Anyone have experience with PortfolioOne extended warranty?

[RKCRLR]

I'm not a big fan of extended warranties (actually service contracts) because the house usually wins so I usually decline them or purchase the OEM backed service contract from a discount seller after I've purchased the vehicle. I was all prepared to decline everything the F&I guy was going to offer but he threw me a curve ball. If I drive this truck like my last truck (which I've had for 20 years - I only drive a truck when I need a truck) I will probably only put a few thousand miles a year on it and expect to keep it a long time (it will probably be the last truck I buy). He offered me an unlimited time and 75K miles Portfolio One service contract for $2500 and since I have 60 days to cancel it for a full refund I decided to go for it.

It is an exclusionary contract and the coverage is similar to the Mopar service contract with a $200 deductible. The biggest problem I see with it is they encourage you to return to the selling dealer for repairs and give you a $50 discount on the deductible if you do. The selling dealer will handle all the paperwork if I return to him for the repairs and, per the contract, I'm required to go to him if I'm within 20 miles of the selling dealer. However I can take it to any certified dealer if I'm outside of 20 miles (I live more than 20 miles away) but I'll probably have to handle the paperwork and go through the hurdles of getting the repair pre-approved if I do. I can cancel it after 60 days for a pro-rated refund and $25 cancellation fee. It is allowed a single transfer to a new owner for a $50 transfer fee.

I've done some research and Portfolio seems like a reputable company. It has been accredited with the BBB since 2007 and has an A+ rating with them. The provider/obligor is Plateau Service Company which has an AM Best rating of Excellent. Does anyone here have any direct experience with them?

 

[4FishLimit]

I bought a PortfolioOne extended warranty from the dealer we bought my wife’s Grand Cherokee Ecodiesel from a few years ago.

It was a full coverage deal for 3 years and unlimited miles. I think we paid around $1200 for it.

The reason I picked it up is because I noticed the steering rack was leaking when looking the vehicle over after the test drive, which is common for that vehicle. Knowing at the time it was $2K or higher repair (front subframe has to be dropped in order to swap the rack), I figured at the very least I would be getting a discount on the work.

I waited a few months before taking it in, but they had zero issues with approving and paying for the repair. The dealer found a couple of other items that needed to be addressed at the same time and those too were covered. I paid my $100 deductible and that was that.

Total cost for the repairs done was around $2500.

 

[DannoHD]

I have the P1 ext warranty for my 2019 ram 2500, think I paid $2k for a bumper to bumper 100k warranty to pick up when the stock 3-36 expired. so far it paid for a delaminated Uconnect and controller for the stereo. it was $50 fee and was handled quickly without hassle. i will be adding another 5 year on it when this one expires. no complaints.

 

[g00fy]

I'd suggest calling them directly with a few questions and see what kinda vibe you get. If you call and get a grueling phone tree that ends in some country on the other side of the planet, stay away for sure, however if you get to a pleasant/helpful domestic agent within a couple button presses that'd be a good sign.

I got suckered into a 3rd party warranty on my wifes Diesel Equinox by a slimy finance guy that assured me a few times it was a genuine GM warranty and then rushed us through the paperwork so I missed it during signing. Turns out it was a CNA brand warranty, but the first time I used it I was pleasantly surprised, when I called I got a nice helpful agent based in Arizona, the claim was approved no problem, and so was every claim after that. So far that warranty paid for itself 3 times over before it expired.

 

[RKCRLR]

I'd suggest calling them directly with a few questions and see what kinda vibe you get. If you call and get a grueling phone tree that ends in some country on the other side of the planet, stay away for sure, however if you get to a pleasant/helpful domestic agent within a couple button presses that'd be a good sign.

I got suckered into a 3rd party warranty on my wifes Diesel Equinox by a slimy finance guy that assured me a few times it was a genuine GM warranty and then rushed us through the paperwork so I missed it during signing. Turns out it was a CNA brand warranty, but the first time I used it I was pleasantly surprised, when I called I got a nice helpful agent based in Arizona, the claim was approved no problem, and so was every claim after that. So far that warranty paid for itself 3 times over before it expired.

I called them to ask them some questions but they wouldn't talk to me about my service contract until it showed up in their system. They said it could take up to a month to be accessible in their system.