Hey peps.

So it is almost one year since I got my Mini Cooper S. 12500 miles later and almost 12 months later I am thinking of getting Geico Mechanical Breakdown Insurance:

"Mechanical Breakdown Insurance Multi-Risk is a package of coverages that includes Comprehensive, Collision and Mechanical Breakdown Insurance (MBI). MBI coverage protects you from expensive auto repair bills when your car experiences a mechanical failure. MBI is usually much more affordable than the Extended Warranty offered by your car dealership and in some instances offers more protection.

Varying deductibles are available for the Comprehensive and Collision portions of the package; a $250 deductible applies to MBI.

You should add Multi-Risk protection to your policy as soon as possible after the car is purchased. GEICO Multi-Risk can only be added if the vehicle was purchased or leased from the dealer within the last 15 months, has an odometer reading of 15,000 miles or less, and you are the first title holder.

Multi-Risk coverage expires once the vehicle is 7 years old or reaches 100,000 miles, whichever comes first."


As You can see I still have little bit time to sign for it.. 15 months/15K miles. When I checked how much would it cost me for every 6 months... it was only $38.40 / 6 months.

Well, this wont do any good for me now.. It will be useful after my original warranty runs out (4yrs/50K miles).. so for the first 3 yrs I will be paying $230 just to have it for later.. I understand that every time something breaks and I take my car to dealer, it will cost me $250 deductible, but it seems not as bad.. if for example I have transmission, turbo, engine problems.. Any thoughts?

 

Well I have it for Comet just in case. I am not sure what they cover. It seemed pretty good. But if the dealer says no to a repair, then I have this to fall back on. So cheap it was hard to resist.

 

yes it is cheap and from what I understand they cover any mechanical brakdown! I didnt want to get it right away and pay for it for the first year since they give You 15 months or 15K miles to sign for it.. I will sign around April/May when I have to.. for a total of about $460 I will be covered up to 7yrs or 100K miles if that comes first (most likely). And that $250 deductible doesnt seems a lot in case of something major.

 

It does sound like a good value...the Missourian in me would want to be examining fine print (e.g. mechanical breakdown: we cover if something breaks and leaves you stranded. If your water pump "wears out", is now howling like a fiend, and needs replacing, that's on you as it wasn't a "breakdown". Or similar).

Still.

I'll be researching my vendor to see if they offer similar. All such (extended protection) is just insurance after all...who better to get in the game?

 

I have requested the full details of the Mechanical Breakdown Insurance from Geico so I can read all the terms. After talking to the person on the phone I gathered that it covers things that break not normal wear and tear items which are listed. I should see the info in a few days (I wanted paper because the trees suck up all the oxygen).

So once I get it I will post details.

 

please do and Thank You for doing it!

 

any update on this?

 

No. I forgot. But I never got anything (Unless my wife tossed it). I will have to call them. Strange I didn't get it.

 

ok.. got email from Geico! Attached file explaining rules on BMI!

 

