Complaint Review: WARRANTY GOLD - Austin Texas

Steve, Mike & No-Warranty from Edmunds.Com, thanks for the vindication regarding my post and it's content and tone. I reported over at Edmunds that I was lucky and recouped most of my lost money from my little excursion into the world of Warranty Gold. My credit card company made permanent, a chargeback for the original deposit and the first payment, refunding me $549 of the $849 I paid out. And I had also earlier gotten $100 from WG for 2 referrals, which I had made back before I first heard of all these problems. So bottom line, cash-wise, I am only out $200 for this. But still, I wanted a contract and found one from someone else, a direct-insurer arrangement, not RRG. However, that did not have as long a term on the mileage side, it has a deductible and does not cover my convertible top's mechanical, something my WG contract would have, if they had remained viable, (they only excluded the fabric for the top itself - at least that is what Gabe told me when I asked, at the time of purchase). I just hope my posting here and at Edmunds helped keep some people from losing money to WG, like it did for Mike.

Steve, Mike & No-Warranty from Edmunds.Com, thanks for the vindication regarding my post and it's content and tone. I reported over at Edmunds that I was lucky and recouped most of my lost money from my little excursion into the world of Warranty Gold. My credit card company made permanent, a chargeback for the original deposit and the first payment, refunding me $549 of the $849 I paid out. And I had also earlier gotten $100 from WG for 2 referrals, which I had made back before I first heard of all these problems. So bottom line, cash-wise, I am only out $200 for this. But still, I wanted a contract and found one from someone else, a direct-insurer arrangement, not RRG. However, that did not have as long a term on the mileage side, it has a deductible and does not cover my convertible top's mechanical, something my WG contract would have, if they had remained viable, (they only excluded the fabric for the top itself - at least that is what Gabe told me when I asked, at the time of purchase). I just hope my posting here and at Edmunds helped keep some people from losing money to WG, like it did for Mike.

Steve, Mike & No-Warranty from Edmunds.Com, thanks for the vindication regarding my post and it's content and tone. I reported over at Edmunds that I was lucky and recouped most of my lost money from my little excursion into the world of Warranty Gold. My credit card company made permanent, a chargeback for the original deposit and the first payment, refunding me $549 of the $849 I paid out. And I had also earlier gotten $100 from WG for 2 referrals, which I had made back before I first heard of all these problems. So bottom line, cash-wise, I am only out $200 for this. But still, I wanted a contract and found one from someone else, a direct-insurer arrangement, not RRG. However, that did not have as long a term on the mileage side, it has a deductible and does not cover my convertible top's mechanical, something my WG contract would have, if they had remained viable, (they only excluded the fabric for the top itself - at least that is what Gabe told me when I asked, at the time of purchase). I just hope my posting here and at Edmunds helped keep some people from losing money to WG, like it did for Mike.

Steve, Mike & No-Warranty from Edmunds.Com, thanks for the vindication regarding my post and it's content and tone. I reported over at Edmunds that I was lucky and recouped most of my lost money from my little excursion into the world of Warranty Gold. My credit card company made permanent, a chargeback for the original deposit and the first payment, refunding me $549 of the $849 I paid out. And I had also earlier gotten $100 from WG for 2 referrals, which I had made back before I first heard of all these problems. So bottom line, cash-wise, I am only out $200 for this. But still, I wanted a contract and found one from someone else, a direct-insurer arrangement, not RRG. However, that did not have as long a term on the mileage side, it has a deductible and does not cover my convertible top's mechanical, something my WG contract would have, if they had remained viable, (they only excluded the fabric for the top itself - at least that is what Gabe told me when I asked, at the time of purchase). I just hope my posting here and at Edmunds helped keep some people from losing money to WG, like it did for Mike.

The comment regarding Warranty Gold may have knowledge NWIG may have been in financial trouble is probably correct. If Warranty Gold used an outside actuarial firm they may have know their product was under reserved from the beginning or that NWIG was not in good financial shape. The reason companies use RRG (risk-retention group)insurance is that it is cheap it does not have to comply with individual state laws. BTW: Gabe I have failed to understand how using your name in John's sentence causes anyone to be a middle aged hot head with a chip on their shoulder...it would appear you're trying to soften the truth...buts that is just my opinion.

Hey Gabe, allot of people read this site. I spoke to you on Sept 10th 2003 about the contents of this article and your name being posted when you tried to sell me a contract. You said people could post anything they wanted to, you knew WG had issues. Do you really think that for one minute we think you sat there at WG selling contracts, not knowing the company and your job were in jeopardy? Get a life and start being honest with people and yourself. Thanks to John for posting this in Sept. If I had not seen this I could have been another one of your victims. Not your Customer, NO SALE

For the record "John", you implied that I knew back in late 2002 that Warranty Gold was having some sort of financial troubles. That is VERY inaccurate. All I did was my job...sold extended service contracts...then the company had troubles with their insurer, then they went bankrupt. THAT is the order that it happened, not the other way around. For you to try and post my name on this website and imply that I am some kind of crook shows your lack of intelligence and shows that you are probably a middle-aged hot head with a chip on your shoulder. Yes, you got taken to the cleaners on your warranty...guess what, so did I (I had a plan on my car). I, too, am a victim of these unfortunate circumstances. You may be out the cost of your measley extended warranty, but I am out of a job. So why don't you go posts someone else's name on the internet. For the record, you can post my name wherever you want, I don't really care. If you wanna match wits then just let me know. Unfortunately, no one really cares about your situation...nor does anyone care about mine. The milk has been spilled, no sense in crying over it. You and I are probably 2 of 10 people that read your post. Move on, buddy. X-Employee of the now defunkt Warranty Gold