Extended Warranty, Preventative Maintenance Musings

[shertex]

Has anyone done any research on purchasing an extended warranty for an older MB? Working under the assumption that certain insurance companies are willing to write a policy for just about anything, I thought that I might be able to find something that would, in effect, fix my maintenance costs for the life of the vehicle.

Right now, I've got 160,000 miles on a 1992 300D 2.5 Turbo which I intend to keep as long as I possibly can. I'd be happy to have a policy written that is non-transferrable. My thought was that, from the perspective of the insurance company, they might think that I wouldn't hang on to the car for all THAT long; but from my perspective, I'd be glad to take to 500k. If I could, in effect, fix my maintenance costs by virtue of having the policy, that might not be such a bad arrangement.

So how might I pursue such a policy?

And then a related observation: it seems to me that certain kinds of preventative maintenance fall into the category of exorbitant insurance premiums, i.e. money spent that may be disproportionately large compared to the potential loss. (Keep in mind here that I don't do my own work...I pay to get it done.) Take, for example, replacing the timing chain. Some people recommend that it's good idea to do eventually (say around the 250k mark); others say it ought to last the life of the vehicle. Let's say you decide to do it as a preventative measure. So you're spending, what, $500, to insure against a potential $3,000 loss (major engine repair)? I wouldn't think for most people that would be financially prudent. My conclusion: for certain kinds of preventative maintenance, it's a better use of money not to do the repair, take your chances, and hope for the best.

Thoughts?

[Gilly]

I think that given what you want to do with the car (drive it til it drops) you're better off and would be alot happier if the money were invested in maintenance jobs, rather than the ever present wondering about if it's safe to drive the car, especially on a long trip. With the proper maintenance you could drive it even longer than 500,000!

Gilly

[KCampbell]

I do not believe that you will find any insurer willing to write a policy on a vehicle beyond 100,000 miles or 10 years. If they are they will price it so they make a profit, which means you'll give them more than they'll give you.

Remember, they don't cover predictable maintenance items, they cover things the insurer does not expect to fail.

Kevin

[Hatterasguy]

Pretty much once you hit 100k all bets are of.