MBO MEMBERS WARRANTY - WARRANTYWISE

[Warrantywise]

Good morning all

We apologise for the delay in coming back to you. Our underwriting team will be discussing the pricing on all Mercedes models this week. The consensus from all who have commented on this thread is of paramount importance to us in our attempts to continually improve our products and service.

Warrantywise will never shy away from the fact that we aren't the cheapest on the market, preferring to focus on the promise that your repair claims will be paid. The truth is that many of our competitors will quote a ridiculously cheap price at inception to obtain your business, but then when it comes to you making a repair claim, difficulties arise surrounding the payment of these repairs, with some companies giving quite ludicrous reasons as to why they won't be paying out. As you can imagine we hear many horror stories. It's important to remember that if you think the price is too good to be true, that is probably the case.

Despite this, the prices quoted and the feedback thus far is a cause for concern, hence the course of action that is now in effect.

We will be back on this thread before the end of the week with an update.

Many Thanks
Warrantywise

Good afternoon MBO members

Talks have now taken place between our underwriting and management teams in regard to our Mercedes pricing structures. Mercedes Benz warranties are our 2nd highest in terms of sales, so it has been vital to take in to account the feedback we have received on this thread.

We are in a position where some of our competitors are pricing at retail what we put in to underwriting to cover the same model and its potential repairs. It is imperative that our potential customers view these cheaper prices with a degree of caution. It begs the question of how these companies can afford to pay your repairs when they charge you such low premiums? The price looks attractive but is the warranty going to do what it is ultimately intended for?

As we have said before, we never shy away from the fact that we aren't the cheapest, but we will guarantee to pay your valid repair claims. Some of the most prestigious dealerships in the country offer our warranty - Tom Hartley, Amari, Graypaul, Lipscomb, Proveeda, Maranello, Sytner, etc - It fits with their branding as an extension of the manufacturers warranty due to the level of cover we offer and the fact we state, unchallenged, that we are the UK's best used car warranty. We aren't here to saturate this forum with unnecessary sales jargon, but would rather offer an honest and informative service to our potential and existing customers.

As a new special offer to all MBO members, we will give a free 10% discount: QUOTE MBO01 when you speak with us.

Any queries as always please don't hesitate to ask.

Kind Regards
Warrantywise

 

[drmw]

Good afternoon MBO members

Talks have now taken place between our underwriting and management teams in regard to our Mercedes pricing structures. Mercedes Benz warranties are our 2nd highest in terms of sales, so it has been vital to take in to account the feedback we have received on this thread.

A great pity in that case it has not resulted in anything of any substance

We are in a position where some of our competitors are pricing at retail what we put in to underwriting to cover the same model and its potential repairs. It is imperative that our potential customers view these cheaper prices with a degree of caution. It begs the question of how these companies can afford to pay your repairs when they charge you such low premiums? The price looks attractive but is the warranty going to do what it is ultimately intended for?

In many years of MB ownership, in the case of Warranty Direct - yes

As we have said before, we never shy away from the fact that we aren't the cheapest, but we will guarantee to pay your valid repair claims. Some of the most prestigious dealerships in the country offer our warranty - Tom Hartley, Amari, Graypaul, Lipscomb, Proveeda, Maranello, Sytner, etc - It fits with their branding as an extension of the manufacturers warranty due to the level of cover we offer and the fact we state, unchallenged, that we are the UK's best used car warranty. We aren't hear to saturate this forum with unnecessary sales jargon, but would rather offer an honest and informative service to our potential and existing customers.

Vacuous drivel.
"valid repair claims" - a well trodden escape route.
Indeed you state (repeatedly) that you are the UK's best used car warranty, but you have never managed to produce any proof whatsoever of this claim.
The only reason you are here (note correct word) can be to sell - every post has been full of sales jargon

As a new special offer to all MBO members, we will give a free 10% discount: QUOTE MBO01 when you speak with us.

