[surge98]

There have been a few posts about this on various BMW forums. By all accounts, it seems to be a more affordable way to get some extended warranty coverage for up to 7 years/100k miles. I'm getting ready to order an m240i and I'm already a Geico customer, so I decided to get an insurance quote with this coverage added. They quoted me $1000 per year for MBI on a 2021 m240i, which is surprising because most of what I'd read suggested that this coverage is around $100 per year, even on M cars.

Does anyone have this coverage on a 2 series, or did anyone get a quote with MBI included? I'm wondering if others have gotten the same ridiculous price, or if it's just me? At that price, it's actually more expensive than the BMW extended warranty plans. I have no tickets and no accidents, and I've been with Geico for 10 years.

[harma24]

I did not look into insurance, but for that price, you'd better plan on burning through an engine or a couple of transmissions in those 7 years to make it worth the price!

[Poochie]

Something is not right, the MBI fee is proportional to your rates, if your overall rate tier is already high, then the fee for the MBI rider coverage would also be reflected higher and vice versa. However, $1,000 sounds extraordinary.

I pay $1,400 for six month and the MBI has and only have been $45.

Try to get some clarification from Geico customer service on why the fee is so much..

.

[surge98]

Thanks. Pennsylvania seems to have higher rates in general. Not including the recent 15% discount, I'm still paying $900 a year on my 2010 128i with a perfect driving record. Without MBI, Geico quoted me $1300 a year on a new m240i. What's interesting is that Liberty Mutual quoted me a higher price on my current car, but only $700 per year on a new m240i. It sounds like I need to call and ask why the MBI quote is so high.

[morphomeman]

What is covered under this MBI policy? These policies are famous for their loopholes: "Oh, no, we don't cover that."

[surge98]

Originally Posted by morphomeman

What is covered under this MBI policy? These policies are famous for their loopholes: "Oh, no, we don't cover that."

I had the same thought, but there are plenty of examples of Geico covering major repairs, including a new engine in one case. As far as I know, it covers pretty much any repair as long as it isn't the result of something like a mod gone wrong. It also doesn't cover maintenance items. It makes a ton of sense at $100 per year, but not the $1000 per year they quoted me.