I posted last week regarding the alternator failure on the Signum. The car is over 5 years old and has done 74000 miles and it is interesting that the heavy discount applied to the contribution rate by the insurers (in my case Warranty Direct) on parts costs is now is now kicking in.
Warranty Direct works on basis of £50 excess PER failed unit plus a discounting of 30% (for mileage being over 60000) in the claim paid on that part (not labour). There is a table of allowances over 60000 miles.
So in my case - VX Dealer Alternator = £230 less parts discount 6% (from dealer) less 30% mileage discount (if I had done less than 60000 miles then I would have recovered 100% of parts cost because car is less than 6 years old) then VAT on top so I recover basically £181.60 out of a gross parts cost of £259.44. Plus labour recovered at £80 per hour plus VAT in full ( they always pay 100%). This is a 1.5 hour job so £120 plus VAT is recovereable by me. A £50 excess is then applied to the total.
Unfortunately the dealer has now reported the 2 front shock absorbers leaking. If the faulty shocks were on same side then just one £50 excess less the 30% on parts. But being on separate sides of car it is deemed a separate claim so £50 less 30% on both which is a shame. Labour is covered at 100% again.
I have only just renewed this policy in last month at a cost of £400 - so a few mixed feelings about it all.
Main reason for the cover is fear of DMF and clutch job and other large items which are labour intensive.
Author
Topic: Insurance Based Car Warranties (Read 783 times)