QuestionHi Roger,
I saw an ad on TV for this company & visited their website.
Do you know anything about them & if it's a good company ?
I see that they are based overseas & that they have 83 BBB complaints !
Thanks !!
AnswerGood afternoon John,
since we don't sell Endurance Warranties I checked with 2 of my Service Managers and this is what they said:
- Endurance pays okay... Their adjusters are fairly quick and responsive and they generally had no problem with the company with one minor exception make sure you read the fine print because apparently they have limits they will pay for each type of covered item. For instance if your transmission goes out and it's up for thousand dollar repair they may only be willing to pay up to 2500 of it so depending on what kind of car you're insuring make sure it's enough coverage.
- 83 Better Business Bureau complaint seems like a lot to me but if you got tens of thousands warranties out there and with cars breaking down and people frustrated when they realize they don't have the right coverage or not enough coverage probably not that significant provided they have resolved those complaints somehow closed them out.
- I have never gone wrong sending people to a local credit union to buy extended service contracts. They are generally about 50% of the dealer price, the companies are solvent, and they pay quickly with few hassles. Don't squeeze the dollar so hard that you shortchange yourself.
Spend some time with google. You'll find that way too many people get ripped off with these warranties. You'll also find that many are very shady, changing names, or going bankrupt.
I'm not saying they are all bad or that people haven't had luck with them but COUNTLESS people have been ripped off badly. One of the biggest tricks they seem to use is "wear and tear" clause. They seem to deny claims (even with parts covered on the contract) by finding a ways to call it wear and tear.
Go to google and type in extended warranty (company name) complaints. You'll see many many cases of denied claims that are shocking
Here is what I look for when shopping for an extended service contract company:
1. Check the company's credentials.
One of the best ways to spot a scam is to look up the credentials and background of a company that offers the warranty. Look for a business that has a good BBB rating, positive customer reviews and has been around longer than five years. Beware of companies who have changed their name repeatedly or can only be contacted by email. Never give your money to someone who does not have a good reputation.
2. Don't give in to pressure sales.
No one likes being assaulted with a high-pressure sales situation. Examples of this are fast-talking salespeople that try to confuse you, deals that expire by the end of your phone call or if you are told that the deal will be off the table if you don't sign up now. Also, if the offer sounds too good to be true, it most likely is.
3. Don't buy over the phone.
As a general security measure, refrain from giving your credit card number over a phone line, especially if you have never met the person on the other end! You will never need to provide a social security number to receive a free quote, so if you are asked for yours, it is definitely a scam. Using the phone to speak with sales representatives to get answers to your questions or a quote on your vehicle is very convenient, but when it comes time to pay the bill for the warranty service, ask if you can pay on their website or if they take safe, verified payment services like PayPal. Avoid fraud and identity theft by protecting yourself at all times by using verified methods of payment.
4. Always get it in writing!
Never agree to an extended warranty without seeing the paperwork. If the company is legitimate, it will have no problem sending you the contract to review. Be cautious if the company says it never sends contracts until the customer has paid. That is a huge red flag that screams scam! When you get the contract, be sure to review it and ask the sales representative to clarify any point that you do not understand. Make sure that every detail of what is covered and not covered by the warranty is in the contract so there will be no surprises come repair time.
I hope this helps thanks for the question please make sure you fill out your survey and you can't give me perfect tens then please ask as many follow-ups as you need to until you can.
