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Hello all,

I have a few questions about Volvo Increased Protection (VIP) Plans.

1) When can it be purchased? During the new purchase? Or anytime before S+S Plan expires?

2) How much is the plan (range) usually? This is for MY12 XC60.

3) Anyone has experience with this VIP plan before? Does it really cover 'almost' everything?

Thanks.
 

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It was explained to me that in FL (where I purchased my XC60), prices for extended warranties are state-regulated (i.e., non-negotiable); I'm still trying to find out if that's correct or not. In any case, the non-negotiable quotes I got include if you purchase before 16500 miles/15 months in service, and if you purchase 16500-31499 miles and 15-29 months in service. I also got different quotes based on term (4/5/6/7 yrs) and mileage (75K/85K/100K/120K miles). The range for <16500 miles/15mos service is 4/75K for $2122 to 7/120K for $4828, and also an 8/120K quote for $5489. These are for Exclusionary (the "almost bumper-to-bumper" plan) and $0 deductible. I have not pulled the trigger on one yet, and still may or may not.

Your experience/state/negotiability may vary. You can also look into third-party plans if you have experience with a reputable plan/company on that...in the past I have tended to avoid those because even the reputable ones tend to find any reason NOT to cover a given repair.
 

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Hello all,

I have a few questions about Volvo Increased Protection (VIP) Plans.

1) When can it be purchased? During the new purchase? Or anytime before S+S Plan expires?
It can be purchased any time from day 1 of ownership and all the way up to 1,500 before the factory warranty expires.

2) How much is the plan (range) usually? This is for MY12 XC60.
You will have to speak to your Volvo retailer about that. Naturally, price will vary depending on the length of plan, deductible and when you buy it (there are surcharges as the mileage of your car increases).

3) Anyone has experience with this VIP plan before? Does it really cover 'almost' everything?

Thanks.
There are two types. So check these links and you can decide which fits your needs the best:

http://www.volvocars.com/us/sales-s...increased_protection_plans/pages/default.aspx

http://www.volvocars.com/us/sales-s...ection_plans/Documents/Volvo-VIP-Brochure.pdf
 

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It was explained to me that in FL (where I purchased my XC60), prices for extended warranties are state-regulated (i.e., non-negotiable); I'm still trying to find out if that's correct or not. In any case, the non-negotiable quotes I got include if you purchase before 16500 miles/15 months in service, and if you purchase 16500-31499 miles and 15-29 months in service. I also got different quotes based on term (4/5/6/7 yrs) and mileage (75K/85K/100K/120K miles). The range for <16500 miles/15mos service is 4/75K for $2122 to 7/120K for $4828, and also an 8/120K quote for $5489. These are for Exclusionary (the "almost bumper-to-bumper" plan) and $0 deductible. I have not pulled the trigger on one yet, and still may or may not.

Your experience/state/negotiability may vary. You can also look into third-party plans if you have experience with a reputable plan/company on that...in the past I have tended to avoid those because even the reputable ones tend to find any reason NOT to cover a given repair.
Oh, come on...I seriously doubt that the State of Florida regulates the price of insurance plans, which is what a warranty extension is.

Who "explained" this to you? Does this person sell annuities on the side as well? :)
 

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It can be purchased any time from day 1 of ownership and all the way up to 1,500 before the factory warranty expires.



You will have to speak to your Volvo retailer about that. Naturally, price will vary depending on the length of plan, deductible and when you buy it (there are surcharges as the mileage of your car increases).



There are two types. So check these links and you can decide which fits your needs the best:

http://www.volvocars.com/us/sales-s...increased_protection_plans/pages/default.aspx

http://www.volvocars.com/us/sales-s...ection_plans/Documents/Volvo-VIP-Brochure.pdf
Interesting that the brochure says the plan is administered by a third-party. That puts these extended warranty into the class of warranties that one should avoid. These companies are playing a betting game: that they can find a way to deny the claim to increase their profit. What does the insurance industry call claims payments in their financials? They call them "losses" That's a clue to how they'll treat you when you need them.

Consumer Reports almost never recommends extended warranties, including on autos. Fortunately, the XC60 has average reliability in CU's ratings. That's not great, but it means that the extended warranty is likely to be a loser for the user, financially speaking.

Plus, if you bought your MY12 new, you got S+S. It's low on mileage, but if you live in a city, five years is a long time to warranty a car. Geely is making a bet that they won't go broke on warranty claims over that longish period. That's another reason why I think, on average -- and assuming you didn't get a lemon -- you won't need to buy an extended warranty.
 

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Oh, come on...I seriously doubt that the State of Florida regulates the price of insurance plans, which is what a warranty extension is.

