Portfolio Protection Vehicles & Services
ConsumerAffairs Unaccredited Brand
Portfolio Protection products are designed to make your ownership experience with your vehicle a happy one. By providing vehicle service contracts to cover the high cost of repairs, and Guaranteed Asset Protection (GAP) to help you financially if your vehicle is totaled, or our wide range of other protection products, we help you manage your budget, keep your vehicle the way you want it, and give you peace of mind.
I bought a low mileage used car recently from a dealer and purchased the Portfolio Protection warranty. Unfortunately the car has been a lemon. Failed door actuator, failed fuel vapor system, failed transmission. Total cost of repairs has been over $6,000 in the first four months of owning the car. Portfolio Protection covered all of the repairs with my only having to pay a $100 deductible. They worked quickly in all cases, paying the dealer the same day so I could get my car back (dealer won't release car without payment for repairs). Would highly recommend Portfolio Protection. I will buy their coverage in the future. If you are making a valid claim they do honor their commitment and act quickly.
I had a 2015 Nissan Altima. It was flooded in Aug. 2017. I bought my car in 2015 and purchased GAP from these people through the dealership. I had a collection agency call me today trying to collect a debt in the amount of 8,624.27. GAP claims that they was not entitled to pay anything because I had not paid but 17 payments of 35 and was late. I did have two deferred payments. Nissan shows I was never late. So I don't know what to do now. I am guessing a lawyer maybe in the plan if this doesn't get resolved through arbitration between Nissan and the Portfolio.
Purchased a plan F warranty when I purchased my 2004 F250. Took it to dealer after noticing an oil leak. The dealer submitted my claim to Portfolio and they denied my claim. They stated that they did not cover oil cooler gasket. Plan F reads all gaskets and seals. Do not purchase a warranty from Portfolio. They will just take your money... Portfolio shouldn't offer a used car warranty if they don't cover anything their plans offer.
5 months ago I purchased a truck from a dealership. 2 months after I owned it I needed repairs. I brought it to Firestone, paid for it out of pocket, called PORTFOLIO, followed the instructions to get my reimbursement. A month went by, I haven't heard anything so I called, I was told that they haven't gotten anything in the mail, so I asked for a fax number or email that I can send the documents to. I was told that it HAD to be sent by mail. So I sent the documents again certified mail. That was 3 weeks ago. I talked to them today and I was told the same thing, I even asked for the manager, or someone higher up. I was denied. I REALLY think this a scam, if you deal with a dealership that deals with PORTFOLIO... RUN. DO GIVE THOSE PEOPLE YOUR HARD EARNED MONEY. Now I'm out of over 3000 U.S. dollars.
They kept us waiting for 3 days, gave us the runaround, and frustrated us to no end without approving our claim even though they told our mechanic that the repairs were covered. I wound up canceling the contract. Would never recommend this scamming company to anyone.
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We purchased a 4 year extended service contract for our 2010 Tiffin Phaeton RV on June 19th, 2015 in the amount of $5680.00. On September of 2017 the Inverter in our RV went bad. We took it to Lazy Days for repair. It was required by Portfolio that we take it to the dealer we purchased it from for the repair. We were scheduled to go on our annual trip the next day, so after confirming with Portfolio that the inverter would be covered, we elected to pay Lazy Days directly so we didn't have to wait any longer to leave on our trip. The replacement and installation of the new inverter was $5060.20. I mailed the required documents to Portfolio on Oct 3rd. They requested the 1st page of the contract, the invoice and the paid receipt along with our contact info.
I called them on Oct 19, spoke to Rose. She said someone would call me back on the status of our reimbursement. No one did. I called Oct 22nd and spoke to Julio. He said it was under review and he could not confirm that they had received the documents I had mailed. Thinking the 1st envelope may have been lost in the mail, I mailed them again, Certified Mail. I got confirmation from the US Post Office that it was received Oct 26th, 2017. I called that day, they did not have it. Thinking it may be on someone's desk and not logged in to their system, I called back on 11/1. Rose could still not confirm it was received. She said a supervisor would call me back that day. No one called back. I called again this morning Nov 2nd and spoke to Rose. She said she escalated it by emailing a representative to call me back yesterday but no one responded. They give me no information and no assurance they are a legitimate company.
