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Should I extend electronic warranty and basic warranty?

2262 Views 3 Replies 3 Participants Last post by picstart, Sep 14, 2018

KiadeNiro

Discussion Starter · Sep 14, 2018

I am being sold a WRAP warranty that will extended my current factory ELECTRONIC/DASH and BASIC warranty to the entire 100,000 miles/10 years. Do I really need these things? My sales person is saying that since I have a hybrid plug in, there are more electronics involved so it's better safe than sorry.

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FlNiro

· #2 · Sep 14, 2018

It's really up to your comfort level. If you decide you want an extended warranty do your self a favor and check with Troy Dietrick first. He sells all kinds of warranties cheap even though he's at Toyota of Greenfield he can sell you a warranty for your Kia. Call him at 413-772-0989

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KiadeNiro

Discussion Starter · #3 · Sep 14, 2018

I can't make up my mind cz I don't know much about Kia's electronics and dash reliability. Idk if I should be okay within 3 years and that if nothing happens then, I should be good for 7 more years.

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picstart

· #4 · Sep 14, 2018 (Edited)

Statistically electronics fail quickly ( within 90 days) or if they survive then they are usually sturdy and last ( approx 10 years). This assumes normal factors..no lightening strikes etc that would stress the components. In the past it was electrolytic capacitors that failed at the 10 year point, today ceramics are used a lot so maybe 10 years is too pessimistic.
Relative to the actuarial risk theses policies are way over priced and pay high commissions to the seller.You also run the risk your insurer goes bankrupt.The actuarial reserving by these insurers is often inadequate and they often are based in States with next to no oversight or regulation.

If you can self insure you'll avoid this risk.

KIA probably cuts the coverage at 3 years to allow the dealers to make the commission on selling the extended warranty

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