[chenry]

Sharing this in case any of you presently have Geico MBI…yes they cover CBU…
Ps-not a commercial for Geico – but I am a very satisfied customer and I think others can benefit…

Just picked up my car from Sterling BMW in Newport Beach CA after dropping off my dealer supplied BMW loaner…car had been running a little rough for a while and it was determined that at 75K miles it needed CBU cleaning, a new motor mount and a new exhaust backpressure sensor….total charges…just under $3k….my out of pocket $250!!! Thanks, Geico!!!

The experience was no different than if it was covered under factory warranty…drop car, get BMW loaner, pickup car when complete

So, I’ve never been one for extended warranties – but I have to share that Geico ‘s MBI coverage (mechanical breakdown insurance) has been nothing but fantastic for me and my 2011 335D MSport. So, that’s the good news – the bad news is if you don’t already have the coverage you’re not going to be able to get in that it has to be placed on your policy when your car has less than 15k miles and/or is less than 15 months old (and you have to be the original owner I believe) …. but keep it in mind for your next car! I’m looking at swapping the 335D for a 535D so it’ll probably come into play for me again soon.

So here’s the deal…for me it is
• 7year/100k coverage
• $9.00 per month and carries
• $250 deductible per visit…
• You do start paying while your car is still under factory warranty – so there is a sunk cost but for me that was 42 months x $9.00 or a total of $378 until my factory warranty ran out and MBI kicked in – now I just continue to pay $9.00 per month – not bad all things considered
• I used it one other time for an issue with a steering rack and same experience; easy breezy
• Coverage is transferable to new owner at $9.00 per month when I sell the car as long as the vehicle will be insured by Geico

That’s about it – the coverage has cost me to date roughly $500 plus two visits at $250 each (deductible) so $1000 out of pocket total for $5000.00 in repairs– and all repairs have been done at the dealer. Now the coverage is good at indy shops as well so had I gone that route my calculated benefit would have been less but I would still be money ahead – not to mention the peace of mind for the new owner that buys the car – when I get around to selling (plus it’ll help the value of the car - in that new owner can choose to have the coverage)

ps-Ive used the coverage at two dealers and the experience was exactly the same at both and the SA's said it was super easy for them to deal with

Hope this helps…

[Greck]

cool)

[whichchris]

good to know for the next car. Thanks!

[mefferso]

Thanks for the report!

I'm surprised its transferable to the next owner. Is that regardless of who they use for car insurance or do they have to use GEICO?

[powellrm]

dude mad props for posting this-great idea and great insurance coverage. this is a definite option for the next car i buy. wowzers.

[BB_cuda]

Geico found a way to keep the normal car insurance by waving the MBI candy. Presuming you can't continue the MBI w/o the normal policy. Some people like to jump from company A to company B to keep the policy cost down. I been with State Farm since 1990 and yes I'm lazy (and easy money).

[chenry]

Originally Posted by mefferso

Thanks for the report!

I'm surprised its transferable to the next owner. Is that regardless of who they use for car insurance or do they have to use GEICO?

yes they would have to cover the car with Geico

[335dlci]

That warranty only is good up to 100k. Must be purchased when car is new aldo.

[chenry]

Originally Posted by 335dlci

That warranty only is good up to 100k. Must be purchased when car is new aldo.

yes for sure 7 years from the time you put the coverage on your Geico policy or 100k miles whichever comes first. However "new" in terms of this policy means within the first 15 months or 15k miles of ownership / again not a commercial for Geico...just want to ensure that we are sharing accurate information for those that are interested

[335dlci]

Originally Posted by chenry

yes for sure 7 years from the time you put the coverage on your Geico policy or 100k miles whichever comes first. However "new" in terms of this policy means within the first 15 months or 15k miles of ownership / again not a commercial for Geico...just want to ensure that we are sharing accurate information for those that are interested

I'm sorry but I have never been a fan of geico. working at the dealership for many years, I have had to do insurance claims with geico and they were known for bringing used parts for repairs... no thanks.

[Capn Crunch]

I used to work for GEICO. The MBI is no joke. I have seen them cover a $28,000 MB engine for a $250 deductible. No other auto insurance offers it that I know of, but my credit union offered it when financing. I need to call them and check out what theirs covers, the cost, and deductible. Check with your financial institution to see if they offer it... Seeing as how if you dont already have GEICO or the coverage through GEICO you would not be able to obtain it due to the car being older than 15 months from new.

[Puerto Rican 335d]

Kudos for you and Geico