Geico and Mechanical Breakdown Insurance

[Donald]

Geico offers mechanical breakdown insurance for $30/yr for new cars. Or at least for my Forester its $30/yr. This covers mechanical things that break, not things needing routine maint. like brake pads, tires. Its more than drive train however. Obviously my Forester has has a warranty, and Geico knows that. They drop this coverage from your policy once the vehicle is 5 years old or 100K miles. I think my warranty is 3 yr, 40K. In 5 years I would pay $150.

On my Forester, I doubt there will be any engine problems before 100K miles, but unsure about the longevity of the CVT.

I am on the fence.

 

[CT8]

What exactly is the coverage?

 

[dishdude]

$150? No brainer. MBI is a great service GEICO offers. I'm usually not a fan of extended warranties, but at that price I'd go for it!

 

[Donald]

Originally Posted By: CT8
What exactly is the coverage?


From the Geico website

Mechanical Breakdown Insurance (MBI) is an insurance coverage that pays for repairs to your vehicle (excluding routine maintenance and normal wear and tear). GEICO's MBI coverage...

 

[benjamming]

If that is all the detail they provide, then no way. What are the exclusions, do you have to take it to their shop, do they pay for tow, does it have to cause loss of use of vehicle, do you have to use OEM parts during maintenance (an insurance company has a lot of freedom here unlike the manufacturer), will they ever use OEM parts or typically aftermarket, etc.?

 

[BobsArmory]

Yep, look at the fine print. You might find little exclusions like only mechanical fuel pumps are covered etc.....

 

[Donald]

Originally Posted By: benjamming
If that is all the detail they provide, then no way. What are the exclusions, do you have to take it to their shop, do they pay for tow, does it have to cause loss of use of vehicle, do you have to use OEM parts during maintenance (an insurance company has a lot of freedom here unlike the manufacturer), will they ever use OEM parts or typically aftermarket, etc.?


There is more to it than that, but there seems to be a website error in getting to the full text.

 

[doitmyself]

Originally Posted By: Donald
Originally Posted By: benjamming
If that is all the detail they provide, then no way. What are the exclusions, do you have to take it to their shop, do they pay for tow, does it have to cause loss of use of vehicle, do you have to use OEM parts during maintenance (an insurance company has a lot of freedom here unlike the manufacturer), will they ever use OEM parts or typically aftermarket, etc.?


There is more to it than that, but there seems to be a website error in getting to the full text.


Man, my brief Google search of the topic turned up positive results. At this point, it seems too good to be true. Donald, most other sites list the cost as more than yours ($80 to over $150 per year, which is still a bargain compared to extended warranties).

https://www.geico.com/auto-insurance/mechanical-breakdown-insurance/
https://www.geico.com/claims/claimsprocess/understanding-mechanical-breakdown-claims/

It is insurance, not an extended warranty. Unlike a warranty that list what's covered, the Geico insurance has a very short exclusion list:

Exclusions to this policy include regular maintenance services such as tune-ups, suspension alignment, wheel balancing, filters, lubrication, coolant and fluids, spark plugs, brake pads and linings, brake shoes, and tires. Also, breakdown repairs made necessary by intentional damage, corrosion, misuse, or improper maintenance are not covered. Mechanical Breakdown Insurance coverage is in excess of coverage provided by your manufacturer's warranty.

There are some conditions: $250 deductible per item(i.e.-radiator and alternator), only (very)new cars (some sites debate this), your mfg. warranty precedes this. You are stuck with Geico, so if they ramp up your insurance rates........

Work can be performed at any facility, but must be pre-authorized through the claim process (no big deal).

I'm embarrassed to say that I never heard of MBI. Other companies offer it also. My drivetrain is covered to 100K/5 years, but I worry about all the computer stuff. One computer replacement could easily cost over $1,000.

Donald, please recheck that your $30/year quote is correct. Can anyone find a negative about this insurance?

 

[Donald]

Originally Posted By: doitmyself
Originally Posted By: Donald
Originally Posted By: benjamming
If that is all the detail they provide, then no way. What are the exclusions, do you have to take it to their shop, do they pay for tow, does it have to cause loss of use of vehicle, do you have to use OEM parts during maintenance (an insurance company has a lot of freedom here unlike the manufacturer), will they ever use OEM parts or typically aftermarket, etc.?


There is more to it than that, but there seems to be a website error in getting to the full text.


Man, my brief Google search of the topic turned up positive results. At this point, it seems too good to be true. Donald, most other sites list the cost as more than yours ($80 to over $150 per year, which is still a bargain compared to extended warranties).

https://www.geico.com/auto-insurance/mechanical-breakdown-insurance/
https://www.geico.com/claims/claimsprocess/understanding-mechanical-breakdown-claims/

It is insurance, not an extended warranty. Unlike a warranty that list what's covered, the Geico insurance has a very short exclusion list:

Exclusions to this policy include regular maintenance services such as tune-ups, suspension alignment, wheel balancing, filters, lubrication, coolant and fluids, spark plugs, brake pads and linings, brake shoes, and tires. Also, breakdown repairs made necessary by intentional damage, corrosion, misuse, or improper maintenance are not covered. Mechanical Breakdown Insurance coverage is in excess of coverage provided by your manufacturer's warranty.

There are some conditions: $250 deductible per item(i.e.-radiator and alternator), only (very)new cars (some sites debate this), your mfg. warranty precedes this. You are stuck with Geico, so if they ramp up your insurance rates........

Work can be performed at any facility, but must be pre-authorized through the claim process (no big deal).

I'm embarrassed to say that I never heard of MBI. Other companies offer it also. My drivetrain is covered to 100K/5 years, but I worry about all the computer stuff. One computer replacement could easily cost over $1,000.

Donald, please recheck that your $30/year quote is correct. Can anyone find a negative about this insurance?



Its not a quote, I have the coverage for my Forester. I have always been curious as to what it covers and so I now know. $30/yr for my 2015 Forester. Maybe a Mercedes would be more.