We agree with you as follows: SECTION III
PHYSICAL DAMAGE COVERAGES
Section III is amended to provide Multi-Risk Physical Damage Coverages. This includes:
1. comprehensive;
2. collision; and
3. mechanical breakdown protection
This amendment is subject to all policy conditions and definitions except as specifically modified below.
The amount of applicable deductible shown in the policy declarations shall apply to each loss under the Multi-Risk Coverage. A $50 deductible shall apply to glass breakage without any other damage to the auto, unless you carry full comprehensive coverage.
Mechanical Breakdown
We will pay for loss caused other than by collision or under the comprehensive coverage due to the mechanical breakdown of the owned auto. Losses from mechanical breakdown shall not be accumulated to reach the de- ductible.
Definitions
For the purposes of this amendment, the following spe- cial definitions apply with respect to mechanical break- down only:
3. "Loss" means all risk of physical damage to the owned auto or its equipment.
5. "Owned auto" means any vehicle described in this policy for which a specific premium charge
Family Automobile Policy Amendment
Multi-Risk Physical Damage Coverage
13. Loss due to misuse, alteration, or lack of proper maintenance is not covered. Proper maintenance
is the recommended vehicle maintenance as
outlined in the owner’s manual provided by the manufacturer.
14. Tire wear or other tire damage is not covered.
15. Normal wear and tear is not covered.
16. Routine maintenance services and parts are not cov- ered. This includes; but is not limited to:
a) engine tune up;
b) suspension alignment;
c) wheel balancing;
d) filters;
e) lubrication;
f) engine coolant;
g) fluids;
h) spark or glow plugs;
i) brake pads;
j) brake linings; and
k) brake shoes.
17. Any loss to the extent covered by warranty, recall or voluntary repair programs is not covered.
18. Any loss to a non-owned auto or to a temporary substitute auto is not covered.
19. Any loss to a newly acquired or replacement auto is not covered.
20. Any pre-existing loss or damage to any insured auto is not covered.
21. Multi-Risk coverage will terminate either when the Odometer reading exceeds 100,000 miles or when the age of the vehicle is 7 years old, whichever oc- curs earlier. The 7 year stipulation will only apply to vehicles that are 1996 model year and later.
Other Insurance
For the purposes of this amendment only, if you have other insurance against a loss covered by mechanical breakdown protection, this policy will apply as excess insurance over such other valid and collectible insur- ance.
indicates there is coverage. not mean:
"Owned auto" does
a) a newly acquired vehicle; or
b) a replacement vehicle; or
c) a temporary substitute auto.
Exclusions
For the purposes of this amendment only, with respect to mechanical breakdown, exclusion 4 is deleted. The fol- lowing exclusions are added:
11. Oxidation and rust damage are not covered.
12. Damage caused intentionally by you or any other person using an owned auto with your permission is not covered.

 

Can you get this protection after the manufacturer's warranty expires?

 

No You CAN NOT!
You have to purchase it in 15000 miles or 15 months from date of purchase of Your brand new vehicle (whichever comes first).

I got quote of $38/6 months. No bad IMHO.

 

Thanks for getting it. I called and asked for the paper copy again. Still hasn't come. I should have asked for an emailed version.

My quote is about the same as yours. I think it is a good deal.

 

One thing to consider.

Make sure these claims are separate from your auto insurance claim history.

Don't want to give them some mealy mouthed excuse to send you a non renewal notice because god forbid you have a repair plus X-amount of claims on your insurance.

 

Watch out, number 15 is going to get you and give them a way out of providing you coverage.

 

Yes that is the one I wonder about. When talked to the nice GEICO person she said that referred to normal wear and tear items. Then she listed tires, brakes, fluids, wipers and so on. I then asked if while driving down the road my auto trans failed was it covered. She said as long as it was with in the 100K and 7 yrs it should be. Not would. So who knows.

 

I have the MBI offered through Golden1 Credit Union for my 07 MCS. I think I paid $1200 or so, and rolled it into the loan (added $20 a month). $250 deductible. For this coverage, I just needed to add before the factory warranty ran out. So far I've use it to replace the thermostat. No issues with them running through a local BMW/Mini mechanic (not dealer). But it's good for another 60K miles. Covers everything but wear and tear. The only big thing I'm a little worried about is the clutch. But, same mechanic said it's only a $1300 job for him... not the crazy $3K I've read about dealers charging.

IMO, the MBI is worth it.

 

One that came to mind for me is a clutch. If it goes out, is it considered wear and tear?

 

Probly not unless theres an obvious defect.
Would not take to long to burn one up with a non freindly driver.

As far as the warranty,I wonder were they draw the line for normal wear and tear?

 

Question: Mine is MCS, what I am concerning the most is turbocharge system. I heard it will be gone at 50K. Would MBI from Geico cover? Is it considered as Normal tear and wear?

 

I'm at about 65K and my turbo is fine. And pretty sure my MBI covers it if it wasn't. Clutch wear is the big one my coverage considers "wear and tear."

 

Thank you very much. I really don't get it when they talk about " Wear and Tear" Because it seems everything is used and depreciated. I would consider to upgrade MBI when my car is about 1 year.

 

Yeah, I bought mine right before the factory warranty ended. 40K.