That is the most insulting offer you could have made - better to stick to your excessive prices, then have your sales people call up and reduce by 30%

Any queries as always please don't hesitate to ask.

Kind Regards
Warrantywise

I wouldn't hold my breath if I were you

 

[Warrantywise]

A great pity in that case it has not resulted in anything of any substance



In many years of MB ownership, in the case of Warranty Direct - yes



Vacuous drivel.
"valid repair claims" - a well trodden escape route.
Indeed you state (repeatedly) that you are the UK's best used car warranty, but you have never managed to produce any proof whatsoever of this claim.
The only reason you are here (note correct word) can be to sell - every post has been full of sales jargon



That is the most insulting offer you could have made - better to stick to your excessive prices, then have your sales people call up and reduce by 30%



I wouldn't hold my breath if I were you

David,

I'm sorry we cannot convince you. I can assure you however, that we do not give 30% discounts (unlike WD), the prices are the way they are so we can afford to pay claims at the Mercedes Main Dealer if your car goes wrong.

I fail to see how a 10% discount for MB owners is insulting. Looks like you're beyond saving from cynicism David.

 

[Still Learning]

I am a Warrantywise client, with the 06/60 cover.

I have never had to claim so I cannot comment on the quality of the product.

The comments made by Warrantywise have reduced my faith in the cover.

I think you have underestimated what is required to achieve 'sales promotion via internet forums'.
The members of this forum are straight talking professionals (the majority demographic of a Mercedes owner), but your posts contain nothing to appeal to such an audience.
Factor in the multiple 'get out clauses' and your lack of appeal sinks to alienation.

Please, if we ask a straight question, bypass your sales department, go straight to underwriting, and give us a straight answer.

If you can't do this, you have nothing to gain, and as you have seen from this post, something to lose.

 

[Warrantywise]

I am a Warrantywise client, with the 06/60 cover.

I have never had to claim so I cannot comment on the quality of the product.

The comments made by Warrantywise have reduced my faith in the cover.

I think you have underestimated what is required to achieve 'sales promotion via internet forums'.
The members of this forum are straight talking professionals (the majority demographic of a Mercedes owner), but your posts contain nothing to appeal to such an audience.
Factor in the multiple 'get out clauses' and your lack of appeal sinks to alienation.

Please, if we ask a straight question, bypass your sales department, go straight to underwriting, and give us a straight answer.

If you can't do this, you have nothing to gain, and as you have seen from this post, something to lose.

Hi Still Learning...

If you can let me know the questions you have we will be happy to answer them in a straight forward manner.

We don't have multiple get out clauses, as Quentin has designed this warranty to be completely free of what he calls 'weasel words'.

We came on this forum as a way to further connect to Mercedes Benz owners. Our Managing Director is a Mercedes fan who owns a concourse R107 300SL and suggested we should have a presence on the Owners Club forum. However, it seems that we are struggling to get our message across. In short, we know our warranty is more expensive that the rest of the competition out there, but we always aim to be cheaper and more comprehensive than the Mercedes extended cover that they offer.

Unfortunately in the warranty world you do get what you pay for. If you own an SL like yours a claim upwards of £2,000 is not un-common, especially if it has the ABC suspension. A cheaper warranty is no good if it doesn't pay out. In the same way that if you lose your Louis Vuitton luggage and have travel insurance that cost £12 per trip, you won't be expecting them to pay you the £thousands you need to replace it. However, if you had taken the Post Office travel insurance for £120+ you would have the security in believing in the product you had. The same goes for Warrantywise. Warranty companies CANNOT cover Mercedes Motor Cars for £300-400 per year, it just doesn't stack up - there wouldn't be enough money to pay the large claims.

We have complete faith in our product and know that the cover level we have is the highest level in the UK. We perform regular checks with ALL other warranties, including Mercedes', to make sure we offer the highest cover you can get. We have been advertising in the national press and on TV that we have the "Best used car warranty" for over 2 years now and remain unchallenged.

Please direct any questions that you would like an answer to and we will reply asap.

