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.
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I bought the highest coverage (and most expensive plan) to have peace of mind in the event a major breakdown happens to my certified used car. After two years of normal use, the transmission broke. I called them and was told to take it to the place I purchased it. I informed them I live now more than 200 miles away, so I was told to take it to the Chrysler dealership where I had to pay $250 diagnostics fee, when they came up with the estimate of $3,400 dollars, I was asked to submit maintenance records, which I had and showed them. After that, they called and denied my claim, because I had replaced the tires with a slightly taller ones, and because of that, they could not pay for the repair.
I bought the tires at Costco and they told me they were within the proper recommended size. So, I would not recommend spend thousands of dollars on a warranty that when needed, they will go to any extent to deny payment. I wasted about 10 hours in phone calls and trips to the repair shop, my cars was there for one and half week and ended up paying the total myself.
Would not recommend this company for any of the products they offer. I work in insurance and I know how long claims generally take. I had a total loss on 08/31/2018 and it is currently 02/06/2019 and no payment has been received from Portfolio. I had all paperwork that was requested submitted by 09/11/2018 (which by the way is an astronomical amount of work and paperwork needed compared to any GAP company I've ever dealt with). And even after they received all the paperwork they requested they still haven't approved the claim. It has been 5 months. I've called in 5 times a day every business day since 10/01/2018 with my average hold time being 10 minutes. My lender has also called in several times in an attempt to get the claim approved. THIS COMPANY IS AN ABSOLUTE JOKE AND IS THE REASON EXTENDED WARRANTIES/GAP INSURANCE HAS SUCH A BAD REP. I wouldn't trust them covering a hot wheels toy car.
I have been using Portfolio for many years and every time I call Beverly in VSC Administration with a request it gets handled. I can always count on Beverly to handle any request quickly and completely. Even if my request is outside Beverly's department, she works and follows up to make sure it gets handled. Beverly is my "go to" person when I need anything regarding contract tracking, inputting, rating, remitting etc. She is always professional, always polite and always happy to help. Thank you very much Portfolio and thank you very much Beverly!
My car was in the shop for 1 whole week for about a 2 to 3 hour repair. The claim was filed and an urgent was sent for me needing my car because of travel and holidays. The shop waited on the reviews team for a few days and finally was approved. Well in the meantime you cannot rent a car until the reviews are approved and when they are the pay a whopping $35 towards the rental (not even half). One 1 week to the day I went to pick up my car and the shop told me they are still awaiting payment.
So I got on the phone again with Portfolio (I have been on the phone with them all week at least 25 calls and 4-5 hours on the phone total). This morning I was hung up on 2 times and placed on hold for 45 minutes, was talked to very rudely by an associate and hung up on me again. Talked to manager 2 times during the week and she was not helpful at all. This company is the reason extended warranties have a bad place in the world. I would not at all recommend this place, it is a joke and very hassling to deal with, they make it so difficult you just want to pay the repair yourself and move on. O stars from this guy!!!
The first issue is that they require that the vehicle be taken to the seller. Even if the seller has no maintenance or repair facilities. The Second issue is that I was told it was a Bumper-Bumper warranty. It is quite the opposite. It only covers things that are specifically listed in the policy. Frankly, this policy covers very little and uses ridiculous things to keep from paying.
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Warranty reimbursement not what I was told. By the time that they read the claim 2 months had already passed and still no resolution. Read claim on 9/11, 60 days passed when it is read they might answer. Sent the email on 7/13, it was read on 9/11 and it's 60-90 days after that they might answer. Will never recommend them or buy a warranty from a dealer again. You're better off buying your own from a reputable company.
I can't believe the Portfolio Extended Platinum Used car Warranty service wants the mechanic (a trusted Certified Mechanic) to use USED Parts to repair my car. I paid good money for the extended premium extended warranty. I was also surprised to find out that they keep refusing repair of parts that are clearly covered under the warranty in writing on the contract. They also refused to pay for the rental car during the diagnosis phase of repair and only covered up to a total of 5 days (smallest and cheapest car available) per PO#. They took weeks to make a decision and the auto mechanic had difficulty getting them to call him back to get approval for the repairs.
Portfolio also told the mechanic that they needed to come see the car before they could make a decision. This is still in progress of being approved and has not yet been approved. I'm very disappointed in this terrible Extended Warranty Company that Gladstone Mitsubishi sold me for my Chrysler 300 that I purchased off a separate lot, that I didn't realize was affiliated with. I'm super dissatisfied with both the Warranty Service and the Warranty contract and would never purchase another warranty from either company again. Beware of this fraudulent company!