I bought the gap policy at EDH Mercedes Benz when I purchased the car in 2015. The car was in an accident April of this year and my primary insurance totaled it and paid $18,000+ to lender leaving a $440+ gap. To this date they are playing games with document request monthly after you think they've settled. I have countless hours of time in this and the lender and primary insurance are baffled at the insane amount of documents requested. I've requested they just refund my money being it's greater than the gap, no can do since claim is open they say! This companies business model appears not to provide gap coverage but to scam you out of your gap purchase. BEWARE!!
While on Spring Break in San Antonio, Texas, I had a flat tire on a Sunday. I don't know why the garage was open, but they said my tire was ruined and they'd have to replace it. They found a replacement for this rare tire on a crossover SUV, and I was on my way within 2 hours. But they said they saw my Portfolio card in my car and gave me the 800 number to call. I submitted my receipt for around $250 online, got expert friendly help from the Portfolio lady, and my check in less than 2 weeks to reimburse me 100%. Not many warranty places actually help you get your reimbursement check. Best warranty service I've ever experienced.
I had to take my 2011 Ford Flex in for repairs. No problem, I thought, it's still under the extended warranty from Portfolio/First Extended Service Corp. Then I find out that even though I have the "Plan B" coverage, which is the "Plan P" and "Plan A" combined (or basically everything) they don't cover fuel pumps and I'm on the hook for over $1100. Thankfully I have an outstanding service rep at Santa Margarita Ford who called Portfolio and argued on my behalf and they agreed to reconsider and cover the repair. Portfolio then tagged me with a $100 deductible.
On my contract in box 2 "Check Deductible Amount" the item checked is Other and no amount is written in. This was intended to mean zero. Blank, null, empty, zero all pretty much mean the same in my book. Lo and behold in small print at the bottom of the contract is the line "A $100 Deductible will apply unless otherwise indicated in Box 2." The way I see it, checking the Other box does mean that something is "otherwise indicated", but not Portfolio. No, they want to squeeze you for every penny they can and get away with not paying for any repairs they can. This company is in the business of screwing consumers. Their entire business model is based on the premise of pay only when absolutely necessary and make that as difficult as possible. I'll never get another warranty from them.
I bought the extended warranty for $2250 at the dealership. 2 years later, I thought it would come in handy. WAS I WRONG. Car was towed 8/29/16 to the Pep Boys repair shop. On 9/7/16 Pep Boys called me to inform me that they could not get in contact with Portfolio Protection/First Extended Corp to authorize the work. They were concerned because the part was needing to be ordered. It was nice to know Pep Boys cared I had been without my car for a week. I told them I would see if I could make any progress - I called the warranty company only to be on hold for 15 min. The customer service guy was named Mike - I think. He was beyond rude. Did ZERO to help me. I asked if he could please have someone call Pep Boys since they obviously couldn't get through by pressing #1 for repair shops. He informed me they were an Inbound call center not an Outbound and it was Pep Boys job to call them.
I called Pep Boys and told them what I experienced. I told them to order the part and worse case scenario I would pay for it. I then sent an email to Portfolio Protection/First Extended notifying them of what happened. I've yet to this day get a response. 9/8/16 I call the warranty company again. This time I waited for 18 minutes before speaking to Christian. He was very nice and informed me the wait times were higher than usual and that Pep Boys were like me experiencing long wait times and maybe didn't have time to hold. He apologized to me for the experience I encountered with his co-worker the day before. He also asked what was the diagnosis on my car and said it would be covered. He told me to have Pep Boys call back in and instead of pressing the option for repair shops to press 2 for contract holders and ask for him. He would get them to an adjuster if one was available or get one scheduled.
9/12/16 Pep Boys called to ask when I was picking my car up. They never were able to get in contact with anyone. They told me they had 45 min hold times each time they called - sometimes less, sometimes more. 9/13/16 - I called the warranty company before picking my car up today. After waiting 22 minutes on hold I spoke to another horrible rep.
He informed me since the work was done, he and I had no business to discuss. He seemed to get agitated when I informed him of my conversation with Christian a few days prior. He must of gotten a promotion while we were on the phone because all of a sudden his title changed to "Adjuster" and I was out of luck. He REFUSED to transfer me to anyone above him. Said other shops get through all day and mine lied. He gave me a Bye Bye and hung up on me!!! I called the corporate 800 number only for a girl to transfer me right back to the customer service claims line. I picked up my car for $478. It should of only cost my deductible of $100. This company is a complete joke. I'm in the process of canceling the contract. They need to be reprimanded.
