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Does anyone know anything about extended warranty underwriting?

I presume the pricing is driven by some assessment of probability and likely losses.

Porsche probably have a much larger population of cars on which to assess the profile of claims. Wouldn't want to do statistical probability on a sample of 1500.
 

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Does anyone know anything about extended warranty underwriting?

I presume the pricing is driven by some assessment of probability and likely losses.

Porsche probably have a much larger population of cars on which to assess the profile of claims. Wouldn't want to do statistical probability on a sample of 1500.
True, but the figures quoted on this thread so far seem to be double (ish) what Porsche are quoting.

Is the GT-R going to be twice as unreliable or twice as expensive to fix?
If not it's the good old GT-R tax in effect again. Nissan milking us.
 

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As a footnote guys, warranties are not a regulated financial product via the FSA, but they are covered by the financial ombudsman. The key point here is that the ombudsman will investigate once there has been a loss i.e. you need to have bought the product first.

Read more on warranties from the financial ombudsman here:

extended warranties

So far Nissan & James have responded promptly - fair play. Let's see what comes back next week. They are regulated by the FSA (not for warranties) so Nissan have a published complaints handling procedure which I'll also use if we get nowhere via this route.
 

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I presume the pricing is driven by some assessment of probability and likely losses.
That's it in a nut shell and when Nissan quote some rediculous price for a new engine or gearbox when a fix would cost perhaps £2-3K the price of the insurance goes up.

The price of £2600 for one year could £1000 policy and £1600 profit judging by some of the prices quoted on here for parts.

Anders
 

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Details all through from Waranty direct:

franchise dealer repair
£50 excess

1 year £760
2 year £1368
3 year £1938

There does not seem be anything that is explicitly excluded that would conern you, unless you regulary track the car or carry and nuclear or explosive material
 

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Details all through from Waranty direct:

franchise dealer repair
£50 excess

1 year £760
2 year £1368
3 year £1938

There does not seem be anything that is explicitly excluded that would conern you, unless you regulary track the car or carry and nuclear or explosive material
I just got an online quote from Warranty Direct. It was £988 for one year on their LuxuryCare policy at a franchised dealer.

I was only offered a 1 year policy, no 2 or 3 year options. Did you call then to get the 2 and 3 year quotes.
 

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Hi Guys i also enquired about an extended warranty with A F NOBLES in edinburgh, and got back those ridiculous figures of more than double what porche charge!!! i asked to speak to the main man there and told him exactly what i thought!!! I asked how can Nissan justify charging that sort of money and since the GT-R rivals porche on performance at a non supercar price why cant they beat their prices on warranty, the answer i got back is head office sets the prices and not the hpc and that the prices are that high due to the cost of replacing the transmission!!!

So all i can say is B*****KS to that and hello litchfields!!!!
 

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I just got an online quote from Warranty Direct. It was £988 for one year on their LuxuryCare policy at a franchised dealer.

I was only offered a 1 year policy, no 2 or 3 year options. Did you call then to get the 2 and 3 year quotes.
did it online and someone phoned me back, I asked if what their definition of an 'independent' garage was for repair and essentially its £50ph, I assume litchfield is some what more than that, so they suggested the franchise dealer rate at £200ph, but would keep the £760 price for me.

When the documentation came through this morning they had the 2 & 3 year prices on it discounted as in the above post.

So it appear the choices are:

HPC=£2500 py
MH=£1500
Litchfields= £1000
WD=£760

bit of a no brainer, especially given I can not see what the HPC would cover that WD would exclude
 

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HPC=£2500 py
MH=£1500
Litchfields= £1000
WD=£760
Given that choice, I would go Litchfields without a doubt.
WD and the like will try and wriggle out of any claim, it's how they make a living.
I have more faith in Iain's honesty.

However, have Litchfield actually confirmed they are going to do a warranty and what the cost will be... or are we guessing?
 

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Given that choice, I would go Litchfields without a doubt.
WD and the like will try and wriggle out of any claim, it's how they make a living.
I have more faith in Iain's honesty.

However, have Litchfield actually confirmed they are going to do a warranty and what the cost will be... or are we guessing?
litchfields and MH are both guesses at the moment
 

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Given that choice, I would go Litchfields without a doubt.
WD and the like will try and wriggle out of any claim, it's how they make a living.
I have more faith in Iain's honesty.

However, have Litchfield actually confirmed they are going to do a warranty and what the cost will be... or are we guessing?
Iain will be offering a policy and it is in the final stages of being put together, he has NOT released any prices as yet.
 

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Hi guys spoke to Ian at Lichfields today and he's told me his warrantys will cover mods carried by them no matter what and the cost for it will be £995 per 12months and it will cover everything except consumables and it will also include breakdown cover so I think that's a fairly good deal
 

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Hi guys spoke to Ian at Lichfields today and he's told me his warrantys will cover mods carried by them no matter what and the cost for it will be £995 per 12months and it will cover everything except consumables and it will also include breakdown cover so I think that's a fairly good deal
No brainer to me.
Gives owners or purchasers of Litchfield tuned cars security too. :)
 

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Yup I agree, it's a must in my opinion to have a good warranty on these buggers because when they go wrong it's time to remortgage or start crying!!!
 

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sounds great will be transferable to a new owner within the warranty period for a small charge.?? Wonder how often the car has to be serviced i.e My 09 model ?? and by Litchfield. ?? Will have to give Ian a call ... perfect for me as already have stage 1 and gearbox upgrade. I am sure this will be good for resale values as well to a knowledgeable purchaser
 

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James Deacon has emailed me to say he has all he details to reply and will do so tomorrow. Will post the results when I receive them.

In the meantime WLMG have sent me the generic T&Cs of the Nissan extended warranty. I'll post these tomorrow am. There are no surprises but it's not clear which version the £2.6k premium applies to.

Has anyone received formal confirmation of Litchfield's warranty yet? Any T&Cs?
 

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Hi Guys,

http://dl.dropbox.com/u/14055475/Nissan Care Ext Warr Dealer Policy Summary.pdf

Here is a link to the generic "NISSAN CARE EXTENDED WARRANTY" key facts document. WLMG have indicated to me that this is the policy behind the £2600 pa warranty price for the GT-R. You'll see that there are 2 products described in here;

1) Ultimate cover
2) Premium cover

The only difference I see is that Ultimate seems to cover for any OEM failure, where as Premium only covers you for failures against "against unforeseen failure of an extensive list of mechanical and electrical components". I've asked for confirmation to which product to the £2.6k quote applies.

It's worth looking at the "SIGNIFICANT EXCLUSIONS OR LIMITATIONS" section. Note: The warranty doesn't cover any diagnostic time.

Cheers
 
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