After-sales warranty / insurance

Been looking at a bike in the shop today - SV650 2 years old
with 3 months manufacturers warranty left - they offered me 1yr,
2yr or 3yr warranty (RAC) for £220, £320 and £450. Also offered
3ys "GAP" insurance for about £250. I wasn't really interested,
but should I be?

 

John McGowan emerged from their own little world to say

They aren't warranties but insurance policies. Rarely worth the money as
they have far too many exclusion clauses IMV.

Gap insurance was discussed here a while ago when Champ bought his nearly
new bike. Most people thought the policies offered by dealers are poor
value.

Put the £450 into a savings account and use the money as a contingency fund
for unexpected repairs. You are unlikely to spend it all in 3 years. But at
least you will have the £450 to spend on items that the insurance company
considers normal wear & tear like brake discs, batteries & shock absorbers.

 

I'd be shopping at a different dealer. IMHO a dealer should be more than
happy to give at least 6 months warranty on something as new as that.
(Most car dealers will give 1 year plus on a 2-3 year old car, ffs!)

 

SteveH emerged from their own little world to say

I think you'll find car dealers include an x year insurance policy in the
purchase price. If I was buying a s/h car I would insist that the dealer
separates this cost out so that I could choose not to buy it if I so
wished.

I think John's dealer has done a good thing by separating the costs out and
leaving the choice to the customer.