4yr. Extended Warranty from Pinnacle--any good?

FNG

Seaman Apprentice
Joined
Aug 23, 2001
Messages
36
I have a 2001 Hydra-sports WA with an Evinrude 150 Ficht, 167 hours so far. As some of you may recall my posts of already having some minor issues with it, I am looking into buying an extended warranty. Talking to my dealer about it, they gave me the info on a company called Pinnacle. Its not offered by the manufacture. According to my dealer its better anyway. They told me about 30% of their customers buy this warranty and every time my Dealer has had to submit a claim it goes through smoothly. My Dealer likes dealing with Pinnacle better than dealing with Evinrude.<br />Through the Pinnacle plan I have 3 months left to take the plan. After 11 months of ownership the plan is not offered as a new engine warranty. The plan is going to cost $1500 and it gives me 4 years worth of coverage. My dealer explained the coverage and I read the pamphlet. In short it basically states that just about everything is covered with very few exceptions like wiring harnesses and rubber tubing unless failure due to a covered part. The only way to void the warranty is if I fail to keep up with proper maintenance and if I let the 2 cycle oil run dry or if I never change the gear case fluid. In other words lack of lubrication voids it unless its caused by a oil delivery problem. In that case everything is covered. <br /><br />Sounds like a no brainer to me, $375 dollars a year broken down. With the high cost of engine repairs sounds like an easy decision. Just one major repair can be thousands more. I have already gone through 2 lower Units and an oil sending unit covered by Evinrude. I have one more season on the Evinrude warranty. If a lower unit goes after that it'll cost me around $2500.<br /><br />So after my long descriptive post, my question is this: Does anybody have experience with Pinnacle and is the company reputable?<br /><br />Thanks so much for all your advice. This is a great Web site for newbies like myself. FNG = F*ck'in New Guy. :D
 

fone_man

Senior Chief Petty Officer
Joined
Jul 8, 2001
Messages
701
Re: 4yr. Extended Warranty from Pinnacle--any good?

Product or Prpgram is only as good as company that represents it...<br /><br />Dealer makes money both ways:<br /><br />1. by selling contract...<br />2. by servicing the above contract<br /><br />What happens when Pinnacle decides not to renew his agreement or let this dealer service these contracts??? Only one that wins is dealer!<br /><br />Take your $1500.00 put in Money Market account, maintain your boat & engine the correctly & after 4 years see how much money you have left!!! I believe then you are the winner!!!<br /><br /> :cool:
 
D

DJ

Guest
Re: 4yr. Extended Warranty from Pinnacle--any good?

fone_man said it all. You're the only loser if the dealer and the warranty company get sideways.
 

Pursuit2150

Chief Petty Officer
Joined
Dec 3, 2001
Messages
553
Re: 4yr. Extended Warranty from Pinnacle--any good?

When Bombardier took over OMC. ALL previous warranties,agreed to prior to that date were NULL/VOID.
 

FNG

Seaman Apprentice
Joined
Aug 23, 2001
Messages
36
Re: 4yr. Extended Warranty from Pinnacle--any good?

Thank you all for your posts. I feel your only giving me your opinion though. I was hoping to get some input about the companies reputation (Pinnacle). <br /> <br />I feel an extended warranty is a good buy. My motor is only one season old and I have had the lower unit replaced twice. Also had the oil injection system replaced. I have one more year under my factory warranty.<br /><br />In your opinion its a waste of money, but I see that any insurance cost money. $375 a year for 4 years of complete engine coverage sounds smart to me. One major repair could destroy my entire boating season or more. Tough times as fallen on me with our current state of economy. I could not afford to put more than a few hundred into my boat at a time now. Maybe if I haven't had any problems up to this point my attitude about my Evinrude would be better. <br /><br />Today it cost a couple hundred just to bring your boat in to the dealer. Why do you guys feel it such a waste of money? Do you guys run new engines, or do you have old engines you maintain yourself? I am no Marine technician. I was an auto tech for 8 years, but I have no false illusions of being able to fix major marine engine problems on my own. Nor do I like the idea of being stuck out at sea waiting for a tow boat because I tried to save a buck or two.<br /><br />Please, if anybody has had any good or bad experiences with the Pinnacle extended warranty please respond.<br /><br />Thank you
 

fone_man

Senior Chief Petty Officer
Joined
Jul 8, 2001
Messages
701
Re: 4yr. Extended Warranty from Pinnacle--any good?