Thank you. Rick, Online Marketing Manager, Warrantywise.

 

[Frontstep]

The problem is preaching to the unconverted, most of us are able to effect repairs and reduce so called retail repair costs so the doomsday scenario you try to frighten potential customers with doesn't work, just alienates.
Some of the posters on here are more capable than some of the garages who repair.
The type of person who frequents a forum would seem by nature to be inquisitive and not generally to be taken for a ride.
I have seen no quotes from a aftermarket warranty company that fall into the no brainer department on price/cover.
As the market develops new entrants might sharpen the underwriters pencil but we don't even have the sharpener out yet.

 

[Developer]

It's a brave company that engages a forum in conversation, when offering a "Marmite" product.

I hope some good comes of it.

 

[Warrantywise]

We appreciate a car warranty doesn't appeal to every single person.

There are 1.5 million cars a year that come out of manufacturers warranty, and we exist to cater to those people who want the added piece of mind a Warrantywise car warranty provides if their car breaks down.

 

[drmw]

David,

I'm sorry we cannot convince you. I can assure you however, that we do not give 30% discounts (unlike WD), the prices are the way they are so we can afford to pay claims at the Mercedes Main Dealer if your car goes wrong.

I fail to see how a 10% discount for MB owners is insulting. Looks like you're beyond saving from cynicism David.

Based on everything you have submitted to this forum, no, you cannot convince me, or at least you haven't as yet.

I've never found it a good idea to adopt a negative selling approach by citing your competition, particularly when the example used is the fact they will discount!

You cannot "save" me, or anyone else for that matter, from cynicism. I am a fair person and I have not specifically singled out Warranty Wise for my mistrust - I mistrust all insurance businesses to an equal extent.

So, then, rather than trying to save me, drop the "we are the best" mantra as it's convincing nobody and devote some of your energies to showing us why - with specifics examples

 

[Still Learning]

If you can let me know the questions you have we will be happy to answer them in a straight forward manner.

We don't have multiple get out clauses, as Quentin has designed this warranty to be completely free of what he calls 'weasel words'.

I am referring to your posts about the oil seals.

We came on this forum as a way to further connect to Mercedes Benz owners. Our Managing Director is a Mercedes fan who owns a concourse R107 300SL and suggested we should have a presence on the Owners Club forum. However, it seems that we are struggling to get our message across. In short, we know our warranty is more expensive that the rest of the competition out there, but we always aim to be cheaper and more comprehensive than the Mercedes extended cover that they offer.

I agree - you are struggling. I think it would help if you highlighted the key differences between your product, and the next most expensive. I'd suggest the 06/60 product as an example.

Unfortunately in the warranty world you do get what you pay for. If you own an SL like yours a claim upwards of £2,000 is not un-common, especially if it has the ABC suspension. A cheaper warranty is no good if it doesn't pay out. In the same way that if you lose your Louis Vuitton luggage and have travel insurance that cost £12 per trip, you won't be expecting them to pay you the £thousands you need to replace it. However, if you had taken the Post Office travel insurance for £120+ you would have the security in believing in the product you had. The same goes for Warrantywise. Warranty companies CANNOT cover Mercedes Motor Cars for £300-400 per year, it just doesn't stack up - there wouldn't be enough money to pay the large claims.

Please...your example about the designer label luggage is unnecessary. I perceive it as condescending and superfluous. We are professionals, thus we know you get what you pay for. Please tell us what we get over and above your nearest competitor.

My SL, in common with most other 350 models, does not have ABC, but you do not differentiate it from those which do.
I am aware that despite this, a claim could exceed £2000, therefore my single repair limit is set at £8000 (Warranty Plan Summary).
My labour rate is also set at up to £200 per hour in case the car is recovered to a London main dealer.

We have complete faith in our product and know that the cover level we have is the highest level in the UK. We perform regular checks with ALL other warranties, including Mercedes', to make sure we offer the highest cover you can get. We have been advertising in the national press and on TV that we have the "Best used car warranty" for over 2 years now and remain unchallenged.

