You are not reading the information we are providing you, or doing research, and are therefore ill-informed. You can continue to say the incorrect things you are saying. In the material provided you is the underwriter for the coverage in case the company goes bankrupt. The fact that the deductible per visit is $100, compared to Tesla's $200, is a substantial difference. Perhaps the biggest disadvantage is that some Tesla service centers don't want to communicate directly with the third party warranty company. You may need to send the estimates to X-Care or pay for the repairs upfront and get reimbursed. X-Care seems so far to be doing a good job at minimizing this inconvenience. As other third party service providers come online, this will likely become less of an issue. I still have not decided to buy any extended warranty, but I am looking at the alternatives and seeking information so that I know my options.
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Real life experience with Xcelerate warranty?
- Thread starter Physicslawyer
- Start date
Thanks for the questions, happy to shed some light into the issues raised above.
Firstly, XCare is partnered with Endurance Dealer Services for administrative support, but we directly control approvals/denials of claims, and our process is purposefully separate from the other offerings. We have Tesla/EV trained people who answer our dedicated claims line, who "speak EV" and understand Tesla process. We are financially backstopped by AmTrust Financial, an AMBest "Excellent" rated insurance company that has been in business for over 20 years, and went through 2008 financial meltdown unscathed. Both AmTrust and Endurance are contractually obligated to service XCare regardless of what may happen to our company, but having 5X'd last year, and projected to 8-10X this year, we are growing and becoming ever more able to take care of our community and expand our services even beyond Tesla to all pure BEVs. As for the Tesla ESA, we never intended to compete with the ESA, but rather extend coverage ability to those outside of the "cookie cutter" 2 year/25k or 4 year/50k" box, and we are able to extend coverage out an additional 10 years or up to 180k miles. For people that are heavy users, commercial users (Uber/Lyft) or otherwise have long commutes, we can cover them. Our mission is to provide our community with the support they need to remain in their EVs without the financial burden of a huge bill, that often comes at an inopportune time financially for many. I consider it a personal extension of my time at Tesla to continue to serve OUR community, and welcome a call/email to further help clarify any questions. Have a great day, and hope to help many of you in the future! Brent Seavey, XCare
Firstly, XCare is partnered with Endurance Dealer Services for administrative support, but we directly control approvals/denials of claims, and our process is purposefully separate from the other offerings. We have Tesla/EV trained people who answer our dedicated claims line, who "speak EV" and understand Tesla process. We are financially backstopped by AmTrust Financial, an AMBest "Excellent" rated insurance company that has been in business for over 20 years, and went through 2008 financial meltdown unscathed. Both AmTrust and Endurance are contractually obligated to service XCare regardless of what may happen to our company, but having 5X'd last year, and projected to 8-10X this year, we are growing and becoming ever more able to take care of our community and expand our services even beyond Tesla to all pure BEVs. As for the Tesla ESA, we never intended to compete with the ESA, but rather extend coverage ability to those outside of the "cookie cutter" 2 year/25k or 4 year/50k" box, and we are able to extend coverage out an additional 10 years or up to 180k miles. For people that are heavy users, commercial users (Uber/Lyft) or otherwise have long commutes, we can cover them. Our mission is to provide our community with the support they need to remain in their EVs without the financial burden of a huge bill, that often comes at an inopportune time financially for many. I consider it a personal extension of my time at Tesla to continue to serve OUR community, and welcome a call/email to further help clarify any questions. Have a great day, and hope to help many of you in the future! Brent Seavey, XCare
Love to connect and discuss your reservations, see my reply above and hope it's helpful! Brent @ XCare... or email me at [email protected]
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Incidentally, we are partnered with Tesla Owners Club New York State (TOCNYS, largest owners group in the Northeast) Tesla Owners Silicon Valley (TOSV, largest and most influential owners group in the U.S.) and have great relationships with countless other Owners Groups and Blogs/Podcasts. Oh, and didn't mention we also cover Model 3 and Model Y, something Tesla has never offered. To clear up one other issue raised, Tesla doesn't want to be in the warranty business because they are bound by law to not realize their warranty income until the end of the warranty term, yet they have to administer and back the warranty the entire time, making for a situation where literally millions are tied up while they incur daily costs. We are not constrained by this, and as such are able to be profitable while still providing world class coverage at an affordable (relatively) price. Thanks again for the opportunity to provide further insight into XCare!
We can start a new XCare any time before 125k miles for Model S/3/Y and before 100k miles for Model X, so if you get to the end of coverage we can totally start another one! It's usually better to buy longer coverage than you need and prorate a refund if you take a shorter walk with the car, and you can also transfer remaining coverage to a private buyer for $50 cancellation/transfer fee. Makes a great selling feature when its time to move on. Cheers! Brent
Stay tuned, we're finalizing with our partners at AmTrust to provide this coverage, should have solid info by Summer! At this time, we are only able to go back 5 model years (2017s and newer) and pricing isn't yet in stone. Big stuff coming for our members!
No worries, the battery and drive unit are engineered to last for 15years/500k miles, and the most common reason for failure (aside from abuse) is manufacturer defect, which tends to shake out during the 8 year warranty under normal use.
@OGKobraTribe said: [a bunch of drivel]
1: *you're.
2: If you care to read the thread I linked, the answer to your question on backing is in post #13.
As for your suggestion that my experience with them is somehow fake, I honestly can't bring myself to dignify it with a response other than to use the forum's 'ignore' button. Have a great day.
1: *you're.
2: If you care to read the thread I linked, the answer to your question on backing is in post #13.
As for your suggestion that my experience with them is somehow fake, I honestly can't bring myself to dignify it with a response other than to use the forum's 'ignore' button. Have a great day.
Does Tesla still sell extended warranties? I know they don’t offer them for the 3, which is why I went with Xcare, but we haven’t tried to add one for our S yet.
Edit: Tesla only offers the extended warranty for cars built thru 2020 per their website. So everyone in the future will be looking at the 3rd party options. Looks like they are getting out of the warranty business.
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Yes, Tesla is getting out of the warranty biz, but they have a very good financial reason to do so. They are only allowed to realize the income from the warranty sale after the end date of the warranty, but still must service and provide admin support for the entire term. Ends up being a net loser for them, and ties up the funds from their books for a long time. This is how XCare is able to provide better pricing, $100 deductible and be profitable, because we have no such constraints.
So glad to hear, and if you purchase your Long Term Coverage at new vehicle delivery, you save a lot over equivalent coverage purchased after the factory warranty expires. Depending on the term, on average our MY and M3 members save $800-1400 purchasing early. Hit me up when you get your new ride!
[email protected] www.xcelerateauto.com/warranties/#quote Cheers! Brent
$2700 is a no brainer. Glad more people are supporting this company. I had to deal with a claim with another company and it was terrible. Will be adding XC to our soon to be out of Tesla warranty 3LR.
Highly recommend the x-care warranty if anyone’s on the fence. I recommend giving Brent a ring if you have any questions. He will answer them all.
