Mercury Product Protection - Extended Warranty

[Tin Man]

Just wanted to know if those that have purchased this warranty, and have used it, believe it to be well worth the cost.
There are both Gold and Platinum versions. Platinum being more expensive and covering more (see attached).

The cost for a 60hp is approx. $1300 for an additional 5 years to the included 3 years making a total of 8 years of coverage.
Pricing sheet is from 2021 so I am approximating the $1300 cost.

I'm typically not one to purchase warranties for vehicles, appliances, etc, but these motors are pretty sophisticated....more than what I am accustomed to working on.
I will be performing my own service work (if the warranty does not prohibit it!).

Thanks!

 

[FuzzyGrub]

FWIW: When I reviewed the plans, Gold esentially is mechanical, Platinum adds all the eletrical/electronics. I got 3 years of Platinum + 2 years of Gold with the purchase of the pontoon boat. I feel that is good amount to shake out any early problems. I turned down any additional insurance. They said Mercury will give me more opportunities to buy it in th future.

FWIW: I think the Merc 60hp 4-strokes have been around quite awhile, and are reliable.

 

[Tin Man]

Yes, I also received the "Get 5" Mercury promotion that adds 2 additional Gold years to the 3 Platinum that new motors come with. The promotion ended 3-31-23. At first they said I didn;t qualify as I am picking boat up in April. I told them I put money down on boat in March during the promotion and would have purchased but boat was not in dealer stock. They double-checked and said I did qualify!

I decided to also decline all additional warranties. Yes, the Mercury warranty is available up until the original 3 year warranty ends. Must decide and purchase BEFORE the 3 year warranty expires. The warranties increase by about 20%-30% per year!

 

[airshot]

Yes, I also received the "Get 5" Mercury promotion that adds 2 additional Gold years to the 3 Platinum that new motors come with. The promotion ended 3-31-23. At first they said I didn;t qualify as I am picking boat up in April. I told them I put money down on boat in March during the promotion and would have purchased but boat was not in dealer stock. They double-checked and said I did qualify!

I decided to also decline all additional warranties. Yes, the Mercury warranty is available up until the original 3 year warranty ends. Must decide and purchase BEFORE the 3 year warranty expires. The warranties increase by about 20%-30% per year!

Another one of the gambles in life...do we or don't we ..that is the question??

 

[Ray Clark]

"They said Mercury will give me more opportunities to buy it in the future."

I have a 20hp Merc purchased new in February 2021. I, too, declined added warranty coverage when I bought the motor.

Mercury has contacted me a couple times about extending the warranty service. The way I figure it, Mercury wouldn't be reaching out to me unless that added warranty coverage was a high profit margin for them. They've built many millions of motors and they know their risk in extending that warranty on my small motor. They know the numbers are against them having to spend a single dollar of labor or parts on that motor. That means that my risk is low, and well within my tolerance to assume that risk. I'm not planning to purchase extended coverage. Now, if something comes up this season that changes my risk profile with regard to that motor, then I can change my mind, as long as it's done by February 2024.

 

[airshot]

If I had one of the newer 350 hp and up mechanical wizards on the water, I might reconsider, those repair bill could be out of sight !!! But a smaller motor, worth the gamble unless you start having issues.

 

[Tin Man]

UPDATE:

After one year of ownership, I recently received a letter from Mercury to add their product protection.

When I purchased my boat new it came with 3 years factory Platinum + 2 years of Gold coverage (Gold was a promotion at the time at NO additional cost).

Current Offers:

1. Upgrade 2 years of Gold to Platinum $140.00
2. Upgrade 2 years of Gold to Platinum and ADD 1 additional year $440.00
3. Upgrade 2 years of Gold to Platinum and ADD 2 additional years $660.00
4. Upgrade 2 years of Gold to Platinum and ADD 3 additional years $840.00

Thoughts?

 

[Stand Up]

I don't buy into extended warranties. You have enough warranty as it is. Not to mention, the service department usually tries to weasel out of warranty with a plethora of excuses that will leave you with a bad taste.
In my opinion, you don't need it.

 

[LDUBS]

I know nothing about Mercury's extended warranties. My advice in general would be to read the contract thoroughly so you know of coverage limitations. Might be comprehensive or might have so many exclusions as to make it not worthwhile.

 

[airshot]

Warranty claims often take a back seat to cash paying customers that want their repairs pronto. Most warranty claims require approvals and inspections before they are completed, dealers don't like doing them, so they get pushed back.

 

[Ray Clark]

To follow up on my earlier post, I didn't buy the warranty and now I'm no longer eligible since my standard warranty has expired. The motor is running fine. Because of the way I fish, the number of hours on the motor are very low.

My position on extended warranties has not changed: You're betting the motor is going to break. Manufacturer is betting it won't. Manufacturer has millions of long term examples that informs his bet. Buyer has only a few examples informing his bet. Manufacturer is expert at making sure their risk is limited (terms and conditions). Buyer typically is not. That's why these warranties are very profitable overall for the manufacturer.