Hi everyone, sorry I have not been spending much time on the board lately.
I can chime in with a few comments, I have over 200 M5/M6 cars under various plans and companies now, and hundreds more of AMG Benz, Jaguar, Porsche, etc.
1. You ONLY want exclusionary coverage for your Beast. If the contract names what IS covered, then it is NOT an exclusionary contract. An exclusionary contract only names what is NOT covered (excluded). Because of how many parts there are on an M-car, even the best inclusionary contract leaves a lot of holes. Of course, if your car due to mileage does not qualify for exclusionary coverage, then maybe consider a lesser plan, but if it does qualify, get the exclusionary plan. There is simply no point to saving $1200 on a lesser plan, and then over the life of the plan paying $3K out of pocket for stuff that was not covered. I will only sell you exclusionary coverage if your car qualifies, as I got tired of people hating me and saying "Why didn't you talk me into the more expensive coverage???" when uncovered claims arise.
2. The warranty company is probably the most important thing to consider. Look at it this way; the best plan, at the lowest price, for the longest term, is meaningless if the warranty company is shady and fights claims, goes out of business, or whatever. Lots of companies in this industry makes lots of claims; it's pretty much unregulated and they say what they want. My job is to do the legwork, reasearch, interviews, etc to make sure the company is properly run and insured, and provide coverage from Tier I companies. While I can't predict the future, I have never had a major problem with any of the companies I represent.
3. This industry is divided into three tiers of companies. Tier I is the big well-established players like Fidelity, AmTrust, Zurich, EasyCare, and a small handful of others. All are good companies, although there will be differences in coverage and price. Tier II is still decent companies, but ones that may be a little more aggressive in cost management, meaning they want to send in their own parts, have customers go to independent shops rather than dealers, etc. There are dozens in this group. Tier III you want to stay away from. Their contracts have giant loopholes allowing them to 'legally' avoid paying legitimate claims, they are not properly insured, etc. Direct Buy Warranty (DBW) is one of the biggest offenders, but there are even companies like Fidelity Automotive Solutions that try to mimic the name of the GOOD Fidelity company to fool people. Be VERY careful in this group, and check with me prior to buying something so I can tell you if the warranty company is good or bad. I may not sell you a plan, but I know not everyone will buy from me and I have no problem just giving free advice. I think there is a thread on here from a year or so ago when I saved a group of M5Board members from doing a group purchase with Direct Buy Warranty!! That would heave meant ten people each taking $3K+ and lighting it on fire.
4. No one covers the clutch components in a manual trans car, or the clutch components in an SMG car that are shared with the manual trans car. That means the pressure plate, flywheel, friction material, throwout bearing, etc. Some may goodwill it from time to time, but all companies exclude those parts in their contracts. What you want to make sure IS covered is the SMG pump in an SMG car; that's the big 'gotcha' with these cars.
5. The good ole' days of $3000 for a long term exclusionary contract on an M5 are over, at least from the companies that are any good and intend to pay claims. They've seen the claims history on these cars, and raised prices accordingly. Fidelity in particular has surcharged the M5 pretty hard, Zurich's and EasyCare's prices on higher mile M5's will give you a nosebleed, and NAC has dropped the M5 from eligibility completely. It's not getting any better, so if you plan to keep your car a while, get in while you still can.
6. I provide plans for the Beast from Fidelity and AmTrust. AmTrust is cool because if you don't drive a lot of miles, I can customize the plan. Meaning, if you tell me you plan to keep your Beast for 3.5 years, and drive 6K per year, I can get you a quote on a 42 month, 21K mile plan. This way you're not paying for time or mileage that you don't use. Both are Tier I companies, and have been selected by a manufacturer to run their extended warranty business (Fidelity by Audi, AmTrust by Volvo and Mazda) which is a very strong endorsement.
As always, feel free to call or email for quotes and general warranty information. I think you'll find my reputation here, on MBWorld, Quattroworld, ebay, and elsewhere is very good. I may not always be the cheapest, but in this business, beware of the cheapest company. And I am here AFTER you buy the warranty as my clients can verify. So if my plan costs $500 more than someone else's, but two years from now I intervene on a claim for $4000 and get it paid for you, that makes my plan a LOT cheaper.
Becks Imports LLC
P.S. Let me apologize in advance if I am slow in returning quotes/calls/emails. I am a one-man operation and also am a licensed used car dealer (need a great used car, any make/model, carefully selected and inspected, for 5% over wholesale cost? Contact me for info), so I am always running around and not always in the office.