Preferred Warranties Inc.

Bought a used Truck and the PWI Warranty ($1100) and 9 months later the Power steering pump needs replaced. The warranty company told the dealership service department that the steering pump is not covered. Please READ every single line of your warranty contract before buying because if you don’t you will most likely be wasting your money. Do not make the same mistake that I made spending your money on a piece of paper that is useless.

I purchased Premier coverage for a used BMW 535i. Back in March I needed a valve cover repair which should have been covered by the policy. When the repair shop contacted Preferred Warranties they had a very specific conversation about internal gaskets and valve cover not being covered. When I recently went through the policy, it clearly stated that valve covers were a covered item. I called Preferred Warranties to inquire why the repair which had already been completed was not covered even though it should have been.

Updated on 12/13/2019: I have been in contact with Preferred Warranty staff in regard to my Bmw repair of the timing chain. The approval of $75 an hour was raised to $100 an hour. shortly after that I was informed that the car needed a different repair due to cam damage. A few days later an assessment was made like before a the cams were damaged due to the timing chain issues. A repair that was covered. Preferred Warranties then requested oil change documentation for the four changes needed between the warranty covered oil changes and my current mileage @86k miles. The Bmw has an oil sensor that notifies the driver when an oil change is necessary. That was used for the first couple of changes. An oil change service center did not reset the timer on a visit so at the point the oil was changed @ 8-10k intervals. All of the oil changes were full synthetic.

I purchased one of their warranties when buying my used diesel Jeep; because it was diesel, I had to pay even more but thought that it'd be a good idea for those "just in case" moments where a single repair could potentially cost close to the price paid. I was given a brochure that listed everything covered and it all sounded great. Fast forward 1.5yrs and 40,000mi later, I had dropped the Jeep off at service for what I thought was a simple alignment (was pulling to the left). I was called the next day by the dealership while I was at work and was told it was a tie rod. I told them to go ahead and get it fixed, and I figured I'd get the information for the warranty when I got home and would get a claim submitted as the tie rod was covered under the warranty.

PWI... well in my situation I bought a used car and in the first week of owning it the transmission went out. I took it the shop and had the shop start a claim before any inspection was done. PWI sent out a third-party inspector and then told me that the issue was preexisting. How convenient for them. They gambled on the warranty and now that they have to pay they have an excuse that it was preexisting. The dealership I bought the car from is telling it was not preexisting. I would not trust this warranty company. They are clearly in breach of contract, unjust enrichment, intentional misrepresentation and in in breach of the duty of implied good faith, needless to say I will be contacting a lawyer and seeking damages, and loss of time. Do not buy this warranty!!!!

I paid over $1200 for an extended warranty and when I need to use the warranty they gave me a transmission that was bad. Now they will not fix the problem after they gave me the bad transmission. NEVER BUY AN EXTENDED WARRANTY FROM PREFERRED WARRANTIES. I am going to expose them on every social media outlet. The power of the internet!!!!

I purchased used vehicle from local dealership and opted for powertrain warranty. I was driving to work yesterday when check engine light came on and vehicle began shaking and hesitating. I was about a quarter mile from reputable service station. They identified that one of the cylinders/pistons went and needed to be replaced. I keep a photo of warranty card in phone and submitted a claim today. I was contacted this evening, about 8 hours after submitting claim. They initially tried to tell me that the cylinder and pistons were not part of powertrain followed by the customer service rep telling the repairs were conducted too quickly for a piston. I didn't know PWI has mechanics conducting customer service. The rep proceeded to tell me that it wouldn't be covered because I didn't call for prior approval as listed in my contract.

If you're looking at purchasing a warranty for your vehicle, look elsewhere. Stepson bought a 2010 Audi A4 from a dealership and bought the extended warranty. The center balance shaft went out causing the engine to seize up. When we took it to the shop, they knew what the problem was through simple diagnostics BUT the warranty company insisted the shop expose the center balance shaft to prove that it was in fact the problem with the motor. This added on roughly 5 hours of labor due to body and other parts of the motor having to be removed to get to the balance shaft. Once it was confirmed by the warranty company's adjuster, they sent a used, long block motor for a replacement.

I bought a used car and got the warranty. Had to have the transmission replaced. Started having problems with my right front, had a mechanic check it out and the axle had to be replaced, the strut and wheel bearing. While this was being worked on my mechanic said there was bolts missing out of the transmission, the bolt to the carrier bearing was broke. That is what caused all the other problems. The fluid was overfilled. Now the transmission job is telling me nothing is wrong with it, and Preferred Warranties is telling me they can't do nothing. The car was messed up while it was under warranty and now it's run out so they won't do anything. It's not like I can just go pop the hood and see that the transmission was put in the right way. it took time for the other problems to come up from where it wasn't installed right. I had to pay out 800.00 for this other work and I have a car making payments on that I can't drive. Warranty company is a rip off.

Bought the best possible warranty from them and still nothing covered. Had 3 separate issues with '16 platinum fx4 bought 10 months ago from used dealership. Hitting the 'cancel' button! Would highly not recommend wasting your money on them.