Extended Warranty - The Hull Truth

Striper26 · 12-12-2003, 04:40 PM

Has anyone used "Pinnacle" for extended warranties? And if so, did you deal with them direct, or do you have to go through a dealer? I've searched but can't find their website. Any help is appreciated.

Thanks,

Dave

auguste · 12-17-2003, 06:02 PM

bump

. . . just thinking out loud . . . yes, I'm "Miss-Be-Haven"

" The only boat without a ding or four, is the one that never gets used!!! "

Miss Christine · 12-17-2003, 06:34 PM

One of the guys I fish with had a bad experience with them....e-mail me if you would like to know more...

Garett · 12-17-2003, 10:41 PM

I know this whole concept of extended warranties has been around for some time now. What raises my brow is: if it wasn't making money it would have been long gone. Therefore it is profitable enough to continue on.

Sure I've bought it for this that and the other thing, well no more - waste of money IMO.

If the unit in question hasn't died or been a royal pain while being covered under the factory warranty, the probablity of failing after the factory warranty is slim to nil.

On the other hand, if the unit in question is having all kinds of problems while it is under factory warranty, I would be looking to dump it fast while there is sellable warranty left - get out while the getting is good.

So now-a-days I will not spend the extra money (and that is not because I am cheap and want to save the all mighty buck either).

Merry Christmas to All

Bruce W · 12-17-2003, 10:45 PM

Was Pinnacle the company that took over the warranty program after OMC went under, but BEFORE Bombardier bought them (OMC)???

It just sounds familiar and I thought I remembered seeing their name on the back of some OMC-powered boats at a 2001 or 2002 boat show?

Curious?

Regards,
Bruce W

Striper26 · 12-18-2003, 03:47 AM

The only reason I'm thinking about it is I have a 2001 Ficht 250hp. It ran great for 150 hrs, and at the end of the season it blew the power head. It was an OMC P/H, the new one is by Bomb.
I don't think I could afford the $6000.00 or more to have it replaced if it happens again. Warranty runs out in March. The dealer uses Pinnacle, but they want $3000.00 for 3 additional yrs, or $3600 for 4 yrs. Plus he says theirs a $500 fee because I didn't buy the extended warranty in the first 6 months of the original warranty. He said that was Pinnacles fee.
I think the salesman is trying to make some cash in the slow season!!
Because of Ficht engine I think resale of the boat would be low. And if I did sell it in the near future, being under warranty would'nt hurt.
On the other hand it could run great for another 10 years. I wish I could see the future!!! But that first time engine hicups, whether it's May or October, if it's under warranty, at least I know my season isn't over.

Dave

cfwegman · 12-18-2003, 04:07 AM

Extended warranties are a huge profit center for businesses and as a rule should be avoided. If the product in question needs an extended warranty because it has a history of dropping dead as soon as the standard warranty ends chances are pretty good the price of the extension will reflect it. So basically, if the extension is cheep, you probably won't need it and if its high as a kite, well...

Product Engineer, SMITH Marine Products, 21 Seacat, 2500HD Duramax/Allison

Garett · 12-18-2003, 10:33 AM

Wooowwwwwwww, that's a serious chunk of change.

I think I'd be gambling on this one.....who's got the dice?

Merry Christmas to All

DOG HOUSE · 12-18-2003, 02:47 PM

If the cost of the warranty is over 50% of the worst case scenerio repair, invest the $3500, it's a better gamble.

Striper26 · 12-21-2003, 06:48 AM

I talked to the mechanic, and if I had to pay for the blown power head that they just replaced, It would have cost me $9300.00. Thats everything, from replacing fuel injector to the sea trial. Just the p/h alone was $7700.00!! So for piece of mind, I'm getting the warranty. Next boat will have inboards!!
Thanks,

Dave

glacierbaze · 12-21-2003, 03:12 PM

I have never heard of a penalty for not buying early. I would bet that the EW has language exempting them from any liability if the original is still in effect, so I think someone is trying to stick you. Ask to see the wording on the contract, if fact, ask for a copy of the contract to study. I bought EW's for my last 2 Suburbans because the original 3 yr/36000 coverage is gone in the first year, and you only have to purchase before 35,500 or 30 days left on original, or something to that effect. The first paid off at a fraction of what a transmission would have cost me, and I have not exercised my option on the second, yet. I get the price quoted at purchase written into the contract as an option that I can exercise at any time within the original 3yr/36,000.