Extended Warranty for my Bu

[rushman]

I have an 2003 Sportster LX, bought new in 2004, Monsoon 340 hp (long story). Factory warranty is up in about 4 months. I can still purchase an extended warranty on the boat and get an extra 4 years from a company that deals in extended warranties. The cost is about $1500.00 CDN ( so say about $1250.00 USD).

It is supposed to cover pretty much everything for another 4 years. I would obviously be most concerned with the engine, transmission and electrical stuff.

What do you think. I've always been a little leery of extended warranties but the boat is a big expensive toy that could cost a ton to fix. I had major problems with the original engine but since the new monsoon went in, it is awesome. The company that I can get this warranty through is IWS (Integrated Warranty Systems Inc.) Anyone heard of them or use them?

Any suggestions/comments would be appreciated.

Kevin

[88Skier]

What's the deductable, and what isn't covered?

[jphillips]

rushman, which dealer are you working with to get the extended warranty? Depending on what you get I might be interested in extending my warranty for 4 years for $1500, mine is up in April.

[doughickey]

How many hours do you put on your boat? What's the repair history on your boat been like? WHO would do the warrenty work? (Would you be able to ensure it's gone done by that new group of 5 Malibu dealers here in Ontario.... or would the warrenty company have a separate private mechanic do your work.)

A different view.

I've had my 98'RLX for 3 summers. Bought it at 320 hours. Only put on about 40 hours (Canada eh!) per summer since. The only work that was needed over those 3 summers that I THINK would have been covered by warranty are: Replaced a shredded water pump pulley Cost about $300 parts & labour. Replaced a hose from the tranny to the water cooler. Parts only $20. All that to say, in my case, history says the $1500 would have been a waste of money. But that's based on 4 years = 160 hours. That's like $10/hour for warranty coverage. Kinda steep.

However, you have an EFI. If a computer goes bad..... or your injectors get gummed up..... but wait.... is that covered under extended warranty??? 88skier asks a very critical question.... namely, what's covered, what's not, and what's the deductable?

I also hate warranties..... but if you can get 4 worry-free years for $375 per year...... that's pretty cheap peace-of-mind. Especially if you do lots of hours, have lots of electronics, and have had a history of engine problems, or have a fairly new motor installed. If you are doing lots of high rpm running (footing) or like to run a lot near full throttle, or weight the living daylights out of it (doesn't make sense in a Sporty) and hammer the throttle from idle, or think you are "hard" on the engine..... hmmm... might be a good idea.

[Chia]

if you are planning to sell it in the next few years, it is always a good selling feature to have warranty. It tells the buyer there is nothing major wrong with the the drivetrain or he would have had it repaired under warranty.

[rushman]

Good questions,

88Skier... Deductible is $100.00. What's covered...Basically everything in the engine (ie. circulatory water pump, crank, cam, rods, pistons, gears, etc.etc.), Lubrication system (oil pump, gears etc.), Transmission (bearing, gears, shafts, cases), Electrical (alternator, armatures, CDM module,distributor, starter,harness, horns, sensors,etc,etc.), Steering (control helm,rack and yoke,steering cable, etc.) Controls and instruments (Gauges, shifter,switches, shifter cable, etc.)

What's not...acts of God, stuff used for competition, racing etc. normal wear and tear stuff like belts, fluids, batteries and bulbs. Also says manufactures maintenance must be keep up to date but my dealer said that is no big deal. ???. Doesn't really matter though, the boat is well maintained and I am meticulous about it.

Jphillips

The warranty is through IWS, out of London, Ontario, 1 800 862 7164. Call them and they can give you a name of a dealer that can sell it to you. Then check with your servicing dealer now to see if they can honour it. The company said anyone can fix it as long as they sign up with them. Sun and Ski has been my dealer. Team Malibu Ontario says they can do an extended warranty too. So for me, If I get this warranty (which I am leaning towards) I might find an indmar dealer closer to deal with that kind of AND USE THE NEW Malibu dealers for the gauge and electrical stuff??? I don't know.

Doug

I put on about 60 hours a year. I foot, so yes it is driven for footing. It is always going from 0 to 42 mph. It works perfect now after the new engine. But I am right now having a problem with the MMDC (controls all the gauges) and is still under manufactures warranty so I how to get that straighted out before summer. The warranty claim has been in the works so I know that's covered. But that being said, I don't think I would want to buy one. It looks expensive. I have an extra "season" (6 months) warranty on the new engine from Indmar so the engine is covered for this summer coming but not the rest of the stuff.

