[mob17]

I am coming up to my warranty renewal and have the below quotes, based on 59400 miles:

Level: Comprehensive
Excess: £0
With Emergency service
Yearly £651, monthly £60

Level: Comprehensive
Excess: £100
With Emergency service
Yearly £470, monthly £43

I'm not sure what excess i should go for! Currently its £0. Also whats the difference in paying annually and monthly? In their terms and conditions it says they can change monthly premium. I'm afraid they might change it in a few months as i'm close to 60k miles? On the other hand maybe paying monthly is better as i'll be over 60k miles next year, so if i do annual one it will shoot up next year.

Any ideas?

[Mani59]

As you say, they changed their terms and conditions recently where if you opt for the monthly policy, they can change the monthly premium (by giving you 30 days notice i think).
So once you go over 60k, expect a increase in your monthly premium.

The only benefit of the annual policy is that if you sell the car to a private individual, it can be transferred to the new owner.

Have a look at the BMW Warranty site and see how much the annual and monthly policy is for your car at over 60k. If your car is a AUC car, then the prices you have quoted above are probably the discounted prices off a letter they sent to you.

https://www.bmw-warranty.co.uk/Start

If it was me, I would go for the annual policy with £100 excess.
Before the change in their terms and conditions, I would have definitely say go for the monthly policy and "lock" yourself in!

Hope that helps

[windymissile]

Pay it monthly and you can keep it rolling for as many miles as you like.
Pay it yearly and you will have to do a re-quote in 12 months when you are above 60k. It then becomes non-viable.

I started mine at about 56k and now I'm at 78k. Still paying the same <60k premium.

WM

[RajB]

Originally Posted by windymissile

Pay it monthly and you can keep it rolling for as many miles as you like.
Pay it yearly and you will have to do a re-quote in 12 months when you are above 60k. It then becomes non-viable.

I started mine at about 56k and now I'm at 78k. Still paying the same <60k premium.

WM

This used to be the case as the monthly layment policy was basically set up with a life span of 4/5 years so no change. However as above they have change their T&Cs so they have the right to now increase even the monthly policies.

Whether they do or not is another matter but they have the right to now.

[IanS100]

I recently renewed my warranty & asked that specific question about monthly payments & the answer was that the premium would go up at 60k regardless of how you pay.

[mob17]

Hmm so if i go for monthly they will probably increase my premium, considering i'm only 600miles off 60k?

Just did a quote for 61k!

£0 excess annual £1119!! Monthly £103
£100 excess annual £748 and monthly £68

So are you guys saying defo go for annual as they will change my monthly premium soon as i'm only 600 miles off 60k? Have they changed any of your monthly payments?

[IanS100]

I pay annually as it works out a bit cheaper, & seeing that £68 deduction every month would really P' me off

[windymissile]

Well. They have yet to contact me to tell me anything about it going up.
I guess I'll have to have a look into the new t+c's.
I got two new turbos well into 70k.

Wm

[mob17]

Really don't know what to do...

[RajB]

Originally Posted by windymissile

Well. They have yet to contact me to tell me anything about it going up.
I guess I'll have to have a look into the new t+c's.
I got two new turbos well into 70k.

Wm

You signed up on the old T&Cs so they can't do anything now until the end of the term so you are all good.

[RajB]

Originally Posted by mob17

Really don't know what to do...

Due to the new T&Cs I'd pay for the full year as that way the premium is paid and set for the year. Monthly they will adjust straight away.

[IanS100]

Originally Posted by RajB

Due to the new T&Cs I'd pay for the full year as that way the premium is paid and set for the year. Monthly they will adjust straight away.

How will they know you've gone over 60k? I assume the premium will only be adjusted on the next annual renewal when you have to declare the mileage, or maybe if you make a claim!

[RajB]

Originally Posted by IanS100

How will they know you've gone over 60k? I assume the premium will only be adjusted on the next annual renewal when you have to declare the mileage, or maybe if you make a claim!

Mean adjust straight away once they find out. But it's still cheaper to purchase one off for the year.

[Mani59]

Originally Posted by IanS100

How will they know you've gone over 60k? I assume the premium will only be adjusted on the next annual renewal when you have to declare the mileage, or maybe if you make a claim!

If your mileage is over 60k when you make a claim and you have not declared it, surely Mondial could decline the claim and maybe terminate the policy?

Also, correct me if I am wrong, but doesn't the key fob record recent trips/mileages?

[L1oydee]

I waited until the renewal had lapsed and they quoted a cheaper price!

[mob17]

I don't think there's a legal requirement to declare it when it goes above 60k, it doesn't state that you have to in their terms and conditions.

I might just phone them to clarify if they will change it monthly when i go over 60k. If so them will just go with annual as suggested.

[mob17]

Originally Posted by L1oydee

I waited until the renewal had lapsed and they quoted a cheaper price!

I read in their t&c's that you have to have constant cover?

[andysat]

With the £100 excess does that include diagnosis?

[mob17]

Originally Posted by andysat

With the £100 excess does that include diagnosis?

I think they pay out for diagnosis. The £100 is what you have to pay for each successful claim.

[andysat]

Thanks I will be in the same boat come June, dealers told me they will give me a special rate because I have had so much trouble with it.

[DMH-01]

According to the BMW site...

"Insured Warranty can either be purchased annually or on an ongoing, monthly basis. If you choose the monthly cover option, the price is fixed for a 12 month period".

[DMH-01]

Originally Posted by RajB

You signed up on the old T&Cs so they can't do anything now until the end of the term so you are all good.

Just out of interest, do you know when the T&Cs were updated?