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My insurance company Geico offers a MBIP for $8.00 a month $250 deductible for 7 years 100000miles on the Pruis bumper to bumper. I fell this is a good deal Better then the one the dealer offers. Need a feed back. who knows if I will keep my Prius for 7 years I for sure will never see 100.000 miles the kind of driving i do. Just got the car salsa red with the 9 package. so far so good. Just walked in to the dealer and paid $2,000 over MSRP and bought the car that i wanted after being on 4 waiting lists with deposits. I really worked and got the car. Called 50 dealers. Enjoying the car. Gave up a 1987 Mercedes diesel 137,000 miles.
 

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nameif said:
My insurance company Geico offers a MBIP for $8.00 a month $250 deductible for 7 years 100000miles on the Pruis bumper to bumper. I fell this is a good deal Better then the one the dealer offers. Need a feed back. who knows if I will keep my Prius for 7 years I for sure will never see 100.000 miles the kind of driving i do. Just got the car salsa red with the 9 package. so far so good. Just walked in to the dealer and paid $2,000 over MSRP and bought the car that i wanted after being on 4 waiting lists with deposits. I really worked and got the car. Called 50 dealers. Enjoying the car. Gave up a 1987 Mercedes diesel 137,000 miles.
 

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I bought a repair policy for one of my earlier cars from my credit union because it financed my vehicle purchase and they were offering it. BIG MISTAKE! The credit union was simply selling the protection policy for an insurance company and was getting a cut from the sale. I had three claims over the life of the policy and all were rejected. The first was the cost the radiator thermostat and the labor to install it. The company stated in its rejection that the thermostat was not listed in the parts it agreed to replace. I argued that the State of California required that they replace all smog control related parts and the radiator thermostat was one of them. I lost. The next two claims were rejected because I didn't clear with them before authorizing the repair. The repair work was legitimate and a covered component, but I was naughty because I didn't get permission. Now on the other hand, Toyota made your Prius and Toyota will make the repairs at a toyota dealer and Toyota sold you the protection. Need I say more?
 

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jamarimutt said:
The $8 per month looks good, but the $250 deductible is rather high.
Let's do the math. Let's say you make it past the initial 36 month general warranty. You have invested $96/year. If a repair occurs at month 37, unless the repair will cost more than $250, you have invested $538 for nothing. Now consider that the hybrid portion of the vehicle is protected for 8 years/100,000. The rest of the powertrain is protected for 5 years/60,000 miles. So your additional protection will only cover things like the radio, power windows, etc that is not already covered. It also does not cover items subject to "normal wear and tear" like tires, brakes, and hoses.

Unless you have general reliability concerns, it will be year 5+ before you would use this added protection, and then only if the repair is more than $250, which still comes out of your pocket. You will need to have a repair which costs more than $730 just to break even. At this point the hybrid sysem is still under warranty!

Given Toyota's general quality and reliability record and the history of the previous Prius with respect to general items failing, you should strongly consider saving your money. If something ever does go wrong, it will be a long time before you would have to pay for it, and even then, it would appear that most repairs would cost less than your investment in the protection plan. No guarantees, but the odds are against you ever cashing in, which is why plans like this make money.
 
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