It seems that the guys who sell Honda Care's insurance policy (aka "warranty" have great luck with it and those that don't somehow have bad luck with it.

Statistically, especially on a reliable/dependable car, extended "warranties" are not worth it.

I've seen lots of people get denied claims by honda care. Sure, there are worse policies out there, but as stated these companies are in business to make money so it should be fairly obvious that they will do what they can to ensure that they aren't covering more than they need to.

Tiple H: wheel bearings and hubs cost you $1,000? if not, the hondacare insurance hasn't saved you anything yet.

 

This is a really dumb argument. The "odds" are ALWAYS in your favor (against something going wrong) for any type of insurance, but that doesn't mean you shouldn't buy it anyway

 

There's a difference between regular insurance and extended warranties. You carry medical insurance because most people couldn't afford a hospital visit if you accidentally fall off your roof, car insurance in case you run into someone/something. Extended warranties on cars, electronics, etc are generally bad choices as the cost of repairing or replacing the item it was purchased for is not very expensive and won't put you in debt for years.

Extended warranties are generally a bad idea, especially if you are financing the insurance.

 

Splitting hairs. The Hondacare is vastly different from buying insurance for a plasma TV that has a statitistically insignificant failure rate and the only repair part is $300.

1. Cars are critical transportation for most of us. It is a hastle for me to make liquid 3k on a moment's notice.

2. Virtually any repair on the car is at least 500 USD (based on my experience with my CRV). The car is very reliable, but a new diff or the great Honda AC problem, pay for themselves 3x over.

 

Not to mention they lie about what it covers. They said she could overrev and blow the motor and it be covered.

 

You mean a sales person lied to you?

Contracts describe what is covered and what is not. The law of the land since 1600.

It also doesn't cover lugging, ramming into trees, handbrake spins, metorite impact, and jihaddi love.

 

~70% of what you pay goes to the salesman, ~20% goes to profit for the company, and only ~10% on average goes to paying claims! As I said, there will be instances where someone may benefit from the warranty, but the odds are heavily on your side. Besides, most things that break won't cost you $2100 anyway. Why pay for parts/labor on something that hasn't broken?


70% dude what are you talking about???? . try 2-3%

at 100.00 per hour for labor, 2000.00 comes up fast. motor, trans, diff, all cost that and then some, but odds are they may not break, I just dont want to be the odd-ball that gets stiffed with an unexpected 2-6000 bill if something does go wrong. for 15 bucks a month, some would rather pay that than one big bill IMO. even the space shuttle blew up! meaning, the best mech eng. in the world built with millions of dollars goes wrong from time to time.

Same as health ins. the company wins, no doubt, but the day you trip and fall and need your arm x-rayed and you get a bill for 3000.00 you wished you had it....

dont listen to me, listen to your wallet! if you can afford the repair, dont get it, if you cant afford to shell out an additional 2-6000 on an unexpected repair, 15 per month is worth it IMO...

Matt

 

It's a personal choice, some want it, and some don't. The OP clearly doesn't, but people that sell hondacare in here and shocked about it. The information on cancelling it was provided, this thread can end.

 

That's a problem with the salesman, not with the policy. I highly doubt the Hondacare contract itself says that you can overrev and blow the motor and they will still replace it.

 

No doubt. You can make a case either way for having it or not. But to suggest unequivocally that there is only one possible correct decision, and that buying the warranty is wrong, stupid, etc. is fairly ignorant.