Originally Posted by rastaFarai

So an update on my extended Platinum Fidelity Warranty purchased from Rallye BMW in Long Island NY.

Went in today for my first warranty work. My folding mirrors. Was a bit nervous to see if they would do it - but i figured might as well test them out on something that I could actually do myself.

So BMW diagnosed the issue and said the passenger side mirror motor needed to be replaced. $624 for parts. 3hrs labor at $130/hr. Although it would take me 1 hr to replace motor..

So Fidelity covered it. Only thing they didn't cover was the full 1hr diagnose fee of $130, they only covered half an hr.

The catch is that it didnt fix my folding mirror problem - it just fixed my mirror motor so the mirror goes down when i reverse and doesn't get stuck anymore. Total $920.

I only paid $70 out of pocket because fidelity didn't cover the other 30 min diagnose time. 0 deductible because i went to Rallye where i bought it.

So next step with mirror folding issue is the other motor (drivers side) needs to get replaced because it comes to far in so it folds back out. Because the service will be over $1000 fidelity needs to send an "inspector" out. I didnt see that fine print. So that will be next week because I want my car for the weekend.

So as of right now i'm pleasantly surprised and extremely happy with my fidelity extended warranty. Again - always be mindful of the warranty you buy and don't complain about it if you didnt read the fine print. I purchased the platinum because it made sense with the low mileage i had.

Anyone know how these extended warranty companies make $? They couldnt have spent $850 on my behalf. Seems crazy considering I paid $2600 total for 5 yrs. Is it all in the science of probability and risk assessments?