Is this advertising? I see no facts in this paragraph. Why the quotes around "Best used car warranty"?


In summary, please stop the 'wordy' advertising. 'We have complete faith' and 'the highest cover you can get' are examples of text with no substance, and may explain the reaction you are experiencing.

Please illustrate a real world example (I have no issue with you quoting my cover summary including the price), along with the promise I was given over the phone (namely if I keep the car until it exceeds 10 years of age, and continue my warranty cover, I'll still enjoy the conditions & price of my 06/60 policy).

Thanks for continuing the discussion.

 

[Warrantywise]

I am referring to your posts about the oil seals.




I agree - you are struggling. I think it would help if you highlighted the key differences between your product, and the next most expensive. I'd suggest the 06/60 product as an example.



Please...your example about the designer label luggage is unnecessary. I perceive it as condescending and superfluous. We are professionals, thus we know you get what you pay for. Please tell us what we get over and above your nearest competitor.

My SL, in common with most other 350 models, does not have ABC, but you do not differentiate it from those which do.
I am aware that despite this, a claim could exceed £2000, therefore my single repair limit is set at £8000 (Warranty Plan Summary).
My labour rate is also set at up to £200 per hour in case the car is recovered to a London main dealer.



Is this advertising? I see no facts in this paragraph. Why the quotes around "Best used car warranty"?


In summary, please stop the 'wordy' advertising. 'We have complete faith' and 'the highest cover you can get' are examples of text with no substance, and may explain the reaction you are experiencing.

Please illustrate a real world example (I have no issue with you quoting my cover summary including the price), along with the promise I was given over the phone (namely if I keep the car until it exceeds 10 years of age, and continue my warranty cover, I'll still enjoy the conditions & price of my 06/60 policy).

Thanks for continuing the discussion.

Hi Still Learning

We'll get something together for you for the beginning of next week. I hope this isn't too much of a delay?

Thanks

 

[Still Learning]

No problem! TFI Friday. Have a good weekend.

 

[Rory]

Hi Alfie

We have single claim limits and a maximum claim limit for the life of the plan, which is the value of the car. The £2,000 you mention will be what we will pay up to on an individual repair claim, but you are covered up to the value of the vehicle for an unlimited amount of claims. Does this make sense?

Thanks
Warrantywise

The £2000 claim limit would be a show stopper for me. I just dug out my WD schedule to make sure, and the limit per claim is the value of the vehicle.

 

[Gkinghorn]

Well done for coming on and engaging as has been said.

You are selective about who you warranty therefore your risk averse as a firm. Not saying anything wrong with that ...

Quoting higher premiums , significantly reducing your risk by being very selective about the cars you take on and claiming to be the best somehow doesn't go hand in hand with actually being the best......you stacked the deck to some extent.

Pointing out the fact your competitors can't possibly make money out of what they offer is poor... Stand on your own actions but by all means do a direct comparison.

Perhaps you ought to directly compare facts ... And I can imagine that if you try to slant those towards your firm the members here will advise you of the facts...

I don't think we are a cynical bunch but I think you will find we have reviewed your market and your competitors and the fact so few of us chose you probably tells you something... Your competitors don't come here trying to convince us to buy their products... We buy them by referral from other members here ...

You need a dramatic review of your whole offering to compete with these other guys. Limiting claims to £2k is also so completely wrong .... Your prices don't reflect that ..you price as if you are paying for the whole car... Just bizarre...

Personally the more I think about your prices vs the claim limitations the more I think you are extracting urine from folks...

 

[whitenemesis]

"Claiming to be the best" ... Best is totally subjective and meaningless in this context.

 

[ALFIEBEARD]

If you believe you are the best in the business ......then why are there so many complaints about weasel words etc that Quentin said WW does not have in their policys.

Like Here: http://www.rac.co.uk/forum/showthread.php?15485-More-Warranty-woes

And these are not old complaints some are just a few months old!!!!!!!!

