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Self-insurance vs Warrenty


Banman

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I have made the decision to go for self-insurance for my 2017 Plus (36,000 miles) instead of allocating a budget of 7-8k towards Fidelity or any other extended warranty provider.

I believe that having a budget of 7-10k for repairs would be sufficient, as opposed to transferring such funds to a corporation that is very probable to reject the claims. After doing thorough study, I have seen that even the esteemed Fidelity is increasingly refuting several assertions when searching outside this forum.

The expiration of my platinum policy occurred in the previous month, resulting in a dual coverage arrangement between the factory Audi warranty and my Fidelity platinum. Consequently, I only received the advantages of three out of the six-year period for which I made the purchase of the vehicle in January 2018.

If the cost was almost twice what it used to be? (Obviously, the selling dealer is increasing the price of these items by 2-10 times their original cost.)

These automobiles are rather dependable, and because I no longer drive as often as I used to, the probability of a catastrophic event occurring is minimal.

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My vehicle is a McLaren 675LT and I have a self-protection feature that does not come with a guarantee. I have had the vehicle for a duration of five years, during which I just had to replace the dld, resulting in a cost of $10,000. Otherwise, the automobile has been quite stable.
The reputation of McLaren is well known, correct? The cost for the extended warranty of the 675LT over a period of five years is $35,000.
I own a 2017 R8 vehicle and am now maintaining it without an extended warranty.

Based on my research, the Audi is characterised by its predictability, reliability, and durability.

The key factor lies in one's level of risk tolerance.

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Images of the LT? Adore adore automobile.

OP - I fortuitously became acquainted with Autrella a few weeks subsequent to the failure of my Mclaren engine heads, which incurred a total cost of around $27,000 for repairs, in addition to an additional $1,500 for turbo repair. Their 4-year warranty would have cost around $9,000. After consulting with my team at Autrella, I was informed that, if I had possessed my warranty, all aspects of the vehicle, save for the spark plugs, would have been fully covered. In my view, it is the primary justification for obtaining a warranty.

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Is that so? This is prompting me to reconsider the 10-year fidelity warranty that I just acquired. However, I acquired it at a low cost due to the fact that my vehicle has less than 10,000 miles.

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If you get it at a low cost, I believe you are in good shape. I am unable to justify spending 7-9k (or more) on a hypothetical situation in my situation. I have had my automobile since January 2018, and I have consistently maintained the servicing and promptly addressed any issues that arose. My maintenance expenses are still covered by the mileage of 60,000 miles. These automobiles have a high degree of durability. Turbo vehicles with factory internals are generating more than 1300 rwhp. My 610 motor has a low horsepower.

Upon doing study, it becomes evident that Fidelity is no longer only engaging in transactions for the purpose of payment.

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Indeed, I believe that aftermarket warranty firms, similar to insurance companies, remain operational and financially successful due to their ability to disburse payments that are lower than the premiums paid by clients.

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No? All of my Fidelity clients have reported no problems, and I have a substantial number of them.


I am uncertain about the intended interpretation of the statement "Fidelity is denying a lot claims." Could you please clarify whether the statement refers to Fidelity's denial of claims pertaining to repairs conducted on non-covered components that are explicitly mentioned in the contract?

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Upon examining several websites and social media platforms, many have expressed concerns over the current state of claim payments.

If you have sold a significant number of units, you should be capable of providing a response.

What is the total number of engine replacements that Fidelity has had to handle in Gen 2 R8 vehicles?

Can you provide more precise information on the proportion of gold/platinum plans for Gen 2 R8 that have undergone engine replacement?

What is the number of individuals who have had to replace significant components that surpass the expenses of a gold/platinum plan?

I am interested in determining the number of lost plans for Fidelity. Could you provide a particular percentage for the Gen 2 R8?

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Based on the reviews I have seen online, including on Rennlist and other forums, it seems that customers generally have had a favourable experience with Fidelity. I have also seen instances when the warranty exceeded its own cost. Several instances of unfavourable remarks I have seen include situations when an individual's expectations were not in line with the actual circumstances. For instance, we restored a defective component but declined to replace another component that the owner stated was also on the verge of failure, although not having actually failed yet. Although I have not yet seen their Facebook page, I will do so. A fidelity platinum is a plan that excludes certain individuals. Are you referring to Fidelity's denial of claims on legally obliged coverage when you say "they don't always pay"? Given this scenario, I anticipate a slew of legal actions being filed against them, which would get significant attention on both news outlets and social media platforms. I am unable to perceive that.

Here, I am accompanied by Trenton...The validity of the guarantee extends beyond the mere replacement of the engine. The accumulation of little expenses for those who do not engage in do-it-yourself activities may be significant, particularly when carrying out tasks at a dealership. The determination of ROI is a personal task that requires considering factors such as the cost of admission, utilisation, and risk tolerance. If the price of the automobile is less than $10,000, spending $6.8,000 or less for a 10-year platinum warranty does not seem foolish. Regarding automobiles with higher mileage, I acknowledge that the warranty cost may be much more, and it is your responsibility to determine if it is worthwhile. It seems that in your situation, it is not, and I appreciate that.

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Self-insurance may be a more cost-effective option, provided that one has the financial means to do so and does not own a vehicle with a history of failures above the average.

Certain warranties include a significant amount of profit, making it a logical decision to get self-insurance.

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