New 2001 911 Cabriolet + Opinions on this extended warranty?... 9/17/13

About to buy a 2001 911 Cabriolet... Called AAA and they recommended National Administrative Solutions for coverage... We came up with $2269 for 3 yrs/ 36k... What do you guys think about this coverage... NASC Silver Contract Covered Components: Gasoline/Diesel Engine: Cylinder block, cylinder head(s) if damage by internally lubricated parts. All internally lubricated parts including: pistons, piston rings and pins, crankshaft and main bearings, connecting rods and rod bearings, camshaft and bearings, pushrods, rocker arms, valves, valve springs, seats and guides, lifters, followers, oil pump, timing chain, timing belt and gear. Harmonic balancer, dipstick & tube. Valve covers, timing cover, and oil pan if damaged by internally lubricated parts; vacuum pump, engine mounts. Transmission: Transmission case, transfer case and pan if damage by internally lubricated parts. All internally lubricated parts including: torque converter, vacuum modulator, internal linkage, and transmission mounts. Drive Axle: Housing(s) and cover if damage by internally lubricated parts. All internally lubricated parts including: axle shafts, universal joints and yokes, constant velocity boot or joint or both, wheel bearings/hubs, drive shaft center bearings supports, propeller shafts, locking hub mechanisms. Steering: Steering box and rack and pinion unit and all their internal lubricated parts including: power steering pump and cylinder, main and intermediate steering shafts and couplings, steering knuckles; pitman arm, idler arm, tie rods ends, drag link. Brakes: Non - ABS master cylinder, power booster, calipers, wheel cylinders hydraulic lines and fittings; proportioning valve, backing plates, springs, clips and retainers, self-adjusters, parking brake linkage and cables. Electrical: Alternator, voltage regulator, starter motor, starter solenoid, distributor (excludes cap, rotor and wires), window regulator, heater A/C blower motor. *Seals and gaskets are only covered if needed in conjunction with a covered repair. Personal Protection Benefits Towing: We will reimburse You for Your actual towing cost up to a maximum of $60 per occurrence, if the tow was necessary because of a Mechanical Breakdown of a part covered under the Contract. Any payment shall be for actual towing or roadside charges in excess of any applicable reimbursement from the manufacturer or any other towing or road service Coverage. Rental Car: We will reimburse You for rental of a replacement vehicle for substitute transportation if there is a Breakdown of a covered part under this Contract and the approved labor repair time is a minimum of 4 hours. Our cost is limited to $30 per day. Each 8 hours of approved labor time Counts as 1 day, up to a maximum of 5 days. The substitute transportation must be supplied by a duly licensed Rental Agency and is in excess of any applicable reimbursement from the manufacturer or any other substitute transportation coverage. Locksmith Service: If You lock Your keys in Your Vehicle or lose Your keys You will be reimbursed up to $40 for the service call of a locksmith to open Your Vehicle. Key cutting or other labor/parts are not covered by this benefit. Out of Gas/Dead Battery: You will be reimbursed up to $40 for a service call to jump-start or deliver emergency fuel to Your Vehicle. The cost of the fuel is not reimbursable. Trip Interruption: Trip interruption occurs when a Breakdown disables Your Vehicle more than 100 miles from Your home, You are stranded overnight and covered repairs are not completed. Trip interruption benefits are for motel and restaurant expenses incurred by You during the repair period. When such a Breakdown occurs, You will be reimbursed up to $100.00 per day of trip interruption benefits for each 8 hours of approved labor time, up to a maximum of 4 days.

That price sounds similar to a 4 year warranty I bought for an '06 Cayman S three years ago. The car was low mileage and I bought from a dealer and therefore could not ask the prior owner anything about the history of the car. I suppose the Cayman is not as likely to suffer an IMSB nor a RMS problem as the 996s are, but there is probably a similar likelihood of failure for most other issues between the two. As yours is an older model, this might be a good deal for peace of mind. The exclusion that notes that seals and gaskets are covered only in conjunction with a covered repair seems bad as it might not cover a leaking RMS. I could make a case either way about whether extended warranty coverage is a good thing to buy or not. Typically I don't buy these when offered. But as noted above, I did with the Cayman.

I see also that window regulators are covered. Apparently this is a common failure item on 996s. No mention of cabriolet components however. Perhaps good attention to verity all is well with the convertible pumps, actuators, etc. before purchase would be wise.

Check if there is a limit on the amount they pay in claims. Sometimes they can be limited in amount per claim.

That is a great buy. I thought they did not cover Porsches. You can figure anything over ten years is going to be 1K to 1.5K per year

Thanks for the response guys... Still looking into it... My mechanic here in town says that the best company he has worked with over the years has been LDS.. Gonna check them out. Crossing fingers.

I think the seals and gaskets clause may be a deal breaker. If a seal or gasket fails and causes subsequent damage you are not covered. By my reading this warranty may not cover an IMS failure. I could however be mistaken.

Quotes source post: 10770854

That is my take as well. This: "if damage by internally lubricated parts" appears to let the IMSB off the hook as it is not an internally lubricated part. It is a sealed bearing. Even a leaking IMS end plate or an RMS or a cam shaft cover or cam plugs do not appear to me to be covered. Those are the biggies in terms of leaking seals. (Just had an RMS replaced in my 03 Turbo at 110K miles: $1700.)

I have good and bad things to say about the warranty which my wife took out when she surprised me with a 99 cab C2 2 and a half years ago. Covered for 30,000 miles or 3 years (which ever came first). A simple thing like inside lights not working, they did not cover, yet they exchanged my gear box for a reconditioned one within the first year. Nothing else has gone wrong with the car which I couldn't do myself. So in my case, an extended warranty was a good choice on my wife part in the buying of the car. However I will not be extending it any further. I will stand aside about $5000 for things happening which I might not be able to DIY. the policy cost about $2000 so my wife THINKS... the cost of the reconditioned gearbox cost them around $5000 from California. I have done 23000 Miles and used the policy one time. So if something big happens. I hope it happens in the next $7000 miles or the next 7 months (which ever comes first).

FWIW, I had an email in my inbox with quotes for an extended warranty when my IMS failed. If you think you want a warranty pull the trigger! It sounds very cheap to me. I imagine there are a lot of limitations.

Quotes source post: 10771994

I actually wrote the check for $4,700.00 for 36/36 coverage which was basically a bumper to bumper without the exclusion clauses the OP's offer has. Would have included emissions, including catalytic converters, but the dealer neglected to finalize the contract on time so I was left without the warranty. And THEN I lost the engine, and THEN I had a cat fail. Fortunately Porsche did provide a new engine under goodwill. I am all for 3rd party warranties on these cars, but I would pay to have top tier coverage. Keep shopping.