Warranty Companies backed by Reinsurance Companies
I am a former employee of a warranty company backed by reinsurance companies. All of these companies are major rip off artists. FYI if the dealer is charging you $2000,.00 for the warranty you need to understand that the dealer is only paying probably $50-$200.00 for the actual warranty. Here is where you are being ripped off first. Second, how many really get their vehicles paid for by the warranty companies? Usually there is something in the fine fine print that makes your vehicle ineligible. Everyone needs to fight for warranty companies to have to go through the state insurance industry so that warranties must adhere to strict premiums and strict policies. As it is now they can do whatever they really want to.