[YeaG30]

Saw this thread and thought I would re-post what I wrote in the F30 forum.

My car had a drivetrain malfucntion, then fuel supply malfunction, and proceeded to die on the side of the highway (during rush hour no less). Car was towed to BMW dealership service (I have Geico Towing which is cheaper than AAA and covers the first 22 miles), filed a claim with Geico for the MBI, and the BMW Service Advisor and Geico did the rest. Geico approved the claim very quickly and covered the BMW diagnostic costs. BMW replaced the fuel pump and I paid them $250 for the deductible when it was completed. Total cost of the replacement fuel pump was close to $1k and I estimate I have payed approximately $4-500 for MBI premiums on my insurance policy (which was payed for since the initial purchase of the car).

Overall, it was a very easy process and is well worth it, as long as you plan to keep the car to 100k miles like myself.

My car is a '12 328i F30 w/ 70k miles.

[aerostar]

Yeah, I don't get why people here are so skeptical.

I'm sure if the MBI was only utilized by people that have German luxury cars it would be much, much more expensive.

However, it is being subsidized (like any other insurance) by the cheaper to repair vehicles and vehicles that don't have any issues. Like any insurance, there is the high chance that the insurance company will "win" and make money off your investment.

I think for the price, however, that MBI is definitely worth it.

[audioMeth]

i just checked online and MBI says it's $150/yr for me. weird it's only $2.5/month for you

[IK6SPEED]

Originally Posted by Poochie

It's called Mechanical Breakdown "Insurance" and it is underwritten by the 3rd largest insurance company in the US.

https://www.warrantydirect.com/MBIBasics.aspx

Just because it’s underwritten by an Insurance Company doesn’t mean it’s Insurance.

Taco Bell sells fries but that doesn’t make them a Taco.

And just because California has different consumer laws for “Extended Warranties” (regulations) than the rest of the USA does not mean California Laws prevail in the other 49 States.

[aerostar]

Originally Posted by audioMeth

i just checked online and MBI says it's $150/yr for me. weird it's only $2.5/month for you

Yeah, mine is $110 a year on my 18 m3.

[Poochie]

Originally Posted by aerostar

Yeah, mine is $110 a year on my 18 m3.

The cost is depended on your overall rate; for instance, if pay a high rate for whatever reason, the cost for MBI will be higher than if your rate was lower.. All dependent all your risk tier.

I notice also when I first gotten it the cost was $16, now 2 years later when the policy renewed the overall insurance rate did not increase but the cost of MBI did to $32 for 6 months. Leads me to believe that as the vehicle ages, so the cost of MBI.

[oduli81]

Originally Posted by YeaF30

Saw this thread and thought I would re-post what I wrote in the F30 forum.

My car had a drivetrain malfucntion, then fuel supply malfunction, and proceeded to die on the side of the highway (during rush hour no less). Car was towed to BMW dealership service (I have Geico Towing which is cheaper than AAA and covers the first 22 miles), filed a claim with Geico for the MBI, and the BMW Service Advisor and Geico did the rest. Geico approved the claim very quickly and covered the BMW diagnostic costs. BMW replaced the fuel pump and I paid them $250 for the deductible when it was completed. Total cost of the replacement fuel pump was close to $1k and I estimate I have payed approximately $4-500 for MBI premiums on my insurance policy (which was payed for since the initial purchase of the car).

Overall, it was a very easy process and is well worth it, as long as you plan to keep the car to 100k miles like myself.

My car is a '12 328i F30 w/ 70k miles.

Thank you for your input. I am glad I placed it.

[paliknight]

Originally Posted by Poochie

Bro, I have nothing to gain by giving you misinformation; the coverage are completely different and itemized. Your deductible is set at $50, or if you live in Florida, there is no deductible for glass repair. I have a (expired) NY insurance brokers license, I know what I'm saying to you is 100% factual. If I wasn't sure, I would of said so also.

I wasn't implying you were wrong, I was implying that she was wrong, but wanted to confirm on here. Especially considering I didn't see glass anywhere under MBI on their website so I had no idea where she was getting that information from. I didn't see glass coverage as an option either when I applied for a quote online but I don't know if it's an automatic thing or something you gotta it in for. In Georgia at least.

[jtecnik]

Since I don't have Geico, can someone recommend me another company that provides MBI that is good?

[aerostar]

Originally Posted by jtecnik

Since I don't have Geico, can someone recommend me another company that provides MBI that is good?

I don't think anyone but Geico has it.

And Geico insures so many people which is what keeps the MBI cost low.

[damageprone]

Originally Posted by aerostar

I don't think anyone but Geico has it.

And Geico insures so many people which is what keeps the MBI cost low.

The only other coverage that is as good as MBI is if you bought a MaxCare warranty when you buy a car from CarMax.

[Never_Enough]

Originally Posted by boss2k

Are u telling me 30 dollars a yr for 7 yrs = 210 bucks will cover all mechanical failures of the car for 3 yrs / 50K miles, thats BS and not possible. Read the fine print.

Why is this needed on a new car with a factory warranty, though?

[damageprone]

Originally Posted by Never_Enough

Why is this needed on a new car with a factory warranty, though?

It's insurance. Many times new cars come out, but years down the road there is a potential massive problem. Like the E92 rod bearing issue in this case would be covered.

[IK6SPEED]

Originally Posted by trey100

I was on the phone with Geico insuring a new car and as they were reviewing my policy they told me I had this coverage on my M3. I was so confused why I would have warranty insurance when I already have the BMW warranty (my car is leased) so I had them remove it, as small as it was. Now reading this I am regretting it just in case I buy out my car.

