Anyone have any experience with this? It is like an extended warranty, but supposed to be cheaper.
Multi-Risk is a package of coverages that includes Comprehensive, Collision and Mechanical Breakdown (MBI). This coverage protects you from expensive auto repair bills when your car experiences a mechanical failure. Multi-Risk is usually much more affordable than the Extended Warranty offered by your car dealership and in some instances covers more. Varying deductibles are available for the Comprehensive and Collision portions of the package; a $250 deductible applies to the Mechanical Breakdown. You should add Multi-Risk protection to your policy as soon after the car is purchased as possible. GEICO Multi-Risk can only be added if it is a current model year vehicle, the vehicle is less than 15 months old and the odometer reading is less than 15,000 miles, and you are the first title holder. Multi-Risk coverage expires once the vehicle is 7 years old or reaches 100,000 miles.
Qouting me $26 for a 6 month period right now. Expires in 7 years, have to buy while the vehicle is new. Seems like really cheap insurance, unless of course it doesn't actually cover anything. Since I exploded a Viper motor, extended warranties make sense to me. So 26 * 2 (semi annual) * 7 (years) = 364 (of course the price will go up)
So $364 for an extra 4 years of warranty coverage? Or is this just a scam. If you have experience with this, please let me know. fyi, my current GT coverage for 6 months is $700.
Multi-Risk is a package of coverages that includes Comprehensive, Collision and Mechanical Breakdown (MBI). This coverage protects you from expensive auto repair bills when your car experiences a mechanical failure. Multi-Risk is usually much more affordable than the Extended Warranty offered by your car dealership and in some instances covers more. Varying deductibles are available for the Comprehensive and Collision portions of the package; a $250 deductible applies to the Mechanical Breakdown. You should add Multi-Risk protection to your policy as soon after the car is purchased as possible. GEICO Multi-Risk can only be added if it is a current model year vehicle, the vehicle is less than 15 months old and the odometer reading is less than 15,000 miles, and you are the first title holder. Multi-Risk coverage expires once the vehicle is 7 years old or reaches 100,000 miles.
Qouting me $26 for a 6 month period right now. Expires in 7 years, have to buy while the vehicle is new. Seems like really cheap insurance, unless of course it doesn't actually cover anything. Since I exploded a Viper motor, extended warranties make sense to me. So 26 * 2 (semi annual) * 7 (years) = 364 (of course the price will go up)
So $364 for an extra 4 years of warranty coverage? Or is this just a scam. If you have experience with this, please let me know. fyi, my current GT coverage for 6 months is $700.
