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  #16  
Old 06-21-2002, 06:52 PM
MoreIBNR MoreIBNR is offline
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Beav - My experience has been that the companies are pretty upfront with what is covered and what is not. You don't even have to read the contract itself - it is spelled out in the sales brochure.

Most companies sell several different warranties - with and without seal and gaskets. Anyone who doesn't ask "Why is this one so much cheaper than that one?" and thinks he is getting the same coverage for 1/3 (or more) less, is a complete idiot.

If the salesman isn't disclosing, then that's a different story, but these warranties have been around for a long time and there is a lot of information available.

A stupid consumer who doesn't take the time to understand what he is buying deserves what he gets.

Every insurance policy and service agreement has lots of exclusions. They have to or the companies would either go broke or they would have to price the product so high no one would buy it.

As with any product, you have to buy the one that will do the job you want it to - whether that is a truck, a car, a tv or a service contract or insurance policy. If I buy a $50 black and white TV not knowing it won't show colors, whose fault is that?

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No more than the underwriters that use that clause are advocating that jerking the customer around is a fair business practice. They know damn well that 99% of the customers won't catch that when they peruse the contract in the 32 seconds they look at it at the dealership. I understand that not taking the time to read it fully is their fault, but how many do you expect to know enough, especially after being beat on by a few salesmen/women, to catch that, even if fully read? Sorry, but that's why I personally drop my morals and ethics down to their level. When you live by the sword, you die by the sword.

I realize that being in a somewhat related business you won't appreciate my insights on this, but if we all stood on the same side of the boat it would sink.
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  #17  
Old 06-22-2002, 12:05 AM
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Beav Beav is offline
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Apparently you don't see anywhere the number of these policies that I do. I see all sorts of them, on a daily basis. No I'm not an underwriter, an expert, nor, apparently, an advocate. However I am a reasonably intelligent person with what I consider higher than normal morals and ethics. The fact that the average policy consumes four+ pages of what is covered and what isn't should be a red flag.

I agree, caveat emptor. Never expect a fair shake from anyone that wears a suit and doesn't get his/her hands dirty. (Where's Abbie Hoffman when you need him? ) But realize that these contracts are sold basically by salesmen/women that haven't got a single clue as to what they cover, yet they are so willing to convince the consumer that there won't be any out-of-pocket expenses as long as they own the car. They explain that the only difference between the plans is the amount of the 'per incident' deductible. Good grief man, we had a poor schmuck in the shop the other day that had a plan that took six full pages to explain that if the original factory warranty didn't cover it, they wouldn't either! I again agree, he should have read it more closely. But it is indicative of some of the crap that's being marketed.

As far as sales brochures are concerned, at least in the automotive extended warranty arena, I have yet to see one that states the terms of the contract before you buy. Just like auto insurance, you don't get to read the full policy until you pay for it first. Gee, I wonder why they do it that way? There must be some advantage to them, it's certainly no advantage to the consumer. Then they send you your copy, you peruse it and decide whether or not to keep it. Most people are still weary from the brow beating they got at the dealership and won't even look at the policy until something breaks. By then it's too late and that's what the underwriters are counting on. I'm still betting that the average Jane/Joe still won't catch the importance of those exclusions, as they're not trained in mechanical repairs any more than the person that sold them the policy.

All I'm trying to say, in 50,000 words or less, is that the exclusions are unfair to those that are inexperienced. I think it is ridiculous to expect a consumer to have to involve a mechanic and a lawyer in a purchasing decision of this type. Tell me, who do we blame for this ridiculousness?

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A stupid consumer who doesn't take the time to understand what he is buying deserves what he gets.
Gee, I wonder how it feels to never be taken advantage of, to never make a mistake or be a stupid consumer, to be above all of this, to not be a trusting person, at least occasionally, and not to expect to be bent over every single time your wallet is open.
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Last edited by Beav; 06-22-2002 at 12:36 AM.
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  #18  
Old 06-22-2002, 05:57 AM
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BTW..

..this really doesn't belong in the forum. I apologize to all the others.
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  #19  
Old 06-22-2002, 02:32 PM
MoreIBNR MoreIBNR is offline
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Beav - I HAVE been taken advantage of more times than I am proud of, but when I went back and read or checked or whatever, and found that it was MY fault, my reaction is not to commit fraud, or steal from them who done me wrong. Return the item and get my money back? Certainly. But steal? That just isn't right!!!

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Originally posted by Beav
[ Gee, I wonder how it feels to never be taken advantage of, to never make a mistake or be a stupid consumer, to be above all of this, to not be a trusting person, at least occasionally, and not to expect to be bent over every single time your wallet is open. [/B]
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