I was looking at my Insurance and noticed it in the first 12 months of ownership.

Had no intention of keeping car after 36 month lease so I also removed it as it made no sense to me. I had leased and turned in all cars in the past.

Well you know what happens....and I kept car. Paid $3500 for EW after 4 years.

Figures.

[RTPenland]

Have had it on my last 3 BMWs - yes it is somewhat redundant while your car is covered under the factory 3/36 but during this period with MBI glass cracks are fixed for free and windhshields are $50 - so it's worth the $7 per month I pay couple highlights from using MBI in the past

*$250 per visit not per repair - so if you blow your tranny and a motor mount etc - and they are both fixed at the same time you only pay $250
*I simply drop my car at the BMW dealership - get my loaner as I normally would everything is paid for and I simply pay $250 when I pick up the car
*MBI IS TRANSFERABLE upon sale as long as the car will continue to be insured by Geico
*no hidden BS guys -it truly is golden and works as advertised - my last BMW between 50k and 80K miles had approximately $12k in repairs in total there were four visits to the dealer and my deducatble was $1000 (4 visits to the dealer at $250 each visit)
*does it seem too good to be true - yes - but it's not
*while my present car is leased I have MBI - reason being - windshield repair, should I exceed miles and need it before turn in for repairs, should I decide to keep the car
*when I went to sell my last car it was a great selling point in that the car had a legit 100k bumper to bumper warranty on it (as long as the new owner went with Geico - they did)

So no speculation on my part guys as to whether or not it comes through - it's awesome and delivers on what it promises

ps I had door locks , i drive screen, motor mounts, intake cleaning, exhaust, injectors, and slew of other things repaired with the policy easy breezy

[TheDailyDriven]

Hi guys,

I wanted to share my experience on how I was able to get one of the CHEAPEST Extended Warranties for my M3. That warranty is through Geico's Mechanical Breakdown Insurance.


I was able to explain my experience in a video below. Hope this brings some value to you guys and if anyone has feedback or input, please chime in. This forum helped me literally save $10K back in October of 2018 from a DSC Failure on my F30. I stumbled on this thread that made me remember about my Geico MBI insurance.

For the doubters about Geico's MBI, its legit. If you're able to add this to your vehicle get it if you plan on holding your vehicle passed the factory warranty.

[clee1982]

Originally Posted by Poochie

Robby Mack above outlined why it's that cheap..

All cars that have the coverage, the risk pool is spread across everyone, so the cost is subsidize. All I could say it's not a scam but the price the does slightly increase, as the car ages..

Why I love and keep it, even though I still have a factory warranty; they don't sweat the bs the dealers might hesitate to cover because of mods, so it's a back up really.

When Geico first offered it, the coverage was 7 years and Unlimited miles but now they limit it to 7/100k.

*They cover the clutch replacement also, if applicable*

https://www.geico.com/auto-insurance...own-insurance/

https://www.bogleheads.org/forum/viewtopic.php?t=197760

https://www.thetruthaboutinsurance.c...urance-review/

https://www.valuepenguin.com/car-ins...hould-i-get-it

cover clutch, wow!, well, if they cover break then it would be crazy (I assume they don't...)

[pz619]

I have it for about $150/year. Not too concerned about reliability except for that spun crank hub problem. I plan on keeping the car for a minute so seems like a reasonable cost.

[Poochie]

Originally Posted by clee1982

cover clutch, wow!, well, if they cover break then it would be crazy (I assume they don't...)

Unfortunately, brakes pads and rotors are excluded as "wear and tear" items but the clutch and pressure plate are definitely covered.

I guess it's because the manual clutches are supposed to typically last the life of the vehicle, so it falls under a 'mechanical' defect.

[SteveinArizona]

Originally Posted by Never_Enough

Why is this needed on a new car with a factory warranty, though?

I have it and in my mind it lets me keep my car for seven years without worrying about major problems. I don't think that BMWs are particularly prone to breakdowns BUT they are complex and complex things tend to break more than simple things. And when they do, they are expensive.

[GenXer]

I've had it on every vehicle I've bought and that's over 30 vehicles in 20 years. It's absolutely the best deal out there. It's 7/100K miles whichever comes first and you can cancel it any time. It's pay as you go. I've used it once on my 1999 Buick Century when I blew my engine at 90K miles. I had the dealership call Geico, they made all the necessary arrangements, and replaced the motor. All I had to do was write a check to the dealer for $250. They even covered my C7 Corvette. The only car I own that they would not cover was the Alfa Romeo Giulia.
I was told MBI is not available on Lamborghini, Ferrari, Maserati, Aston Martin as well as other exotics. BMW, Audi, Mercedes, Porsche are eligible.

[alex2364]

Originally Posted by GenXer

I've had it on every vehicle I've bought and that's over 30 vehicles in 20 years. It's absolutely the best deal out there. It's 7/100K miles whichever comes first and you can cancel it any time. It's pay as you go. I've used it once on my 1999 Buick Century when I blew my engine at 90K miles. I had the dealership call Geico, they made all the necessary arrangements, and replaced the motor. All I had to do was write a check to the dealer for $250. They even covered my C7 Corvette. The only car I own that they would not cover was the Alfa Romeo Giulia.
I was told MBI is not available on Lamborghini, Ferrari, Maserati, Aston Martin as well as other exotics. BMW, Audi, Mercedes, Porsche are eligible.

Porsche owners will be upset they're not considered exotics.