I now see the whole picture... you have had numerous problems before with engine/lower units & are anticipating more... could be quite possible that an extended warranty would be a good buy in your circumstance... go for it. <br /><br />But to fill you in... I drive a 86 Honda Civic now with 143000 miles which I bought for less than $800 in 1998 which included taxes & lic & I do not see a mechanic... plus my tow vehicle (81 Ford PUP w/81000 miles) for my 86 FourWinns is 21 years old which I bought 2 years ago for 1000 plus repairs & accessories & I wouldn't hesitate to pull to CA & back!!! Most of us... repair & maintain our own cars, trucks, boats, etc... why let someone else do it when we do it right the first time... Plus I was an ASE certified mechanic for 10 years plus!!!<br /><br />I would contact the Better Business Bureau in Pinnacle's corporate location to see if any complaints have been filed against thier company. Plus call boat dealers in your area to see who services these contracts & what thier experiences have been... if you want to spend the money you are going have to do some leg work yourself because as you have already found out... we don't like 'em (extended warranty) but as I said earlier might be best option for you... So GOOD LUCK & I will try & do some research on my end for you.<br /><br /> ;)
 

fone_man

Senior Chief Petty Officer
Joined
Jul 8, 2001
Messages
701
Re: 4yr. Extended Warranty from Pinnacle--any good?

This might help you....<br /><br />Pinnacle Protection Plans<br />660 Griswold Road Suite 103<br />Northville, MI 48167<br />(888) 999-6860 Fax: (248) 735-5549<br />Product Categories:<br /> Extended Warranties<br /> Financial Services<br /><br /> ;)
 
Joined
Nov 15, 2001
Messages
52
Re: 4yr. Extended Warranty from Pinnacle--any good?

FNG, I now where you are coming from. I just bought a new 2001 Searay 180 at the end of the year, and I also bought an extended warranty for about $1300.00. It gives me and additional 5 years on motor and outdrive. I also looked at it as a cheap sense of relief incase something goes wrong. This boat isn't like a VCR that breaks, in that case you toss it out and buy a new one. I decided that I was betting something will break, and the dealer hopes it won't. When I saw what it costs for even the smallest repairs, i felt it was a wise move. Good luck.
 

fone_man

Senior Chief Petty Officer
Joined
Jul 8, 2001
Messages
701
Re: 4yr. Extended Warranty from Pinnacle--any good?

The Better Business Bureau serving zip code 48167 is:<br /><br />BBB of Detroit & Eastern Michigan<br /><br />WWW: http://www.detroit.bbb.org <br /><br />Email: info@detroit.bbb.org<br />Phone: (248)644-9100<br />Fax: (248)644-5026<br />30555 Southfield Road, Ste. 200<br />Southfield, MI 48076 -7751 <br /><br /> ;)
 

FNG

Seaman Apprentice
Joined
Aug 23, 2001
Messages
36
Re: 4yr. Extended Warranty from Pinnacle--any good?

Fone_Man and SkippersMinnow,<br /> <br /> Thanks a lot guys. That's the kind of response I was looking for. Fone_Man wow great info. You beat me to the punch. I tried finding a web site for Pinnacle yesterday and came up empty. Thanks a lot for your time to the both of you...especially Fone_Man! I think I am going to go for the Insurance. My Dealer couldn't say enough good things about the company. Like I had said earlier, my Dealer has better luck getting warranty work done under Pinnacle than they do under Evinrude. Pinnacle pays my dealer shop rate for their time while Evinrude does not, which means they will be very willing to do as much warranty work as needed for me. I am going to check out the BBB to be sure their isn't any complaints against the company.
 
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