Thanks for your replies.

Kevin

[SacRiverRat]

Would you bring the boat in for all service work, or would you be able to do some minor repairs yourself?

If you always use a mechanic, might make more sense, because of the labor cost. I do all my own service, so I'd really only be out the cost of parts

The extended coverage is a good deal (for those selling it) that is why they sell it. Just need to think about what could go wrong with your boat, in the next couple years that would be covered... and how likely it would happen.

I say you have less than 50% chance that you'd have more than $1200 worth of work done (not to mention the $100 deductable). Not worth it in my book

[jphillips]

rushman, thanks for the info. What about cosmetic stuff and such, cushion covers (known to go quickly... I already had two replaced), paint, does it cover the triler as well?

[SacRiverRat]

cushion covers (known to go quickly... I already had two replaced)

What are you doing to your cushions to need to have 2 replaced in 2 years?

[jphillips]

Nothing, both the 04 VLX in the neighborhood had the cushions falling apart at the seems, where the beads meet the main cushion area. It was just begining on mine but my warranty is up in the spring so Bu is fixing them over the winter.

[wienrdog]

I always look at extended warranties this way... You know that the warranty company will be making a hefty profit. So that means either that you are recieving the benefit of many other's payments or you are paying for someone else to get the benefits. Since the company is making a profit, more people are paying than are getting the benefit. The question comes down to can you reasonably afford to repair what is covered during the coverage period without the warranty? If so, skip it because it's highly likely you will not get US$1,250 back over 4 years. If you can't afford that, get the warranty because the consequences of not fixing it are that you won't get to use the boat. Overall, it's a nice way limit near future expenses and gain some peace of mind that you won't have to B.O.A.T. (Break Out Another Thousand), but you will most likely not get your money's worth.

[rushman]

Thanks everyone for replies and opinions,

I recently found out that if I was to purchase the warranty from this company then i would YES have to have the boat maintained by a "authorized" dealer from that point on. That means than NO I could not do my own oil changes, winterizations and such. Any major work I would have done at my dealers but the routine stuff I do myself. I like doing it, I am meticulous when doing it ( I think way more so than the busy dealer would be) and it saves me from driving it 3 hours + to have that routine stuff done. So if I can't do that anymore, I don't know about the warranty. Anyways, some good points have been raised. I am leaning towards not getting it but who knows I might at the last minute.

Jphillips

...I don't see upholstery covered. I found out their website. www.iwsinc.ca if you want to check them out.

I haven't even gone to the website yet.

Kevin

[jphillips]

If I have to continue taking my boat to a dealer to have the oil changed and winterized I am not interested. So far every time someone else has touched my boat, I have had to fix or clean up after them... Lucky I always double check their work. Plus it is 5 hours to the dealer, that's $100 each way in tow and a day to get there and back... Think the attraction/idea just fizzled.

Rushman thanks for the info. You headed to wake stock? I have a room booked already at the Harbour Front.

[rushman]

If I have to continue taking my boat to a dealer to have the oil changed and winterized I am not interested. So far every time someone else has touched my boat, I have had to fix or clean up after them... Lucky I always double check their work. Plus it is 5 hours to the dealer, that's $100 each way in tow and a day to get there and back... Think the attraction/idea just fizzled.

Rushman thanks for the info. You headed to wake stock? I have a room booked already at the Harbour Front.

I totally agree with you. When I do any maintenance on my boat I take extra care (actually anal care) when I do it, not to get anything dirty or screw anything else up. I can't (wouldn't) do major stuff but if the warranty company is that serious about the maintenance issue, it sounds like they could have lots of "outs" if a repair had to be done.

As far as Wakestock, no I wasn't planning on going. I've never gotten into the wakeboard thing yet. I am completely addicted to barefooting. I hear Wakestock is awesome here though. I'm sure you will have a good time.

[BOMOD]

Keep in mind, there are two kinds of extended warranties. The exclusive kind and the inclusive kind. The inclusive lists all that is covered (and does not cover anything else). The exclusive lists what is not covered (and includes everything else).

What is the difference? If it is not listed in the inclusive type you are out of luck. What is not listed? It is up to you to make sure it is all there. What if something that is not included breaks and causes damage to an included part? Will they cover it?

Inclusive warranties can look good but they better be backed by a REAL quality company. Your pocket depends on it.

Good luck!