Bought a Portfolio extended service contract on my son’s Nissan Sentra as a “just in case” because he was going to graduate school a 12 hour drive from our home. Boy am I glad I did. The car had multiple issues (air compressor, transmission). My son was able to get the issues taken care of with relative ease. They even gave him a rental car so he wasn’t stuck without a car while they repaired his car. Thanks, Portfolio.
Portfolio refused to cover the labor to replace 2 year old TCI trailer axles on our Genesis Supreme with excessive camber that dangerously wears the outside edge of all four tires. No damage was done to the axles, and they still refused. Don't waste your money buying this extended warranty.
Just want to share my personal positive experience I had with this company. My car was Total Loss due to accident. Express Gap paid off the difference of interest, depreciation as well as my $1000 Insurance Deductible. I could've end up still owing over $6000 for my Total Loss vehicle. I see no valid reason to buy any car without Gap Insurance.
Best decision I have made for covering my leased car. My dents were fixed as I was in the lease and my lost key was replaced at no cost to me. Definitely recommend this product. Plus it provides 24 hour roadside assistance.
I purchased a Kia Sorento in June 2017 and I wasn't sure about buying GAP at first but boy am I glad I did! Sadly someone crashed into my parked car about 4 months later and I had to open a claim with my insurance company and with Portfolio for GAP. I luckily did my research and was able to upload all the required documents on their website. I was able to track the claims progress on their site and see that a claim payment was sent to my lender about two weeks later. So happy that GAP took care of my outstanding balance and I was able to finance a new vehicle without having old debt from a totaled car. Thank you Portfolio!
I made a claim for 456.00 on a motorhome policy that costs over 7 thousand dollars that after my 200 deductible = 256 and it was held for 6 months with every excuse why it wasn't paid like it's still sitting on the desk of the person who writes the checks! Called the broker in CA and got her to light a fire under them! I Just now called to make my next claim and it's a 45 min wait to even speak with someone. Seems most reviews are similar to mine. So take a note and pass on these guys.
Submitted the required information 3 times via regular mail. They kept giving me a different box number each time saying the post office gave them a new number. I called all the phone numbers in the warranty and online numbers and no real answers as to why they are not honoring the warranty. This is a very dishonest company and they rely on the dealership to sell their policies. I suggest to go after the dealership where you purchased the warranty.
On April 13th my car had a check engine light. I brought my car to my local BMW dealer to get it diagnosed. It turns out my car had an oil gasket leak, an A/C evaporator leak, and needed new thrust rod bushings in the front of the vehicle. All of these repairs were going to cost around $5500. Luckily, I bought the "exclusionary" extended warranty to cover the cost of repairs. I was a bit skeptical of the warranty, seeing all of the negative feedback Portfolio has received from other customers. However, after the inspector came out to look at my vehicle, they ended up approving all of the repairs.
This warranty really came in handy, saving me a bunch of money. The only downside of the warranty is that it took a long time to get my car back, about two and a half weeks. You probably need to get a loaner vehicle from the dealer or have other arrangements set up if you don't have a second car to drive. Other than that, I was very pleased with the warranty and glad it only cost me a $100 deductible. Thanks Portfolio.
I purchased a car for my son October 2016, the car was totaled December 2017. I submitted a claim with Portfolio immediately, who asked me to provide several supporting documents to complete my claim - which I did. After 30 days of review, Portfolio paid the lien-holder $82 even though my balance was $1,100. Apparently, because my insurance company deducted money for preexisting condition (other dents and dings) of the car Portfolio would not cover the remaining balance. This company should be out of business. This company is a bunch of hustlers. I purchased the car from Fairfield Ford with a dings. I totally want to start a class action against Portfolio for fraud to consumers.
I purchased the extended warranty on my new used car. I had a brake sensor highlighted on my dashboard stating it required immediate attention. It was an emergency that I get the brakes fixed. I got them fixed at the local mechanic shop. I contacted them I asked them if they were going to cover the charges, they stated that it would be covered. That was nine months ago. They kept telling me I need to submit different proof that the job was done. I did that, then they stated they weren't going to cover it. As far as I'm concerned to the future consumers out there do not purchase Portfolio extended warranty protection. They do not do what they state they will do. Save your money and pay for the expenses yourself.
These people are a joke. I first called First Extended Service corp after a claim at dealership was denied. They couldnt tell me anything other than what the claim itself said. They gave me the number to Portfolio who directed me to the claims dept within their company. Per Jose - "All we do is process payments". He gave me the number to First Extended Service...again. I explained that I have already called that number and was told to call Portfolio. This is a never ending circle of unresolved crap. DO NOT WASTE YOUR TIME/MONEY WITH THIS RUNAROUND. And avoid dealerships that work with these companies!
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.
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.
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