So I bought my used 2011 Honda Civic from my local Chevrolet dealership here in Oklahoma City. When I purchased the vehicle, I went ahead and bought the extended warranty on the vehicle from Portfolio (First Extended Service Corporation) just in case something happened. Well with my luck, it did. Brought the car to my local Honda dealership and they diagnose that the bottom end of my motor is knocking so they will need to replace it. I dropped my Honda off at the dealership on June 20th, 2015 knowing they won't be able to diagnose it till Monday.
After the diagnoses, Honda got back to me real quick to tell me that I need to replace my motor. They contacted First Extended to get an approval to proceed with the repair. The adjuster didn't come show up till June 26th. Due to him showing up on a Friday, didn't hear anything back until July 1st. Then First Extended failed to inform my Honda rep that I needed to show proof of maintenance before they can proceed. Luckily I keep all of that. So I faxed everything to them on July 3rd. Well, due to the holiday that weekend, I didn't hear back until July 7th stating that they approved the repair and that they have order a new used motor. They told my Honda rep that the motor should be arriving at their facility by the end of July 10th. Guess what, it wasn't there.
So the following week I called and called to find out what's the hold up. Everyone kept giving me the run around so I didn't know what was going on. Finally the motor shows up on the 17th but Honda couldn't start work until the following week. I found out the reason why it took so long to receive my engine was because whomever that processed the order had it shipped to the wrong facility and state. So I didn't receive my car back until the July 23rd. Literally, my car was at the shop for a whole month. They only approved me up to $180 for a car rental. That's only a week's worth that I had a car to get to work and stuff. And to top it off, it's been 2 months now since the claim was open and I haven't been reimburse yet for my car rental. This is by far the worst customer service I have ever dealt with. Never again would I buy warranty from this company nor will I ever recommend them to anyone.
I have the hi-tech service agreement from portfolio. I have read all the fine print and understand that the service agreement is with the company from which I purchased my vehicle from. National Automotive Group of Jacksonville, NC is denying a claim for a leaking exhaust manifold because the warranty doesn't cover bolts that are broken. But the warranty does cover the manifold and all seals and gaskets of covered parts, which in turn would cover the repair minus the bolts which would need to be taken out to repair the gaskets anyway. I would be willing to pay the service department inflated price for the hardware if they would cover the repair as the warranty states they should. Overall I believe the warranty is waste of consumer money.
In August 2014 the radio on my 2012 Hyundai Azera stopped working. Since the car contains a lot of electronic systems I purchased an extended coverage warranty from Portfolio/First Extended Service to cover just this type of eventuality. So walked in with my contract thinking I was in good shape, big mistake. My service department contacts Portfolio and they don't want to replace the radio - they want to try and see if they can fix it. To do this they need to remove the radio, ship it to a repair shop, have repair shop evaluate it to see if it can be repaired, order parts, wait for parts to arrive, perform the fix, then ship it back, then have it reinstalled. Total time period = 3 weeks.
The radio controls a bunch of systems on my car including backup camera, navigation, etc. So I explain that 3 weeks is an unacceptable timeline. They consult with adjusters saying it will take 24 hours. So 48 hours later I am told that they will only go with the original plan. My service department had offered to sell them the radio at cost but apparently Portfolio does not want to pay the extra $900. My service department asks for approval for a rental car but Portfolio will not pay for a rental car because my car is "drivable". So now I am driving around for who knows how long, with a huge hole in my dash and lacking access to a number of important features on my car.
The cherry on top came when my service manager asked them for the information to bill for shipping the radio to the repair shop. Portfolio told him that they would not pay for the shipping, that that was my responsibility. So they dictate a plan to fix the radio, but won't pay the costs associated with enacting this plan - kind of sounds like fraud doesn't it? So I have to call them back again and threaten them with a lawsuit for them to finally approve a shipping fee of $25 on a policy that I paid over $3000 for in order to enact a repair plan that they approved.
I spoke with the General Manager of the dealership I use for servicing and he says he will not do business with Portfolio/First Extended Service for exactly this reason. I have no idea when or if my radio will be repaired but I have had to call Portfolio almost every day and spend 30 minutes to an hour each time since I first brought it in to deal with one kind of hassle or another. Look online before you consider this policy. See how many complaints exist against Portfolio/First Extended Service. At least I "might" get my problem fixed. I truly empathize with all of the others who get their claims denied.
