extended warranty or not

[Teddy1]

Just bought an 04 43' Egg Harbor with CAT C12's, with 350 hours. Got a price from CAT for an extended warranty, seems rather expensive? For 24 months, or 1000 hours, aprox. 4,200. per engine, for 36 months, or 1500 hours, 6,700 per engine. Warranty would cover the same as if they were new. Plus there is aprox 2100. in inspections that would need to be done

Any thoughts?

Mike

[seavee1]

get chubb marine ins, they cover a lot of mech break downs. compare the policy and what they cover and compare.

[amarcafina]

Warranties aren't what they use to be!!

[Jeff42899]

My first question refers to your statement "like they were new". Are you referring to the first two years of the CAT warranty or the last three? There's a big difference. Having been involved with extended warranties for similar engines in the past, the numbers are not bad if they cover like the first two years of the manufacturer's warranty. Being it's from CAT, I would expect it would be a quality warranty, hence the $2100 inspection. Read it very carefully. I've been party to many new warranties for 3406E, 3196 and others that were in excess of $15k. The only other item in the small print that I can recall was the max payout over the life of the policy and per claim. Some were $20k per engine. That didn't go very far if there was a catastrophic failure.