Marine Service Contracts info wanted
MMaral
Contracts? During the negotiations of the purchase of our new boat
it was brought up. This perticular contract is by First Protection and
covers essential all the lubricated components of the motor and out-
drive. It also gives you credits towards towing charges, in and out
fees, etc. The contract is for 5 years and is transferable to the new
owner should you sell the boat. The cost is around $400. Anyone
have any thoughts pro and con?
Thanks,
Mark Maral
Bill Walker
Given proper maintenance, it's not likely that any of the lubricated
components of your drivetrain will fail during the first five years.
This, of course, is what the insurance company is betting on, and why such
insurance is financially possible. Lacking proper maintenance, something
might fail, but it won't be covered because it wasn't properly
maintained. But if you do the maintenance, and something _does_ break, it
could easily cost much more than $400 to get it fixed (e.g., I had to buy
all the lower gears for my old stern drive, and the parts alone were over
$1000). On the other hand, you're buying a new boat, so you've got a
warranty for the first year, anyway, which ought to be enough for any
built-in problems to surface.
I'd be inclined not to buy it, but then, my brother-in-law is a mechanic
and he works on my boat for free (well, I do have to take him skiing).
Questions I'd ask:
Will shops take payment directly from the company, or do I have to pay
first and then get reimbursed by the insurance?
Do I need to get an estimate and get it approved before repairs can commence?
How do I make a claim under this policy?
What financial shape is the company in?
This is basically the same thing as automobile extended warranties, and an
awful lot of people got burned by fly-by-night warranty companies that
were no longer in business by the time they needed to make a claim.
----------
Bill Walker - WWa...@qualcomm.com - QUALCOMM, Inc., San Diego, CA USA
"First thing we do, we kill all the lawyers." - Shakespeare
Ava Mckittrick
Hi mark,
we own a Trakker and opted for the 5 year warranty..similar
services offered...cost us think 500$..
It covers the boat/trailor/merc
top to bottom,
has 25$ deductible after first year..
We spend alot of time on the Deleware river in the big
waters and are aware that a tow by the coast guard would
be big money...so figured worth it.
When the boat was 2 months old we were out and we blew like
10 fuses in a row.. lost the trim, was dark, no lights
on and on and on....like 12mn...
The boat had to rewired....like new wiring harness...
seems little screw made its way thru the wiring when
the bimini top was installed..
Knowing just how much the Merc itself cost...
and that we didnt have a few hundred dollars here and there
should we be stuck with a Lemon.
think we made a wise buy..
The boat is gonna be with us for while...so...
Our service contract is right From trakker, manufacture of
the boat.. We got a great service dept near us...
and we couldnt be happier.
Think is a good investment..for us atleast..
happy boating, fishing, crusing, skiing..whatever...:)