I don't have a comment on the package the dealer is offering. However, from experience, I will advise you to LEARN that the rear of your FT is wider than the front. One can scrub the rims on curbs at tight turnings, like parking lots.

 

As with all insurance, in addition to your expected loss coverage, you're paying for the administration and marketing fees of the policy. Oh, and don't forget that you're throwing yourself in a risk pool with people who will worry less about their wheels if they're insured. The insured pool may also be more particular about when they've suffered (created???) a loss and want it fixed under the insurance.

Think carefully about all insurances that are not catastrophic coverage or required - there's a lot to be gained by saving the funds and self-insuring this type of exposure.

Desert Hiker

 

Yup
Thats why they try to find new things to insure.
I remember when they were selling travel insurance- till it was mostly outlawed
AT&T was prosecuted for selling insurance for wire.

If you understand the insurance racket, you will find the way to win is do what they are doing- take on the risk.

 

Hi,
I had the same run around with the financial manager when I purchased my SVR which of course has 20 inch forged wheels. Dealer wanted $1475 + tax. Quoted the same horror stories you guys got. Initially I thought it a good idea because here in New Jersey the roads are abominable! Of course when you're buying the vehicle and settling all the paper work and getting all the fanfare you don't really have time to think straight, so when I got home I read the contract very carefully and there were some many clauses about who's interpretation it was as to whether the wheel could be fixed or replaced if damaged in a pot hole. Then there was language about having to have somebody inspect the damage and authorize repairs or replacement and having to take it to an authorized facility to be checked out! And I'm thinking I'm in the middle of no-where with a damages tire/wheel and now I have to get somebody to advise me of the next steps. The whole deal just smelled of a con somewhere down the line and so I approached the dealership to cancel the contract (was within the 30 or 90 day cancellation period). Getting the funds back took months and plenty of phone calls.

In winter I change to Winter Tires and they're much more compliant/forgiving than the summer tires are with bad road conditions. Plus I try not to drive the vehicle in really bad weather/snow - really hard to do because I love driving it all the time!

 

You're almost always better off (long term) to avoid these kinds of insurance policies for the reasons Q&C has mentioned. Reminds me of a conversation I had in Vegas once; I was at a conference and an associate asked me why I wasn't gambling... I responded by asking him two questions; how much do you suppose this Hotel cost to build? and where do you think that money came from?

;-)

Dave

 

DPelletier,
There is a saying- Vegas wasn't built by the winners.

 

 

Is your wife or GF driving your car at all?

 

A distinction lost on many, although not exactly gambling vs. paying for useless insurance, but certainly gambling vs. eating or attending some event or other form of entertainment.

 

 

OK guys, the analogy may not be perfect but the point is that both of these things (gambling and insurance) survive ONLY because they take in FAR more than they pay out. ;-)

Dave

 

Your analogy is spot on.
Do you know the only difference between gambling and insurance?
Gambling by law has to pay out and it cost a fortune to keep gamblers gambling.
Insurance does not have to return any of the money- Thats why every other ad on tv is an ins ad, which they spend billions on- Vegas could never afford to do that.

Gambling and Insurance are the exact same thing- clever folks who calculate the odds, and depend on their prey not doing the same.
No one asks, if wheels get damaged so often, how can they afford to insure it. Or how can Vegas keep spending so much.

 

Have you guys heard of the Dead Donkey Raffle?

A guy needs to dispose of a dead donkey.
So he holds a raffle, gets 100 folks to buy $10 tickets.
The winner complains, hey this god damn donkey is dead.
He is promptly returned his $10.
And so Lloyds of London was born.

They will take your bet on absolutely anything, just like the bookies.

 

Hi jaguny,

I intend to drive the car all year round maybe 3000 miles (~4800 kilometers) per year. If the weather is bad I will stay home.

My dealer is in Williamsville.

Regards,
Bill

 

 

Hi tzoid9,

I just sent you an email via this website.

Bill

 

 

Sooo...how many of you, who can afford to drop cash for a new car, decided to forego comprehensive and collision insurance? I'm willing to pay a premium (double entendre intended) to limit my losses.