Alfie

No I will stick with my warranty provider who has never baulked on any claim made by me.
Car Care Plan

 

[Rory]

If you believe you are the best in the business ......then why are there so many complaints about weasel words etc that Quentin said WW does not have in their policys.

Like Here: http://www.rac.co.uk/forum/showthread.php?15485-More-Warranty-woes

And these are not old complaints some are just a few months old!!!!!!!!

I think that threead clearly demonstrates that most people have unrealistic expectations of warranty companies - most unlikley they'd pay for a clutch anyway, and why should they pick up the bill when the garage who originally fitted it has gone bust?

 

[ALFIEBEARD]

I can sort of understand the clutch scenario, Rory... but I notice no mention of the post by boshirali on page 2? .

I notice you have a warranty with WD who have more complaints than WW

Also the link I posted is only one of many, Try a quick Google on WW/WD.

Alfie

 

[Rory]

I can sort of understand the clutch scenario, Rory... but I notice no mention of the post by boshirali on page 2? .

WW picked up that the service recoed was incomplete and the poster didn't deny that.

I notice you have a warranty with WD who have more complaints than WW

I have, and, touching a massive piece of wood, I've never claimed. But if I do make what I consider to be a valid claim and I have any problmes whatsoever then they better batten down the hatches! Having said that there are a fair number of members on these forums who have had considerable payouts on multiple claims with WD.

 

[Warrantywise]

Hi all

We have posted this link already but just in case anyone missed - http://www.warrantywise.co.uk/car-warranty/how-we-compare/ - The common request we're getting here is to provide a direct comparison with our competition, with examples. This table provides such a comparison.

The key differences with our warranty are as follows:

A good example to discuss is our stance on betterment. If your car's condition or value improves as a result of repair, we require no contribution from you. Other warranties may only pay a certain percentage of the parts cost after the vehicle has reached a certain age or mileage. It's worth checking your documentation to see how you are covered in terms of betterment if you're not with Warrantywise.

Another example is consequential failure ie one part fails causing the failure of another part. This is also classed as the domino effect. Warrantywise customers are covered for this. I'd like to relate this to the oil seals query previously discussed in this thread. A CDI Turbo Inlet was mentioned, in relation to it leaking oil on to the swirl flap motor. Oil seals are included when causing a major oil leak (dripping oil) necessitating immediate replacement of the part in question. Now, if said oil leak from one part caused the failure of another part, as in this individual case, the part affected would be covered under our consequential damage terms. This would also apply to the other case mentioned in this thread, where the ECU on 7G gearboxes is damaged, caused by an oil leak. The leak itself wouldn’t be covered but the part damaged as a consequence of said leak would be.
It’s prudent to mention at this stage how it is always the customer’s responsibility to correctly service and maintain their vehicle, in line with the manufacturer’s recommendations. I have no qualms whatsoever that you all go over and above on keeping your prospective vehicles in tip top shape.

Another key difference with Warrantywise is the way we operate. We are classed as a service and maintenance warranty plan, rather than mechanical breakdown insurance. Historically we operated as a self funded coverholder at Lloyd’s of London, but are now independent, still utilising the same underwriting model required by Lloyds and ticking all the boxes required by the FSA. As a service provider we are now permitted to operate as a VAT registered firm. The benefit of this for our customers is that we don’t have to pass the costs associated with operating on an insured basis. We have no parent insurer to compensate, or IPT to pay, and can reclaim VAT on our overheads etc. We operate on a completely discretionary basis, ensuring you receive a fair and equitable resolution to every request you make. Standard insurers need to control their cost base easily, and policy wording can be dubious to say the least.
This link goes in to more detail concerning how we operate: http:// www.warrantywise.co.uk/about-us/how-we-operate/

We yesterday published our most recent happy customer feedback. Feel free to take a look: http://www.warrantywise.co.uk/happy/

I look forward to your questions!

Cheers
Rick – Online Marketing Manager, Warrantywise