Well, it was an expensive test... Kleemann had recommended the Exotic Warranty Company as a way to cover your modified components in case the dealer voided your warranty, and I went for it as many of you know. Here was the long thread from before:

https://mbworld.org/forums/showthrea...xotic+warranty

While I shouldn't be ashamed I went this route, it still is humiliating. After all, Kleemann was inserting their brochure in their send off package and recommended them to many people. Basically, after only 4 months of coverage, they were closed down by the Department of Financial Services in Florida... they weren't even LICENSED to sell warranties in Florida. They are in receivership now. So, all my money, poof, gone. Warranty canceled. I hope none of you went this route.

visit their website, which has been hijacked by Florida (phone too): www.exoticwarranty.com

@#$@!#% God damn @#$#@%%&**ers!

So let the I told you sos and laughing begin....



Loren

 

Loren,
Sorry to hear it. I'd contact an attorney asap.

 

The website said you might be able to get some money back...give it a try.

The extended warranty business seems riskier than other forms of insurance. Next time check out the company's financial health at: ambest.com

 

What does Kleemann say about this? They were supporting this company by installing brochures and obviously did their due dilligence to ensure it was a reputable company.

 

Loren,

Sorry to hear about that. Funny because i inquired about these guys a few months ago and almost pulled the trigger on them because of my K stuff. Hopefully there's a way you can get some of you money back.

 

Sorry to hear that dude. Hope you'll be able to recover some of your losses

 

Wow, that sucks bigtime, i'm sorry to hear that. Like some here have mentioned, have you contacted Kleemann about it? Maybe if you put some pressure on them they might bite. They did recommend them didn't they? I would consult an attorney about this, there has to be something you can do to get some or all your money back. Good luck.

 

Kleemann should have known better. It has been around in the engine performance industry for a long time now. I'll say Kleemann is as guilty as Exotic Warranty. Its not your fault Loren. This is just wrong. You guys who bought the warranty believed that this company is legit, thinking that Kleemann did do its homework in checking those guys out. I would second the motion of questioning Kleemann and if they did receive any benefits from this company or knowing that this company has no license in dealing aftermarket warranties.

 

Loren,

Sorry to hear about your trouble... I am sure you will be able to get your money back since the government stepped in on this issue.

 

Interesting.

Should I assume you do not sell Kleemann parts? I find it kind of funny that you are able to be Judge, Jury and Executioner with so few details.

Let's say you sold what you believed to be a legit new product from Evo, but four months down the road we found out that it caused irreversible engine damage. Would you assume responsibility for all the engines this part destroyed because "you didn't do your homework?"

Loren, sorry to hear of your misfortune.

 

If you buy parts from any reputable company like Kleemann & as Loren said, they recommend & insert the brochure for x company as an insurance provider able to cover your parts, they sure as hell better have done their homework.

 

I must have missed this because they never made this recommendation to me and I never received an "insert" with my paperwork.

 

Thank you MiamiE55. I rest my case.

 

Seriously get a Lawyer ASAP. You will get nowhere by handling it yourself. I have been there with Warranty Gold.

 

You could do all the homework you want,if a company go out of business ,who can you blame.I think when kleemann recommended that company they were thinking in the best intrest of those of us who were modding our cars,knowing that should we have an engine failure,it would be a costly repair,because it would not be covered by either MB or AMG.
It is said that these engines cost upward of $30K and we should be concern about hurting them,this is why Kleemann recommended added insurance to protect us of any misap.......unfortunately for Loren it did not work for him.Had it work we would be all jumping and shouting how great Kleemann is.
Instead of pointing the finger at Kleemann who was only trying to help,why dont we all think of a way in helping LOREN.
For the vast majority of you who use Kleemann products,i am sure that you will agree that you will never find a more helpful and knowledgeable guys than Corey and Brandon when it comes down to MB.Remember these guys represent Kleemann.........if these guys are allways so good and willing to help
why all of a sudden they are now bad?Instead of bashing Kleemann,call them and see if they can help,or lead you in the right direction.
Loren i am truly sorry this has happened to you,and wish things will work out for for you.

 

The warranty wasn’t to help us...it was to help sell their mods since they would only cover their work for one year. They said for years that they were trying to find a company to warranty their work...they did, and the company just didn’t work out.

 

yeah, its a couple year process... receivership basically slowly sells everything off and then divdes it proportionally among the creditors. What do you think the odds are they actually left money / income in a checking account. Bet you its long gone... and it won't be like they had many other assests. Phuckers.

I did a bit of research before I signed up... they were backed / underwritten by Fidelity Worldwide. Cool, right? No, its a dummy company set up to resemble the Fidelity we all know... basically, its the same company as Exotic. So, at first and second glances they seem legit. I asked more questions and did more searching that with most things, and still got wacked.

As for Kleemann, Cory was as shocked as I was... and rather than quote his emails here, let's just say he was very apologetic... they got a letter themselves a day later... and they weren't dealers. They merely pointed people in the direction after having talked to Exotic about their services ... even met with them... etc. And this because they said they'd "offer complete coverage for KLEEMANN modified vehicles" and thus give Kleemann a place to turn people who are concerned about warranty issues like I have been. I don't know where that puts me legally. Frankly, even if I had leverage with Kleemann USA, I don't think I'd push there. I'm much more of the type that would go to the source. If they offer me a token credit towards future work in good faith, that would likely be enough.

Finally, YES, everyone gets the Exotic Warranty packet with their receipt, hat, and Kleemann badge and shirt when their car is completed. If you didn't, then it was accidental. They've recommended them for a long time now... its how I heard of them.



Loren

 

a warranty is only as good as its underwriter, being the king of aftermarket warranties I know how to get the max out of the warranty. First make sure u buy the warranty by a good company with good underwriter from a legit warranty dealer. 2nd off, a warranty is only as good as your independent shop, if your shop is not close friends with you then u won't get alot of out it. I got $23,800 out of my Heritage warranty and that included a new motor and two transmissions. It was a pretty amazing warranty but only b/c my shop helped me out alot. if you know what u are doing extended warranties can really be an amazing resource.

 

The juicy details are in f-chat:

http://www.ferrarichat.com/forum/sho...d.php?t=102526

 

This just drives the point home that the only warranty worth a damn is the OEM manufacturer's.

 

Amen