experience major component failure within three years after the factory warranty has expired???
For a bike with so many expensive parts and labor, O yeah. My ABS pump, fork seals, and would have been my rear main seal if I still had her. Well worth it to me. Pinnacle covers seal and gaskets if the warranty is purchased with a new bike only.
 

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Extended Warranty

Several points of the discussion are worth considering. First, looking at the extended warranty cost from an annual cost perspective versus the average number of actual miles ridden. Second, the "peace of mind" factor. Third, the insurance gamble itself. If my extended warranty is $1100, I am gambling that I will have at least that amount of warranty work to break even. Not a hard threshold to reach with our beloved Bavarians. Of course, none of this takes into consideration that the insurance company has your previously liquid funds for the duration of the contract. Can I afford it? Can I afford not to have it? Both legitimate questions. Also consider the warranty is not a panacea where everything will be covered no matter what happens or how it happens and presumes a dealer will do the work. Could I replace something myself, like a final drive for less than $1000? So, in the end, like tires, oil, riding suits, and LT vs GL, it comes down to the preference(freedom) of the individual to decide what works best for them. :thumb:
 

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Extended Warranty

I have had my extended warranty since I bought my 00 LT. I had to use it one time for a switch assembly replacement. The warranty company came out ahead on this policy so far, it runs out in Jan. I am currently looking for a replacement policy for when this one runs out. The best i have found so far is from Cycle warranty.com and their pricing was very good also. I will not go without an extended warranty on the bike just for peace of mind.

Jim
 

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Alot of things to consider here,,, DO you put alot of miles on your bike every year? Some people trade bikes every three or four years so an extended warranty would do them no good,,, Just some food for thought......Regards Pete
 

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For a bike like the K1200lt which is a very nice bike but with poor parts suppliers for parts that will break and cost you a lot of money there is only one way to ride a k1200lt and that is with a extended warranty. They have parts that are causing more problems in 2005 than in 2001
 

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Discussion Starter #14
bob_menton said:
See what I mean, Reid? Several responses along the lines of "I had this widget replaced under extended warranty." Not one response saying they have an extended warranty but have not had to use it.

Well ... I have an extended warranty from Pinnacle and have not had to use it. And if I go for the next 2 years and 11 months of my extended warranty and don't have to use it, I'll be delighted. Pinnace wouldn't be selling the policy if they weren't making money on it, so they're paying out less $$$ than they take in. That's a price I'm willing to pay for my peace of mind; what's yours ???
- Bob
Yes, I see what you mean so far, Bob. Your idea of a survey is a good one, but not sure if those who have bought an extended warranty and never had to use it are as willing to comment as those who bought one and needed to use it. My theory is if you buy one you'll probably not need it, but if you don't you'll wish to hell you had!!! It's like insurance, and I believe it's a good choice.
 

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bob_menton said:
And if I go for the next 2 years and 11 months of my extended warranty and don't have to use it, I'll be delighted. Pinnace wouldn't be selling the policy if they weren't making money on it, so they're paying out less $$$ than they take in. That's a price I'm willing to pay for my peace of mind; what's yours ???
- Bob
Bob,

That was my exact thinking when I went with a Pinnacle extended warranty. I would have been very happy paying $$$ for the peace of mind. It just so happens that I actually ended up using it.
 

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Extended warranties are just insurance. Just like your regular insurance it only helps when something happens. When something goes wrong and you don't have it will you be kicking yourself? If not then don't get it. One thing to consider is that they aren't from BMW so they will likely not cover as much but then they are all different so check them out well before buying.
 
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