These people are all about getting your money and fighting you tooth and nail to keep every cent of it. My claim was very legitimate but Portfolio/First Extended Service seems to deliberately make it as cumbersome as possible to get your vehicle fixed, if at all - hoping you will give up and go away. There are other companies out there that provide extended warranties - explore them. Do not go with Portfolio/First Extended Service.
My wife, Sterling **, purchased this warranty through the dealer, Equity Auto Center in Tempe, Arizona on 11/03/2012. The price of this product was approximately $1552.00. The salesman said that this particular extended warranty was the best you can get, "top of the line." The salesman presented this warranty as a "peace of mind" for a young college girl on a limited income. The salesman and the company brochure stated the following: "YOU WILL DRIVE WITH CONFIDENCE AND SECURITY WHEN YOU CHOOSE THIS EXTENDED SERVICE AGREEMENT." She was lead to believe that she would be covered for any expensive repair including high tech electrical problems. They also stated that they would provide roadside assistance and towing to the nearest repair facility.
We called for help on 06/18/2014. The roadside assistance they offered was $50.00 off a $400.00 tow bill. The Ford dealer diagnosed the problem as a transmission control module (TCM), a common problem. Ford in Page, Arizona gave us an estimate of approximately $1100.00. Portfolio denied the claim stating that the specific part was not mentioned in the contract. They offered no assistance whatsoever. I talked to a supervisor named Tony, who said that they can only pay for items specifically mentioned in the contract.
My issue is that the salesman and the company literature portray this product as something that will give you "confidence and security" knowing that you are covered. I can respect the fact that the contract does not specifically mention the TCM, but they led a young, naive woman to believe that she was covered. The sales presentation and the company literature are definitely deceptive. Neither of them have any qualms about taking advantage of unsuspecting consumers. I am completely dissatisfied with this company and do not recommend it to anyone!
I purchase the highest plan (Plan F) coverage for my Toyota when I bought it from the dealership (Dorsch Ford Lincoln Kia of Green Bay). Couple months down the road (4/3/14), one of the level sensors went bad. I called Portfolio aka First Extended Service on 4/3/14 about warranty on my Toyota. First Extended told me to bring back where I purchase the SUV from so they can diagnose it. I drop off my SUV to the dealership where I purchased from, dealership called and said First Extended will not cover the parts or service, it needs to be repaired. I called First Extended and talk to one of the reps, and he told me they will NOT cover the sensor.
I told him that the parts was listed as covered in the plan and also listed in their brochure. He keep cutting me off and said no only NON-WEARABLE parts are covered. That's bull ** I told him. So just told him to refund my money back but he said they won't because it's in the contract. It's a waste of money, time and scam that will never cover anything period. Also blame the dealership on selling these crap extended warranty to us consumers too. Damn dealership charged me $200 even when I told them what was wrong part need repair with the SUV. Dealer said they needed to diagnose what was wrong with it. I guess rip off dealership + rip off extended warranty = rip you off.
2006 325xi under an extended "Plan F Hi-Tech Coverage" warranty with Portfolio/Virginia Surety. On January 22, 2013, I started my car and it immediately started shaking. The "service engine soon" light came on. I took it straight to Autobahn DFW dealership of Fort Worth, TX. They repaired it the same day. The problem was an ignition coil, which they replaced. The dealer called in to Portfolio and was told this problem was not covered under warranty, so I paid $364.91 out of pocket to get my car back. I called Portfolio at 1 -800-527-3426 twice to try to get this resolved and speaking with a manager the second time. I explained that an ignition module is listed as covered under my warranty and when you look up that term on the internet, it says the ignition module is an interchangeable term with ignition coil. I sent them proof of what I was referring to. They still denied my claim and were very unwilling to cooperate or come to a resolution.
Portfolio Protection Vehicles & Services Company Information
- Company Name:
- Portfolio Protection Vehicle Protection Products
- Company Type:
- Ticker Symbol:
- Year Founded:
- Formerly Named:
- Portfolio Protection Vehicles & Services
- 25541 Commercentre Drive, Suite 100
- Lake Forest
- Postal Code:
- United States
- (877) 705-4001
- (949) 727-0393