Who "explained" this to you? Does this person sell annuities on the side as well? :)
Actually, from what I've been able to find (as I mentioned, I haven't yet exhaustively researched this yet as I'm not under the gun time/mileage wise right now), FL *does" seem to be an exception to the rule as far as negotiability goes for these insurance products. As the case in Sanford aptly indicates, apparently FL seems to take some sort of weird pride in being a "leader" in "innovative" legislation.
 

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Thanks for the numbers, drat. 4/75K for $2122 would be the one that applies to our 'needs' and that is pretty spendy for 25K miles worth of 'coverage'. We 'drove out' of our warranty at almost exactly 3 years(currently 52Kmiles), something we never came close to in any of our other new Volvos. I thought about extending the coverage, but two grand to go the fourth year under 'warranty' just doesn't fit for me. I can 'self-insure' for a lot of stuff before I would reach $2000+ . It's a gamble, I reckon; but(fingers crossed) I'm not expecting anything to fall apart on our XC in the next year. If you actually realized some benefit in the short term when buying an extended warranty, it would make more sense. For example, after buying $10K worth of HVAC in our (then) 50 year old home, the 'Platinum' 10-year extended warranty cost $1000; BUT, it included semi-annual check-ups---something we would want anyway. So, the HVAC folks get a grand up front...we saw an immediate benefit of twice a year service AND the service folks were more likely to catch a catastrophic failure BEFORE it happened(potentially saving the company money on warranty repairs).

The S&S plans render that scenario obsolete(unless the extended warranty also covered scheduled maintenance for the additional period...THAT might work for those on the fence about purchasing the warranty, but it seriously muddies the waters when a third-party is involved). DANG! This was easier when we just drove the car until the standard warranty was almost up and went back to the dealer for a new one! :) See my sig line if you don't believe me!
 

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Discussion Starter #8
Huh? So this VIP plan is not something directly administered by Volvo but a third party company? Is it true? Huh? Oh.. :(
 

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Interesting that the brochure says the plan is administered by a third-party. That puts these extended warranty into the class of warranties that one should avoid. These companies are playing a betting game: that they can find a way to deny the claim to increase their profit. What does the insurance industry call claims payments in their financials? They call them "losses" That's a clue to how they'll treat you when you need them.
Many factory warranty plans are administered by third party companies. The manufacturer backs these plans so you are not going to be fighting with anyone ifnyoungomin with a claim. Volvo approves or does not approve a claim. It is as simple as that. When you buy a VIP plan, you will get a list of what is covered and what is not covered. Your discussions, at the time when the warranty coverage must be invoked, your discussions will be with a Volvo retailer's service personnel and nobody else.

Plus, if you bought your MY12 new, you got S+S. It's low on mileage, but if you live in a city, five years is a long time to warranty a car. Geely is making a bet that they won't go broke on warranty claims over that longish period. That's another reason why I think, on average -- and assuming you didn't get a lemon -- you won't need to buy an extended warranty.
Just an FYI: Geely has absolutely nothing to do with daily Volvo operations...
 

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It was explained to me that in FL (where I purchased my XC60), prices for extended warranties are state-regulated (i.e., non-negotiable); I'm still trying to find out if that's correct or not. ...
Hogwash.

Not an expert here, but, the warranty service industry is regulated in as far as that the company is required to register with the state it decides to offer service contracts in, but, the state has absolutely no say in the price for said extended warranty / service contract. Just like the state doesn't set the price for car insurance, home insurance, health insurance, ....

For the rest, the state may or may not offer any kind of assistance in dealing with claims through on or more consumer protection departments, attorney general's office, insurance commission, ... The state may set guidelines and it might require some type of minimum coverage ... but the state will not determine the price.
 

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Discussion Starter #12
So is it a good idea to purchase this VIP plan after all?

Buying something 5 years ahead is kind of .. hmm... uncertain... risky...?? And the price is not small for the plan... right?
 

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I was at the factory last month (getting my wife's C70) and asked about the VIP plan. They told me that this is a US-only deal and the factory has nothing to do with it. Thus it must be a 3rd party arrangement with the US dealers (perhaps like "On-call").

I'll probably go with getting some form of the VIP as long as it covers timing belt, suspension, and rental car coverage. I tend to keep my cars for 100k+ miles and have spent much effort fixing my V70R's suspension.
 

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Hey all - just a quick note to fill you in our Extended Warranty Plans. We are Steingold Volvo in Pawtucket, RI and offer huge discounts on Volvo VIP Extended Warranty Plans purchased online or over the phone. The process is extremely simple - just provide us with the VIN of your vehicle and the exact mileage and we'll give you all the details immediately. We will even apply a $100.00 discount towards our already discounted prices. And keep in mind, absolutely no vehicle checks are necessary as everything is performed directly over the phone/internet. Just contact us and we'll be happy to help - Call (401) 723-4700 or simply click here: http://www.steingold.com/-vip--extended-warranty.htm
 
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