Best extended warranty?

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Beechtree

Member
Joined
Jan 27, 2019
Messages
8
Location
Lincs/Notts borders, near A1
First post....I have just bought a November 2014 Gx4h and take delivery on Thursday. Car has full history and 90k miles. I want to take out an extended warranty for the car covering the next two years; has anyone got advice for the best (UK) provider that will include the EV drivetrain as well as all the normal components? I am not looking for the ultimate or most expensive but something that will provide a very reasonable level of warranty payout should I encounter any problems? Thanks!
 
Speaking as an actuary working in insurance for 25 years of my career, the first rule (for customers) is: "never insure for a risk you can afford to bear yourself". Insurance companies (and that includes extended warranties) are in business to make a profit. The cost of taking out such warranties is always going to be greater than the expected risk (unless you know something the insurer doesn't, in which case you're expected to declare it!) Sometimes you may be able to find a 'loss leader', usually offered through the original manufacturer as an inducement to purchase, but generally you're looking at spending more than you'll gain.

Of course, if you (like most of us) couldn't afford to pay for the cost of rebuilding your house, you should insure it against destruction - but I imagine most of us running a PHEV can afford to pay for repairs.
 
Over 4 years old and 90k miles - would think you are going to pay quite a lot for that sort of risk, especially on an "unknown" type of car - i.e. not much data for plug in hybrids yet of that sort of age to base premiums on. :?
 
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