We had a toy run this morning starting from Kannapolis, NC and ending up at Pat Rogers HD in Concord, NC. In the middle of the ride, my rear tire took a nail and went flat. After a few turns (between 15-25 mph) I had the feeling that my back end was getting loose, so I pulled off the road and the tire was done. Pat Rogers, to his credit, had a chaser vehicle behind the ride and towed me back to his store. I presented the service department (which thankfully was open) my extended warranty/tire and wheel protection certificate. Within 1/2 hour, I had a new tire installed. Zero dollars. So, please, don't tell me that the extended warranty and the tire coverage isn't worth the cost. It saved me over $200 today. Hopefully, I will never have to use this coverage again....but, at least, I know it is there when I need it.

 

If your extended warranty cost you more than $200, it didn't "save" you anything. You simply prepaid for that tire they "gave" you.

 

True, but one job on the engine or tranny, it has paid for itself.

 

Exactly, which means you have to have bad luck to make them worthwhile. The odds are against them ever actually paying for themselves which is why they offer them for sale in the first place.

 

Isn't the same with homeowners insurance? Health insurance?

 

Yep it's an insurance policy is what it is. You are betting that you'll need to use it, and they are betting that you wont. Just another roll of the dice, if you will.

 

I still think it ain't worth it...A 200 dollar warranty for a 200 dollar repair doesn't sound like a good bet to me. That is far from the risk involved from not having homeowners or health insurance.

 

Some like extended warrantees, some don't. I put 20K/year on my bike and tend to keep them for a while. I have a 7 year unlimited mileage warranty that cost me $1840. Do you think that over the course of 140K miles I'll have $1840 in warranty repairs? I think it's a pretty safe bet I will.

Harry

 

Except the amount you paid could certainly be far exceeded by the amount they pay sometimes. Thats why we buy it. if it was a wash, few would see the need.

 

Exactly!
I have the same 7 years too (w/o tires) and will make sure I don't void my warranty because chances are good it will more then pay for itself. (I only paid about $1000 for it though.) And if I don't ever use it , it still is an added asset when I go to sell my bike to someone else because it is transferrable. That adds a few extra dollars to the resale price.