Experiences with Mecury Platinum contract?
03-28-2008, 02:23 PM
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Experiences with Mecury Platinum contract?
I finally decided to go with Mercury Platinum since it seems that they are the only solid one that I qualify for. Does anyone have any good/bad experience with them?
03-28-2008, 04:25 PM
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I know my dad's office has sued them a few times for clients who they've stiffed, and the internet is littered with complaints about them. From what I understand, GE Warranty Co. and Chrysler Service Contracts are the only two aftermarket warranties that are close to being as good as a factory warranty. All the rest are just varying shades of bad.
The aftermarket companies tend to treat warranty claims more like negotiations. FWIW, I would figure they're like any other insurance company, and they have a knack for figuring out who will challenge them and wind up costing them more money, and who won't. Thinking along those lines, I figure they will hassle a guy with a $40k mercedes a lot less than the guy with a $10k exploder, because they know you can fight them if they screw you around.
In any event, I would imagine it has to be better than having no coverage at all.
The aftermarket companies tend to treat warranty claims more like negotiations. FWIW, I would figure they're like any other insurance company, and they have a knack for figuring out who will challenge them and wind up costing them more money, and who won't. Thinking along those lines, I figure they will hassle a guy with a $40k mercedes a lot less than the guy with a $10k exploder, because they know you can fight them if they screw you around.
In any event, I would imagine it has to be better than having no coverage at all.
Last edited by CWW; 03-28-2008 at 04:28 PM.
03-28-2008, 04:45 PM
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I know my dad's office has sued them a few times for clients who they've stiffed, and the internet is littered with complaints about them. From what I understand, GE Warranty Co. and Chrysler Service Contracts are the only two aftermarket warranties that are close to being as good as a factory warranty. All the rest are just varying shades of bad.
The aftermarket companies tend to treat warranty claims more like negotiations. FWIW, I would figure they're like any other insurance company, and they have a knack for figuring out who will challenge them and wind up costing them more money, and who won't. Thinking along those lines, I figure they will hassle a guy with a $40k mercedes a lot less than the guy with a $10k exploder, because they know you can fight them if they screw you around.
In any event, I would imagine it has to be better than having no coverage at all.
The aftermarket companies tend to treat warranty claims more like negotiations. FWIW, I would figure they're like any other insurance company, and they have a knack for figuring out who will challenge them and wind up costing them more money, and who won't. Thinking along those lines, I figure they will hassle a guy with a $40k mercedes a lot less than the guy with a $10k exploder, because they know you can fight them if they screw you around.
In any event, I would imagine it has to be better than having no coverage at all.
But regardless what the case may be, the broker who sold me the contract said that I have 30 days to cancel the contract AFTER coverage begins. So that should at least buy me 30 days of hassle free coverage. Hopefully I can juice that for all it's worth.
03-28-2008, 05:11 PM
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Well that's good to hear. The main reason why I chose Mercury is because they are a public company trading at $43 on the NYSE. This makes me more confident that they have the money to pay claims. That they're publicly traded also gives them more of an incentive not to do anything stupid that might make their stock plummet.
