Mercury Platinum Protection Plan

Michael T

Opinions appreciated:

In a few months I will have to make a decision regarding the purchase of a warranty for my Mercury equipment.

I have been told that the Mercury Platinum Protection Plan Warranty for Mercury Engines, Drives, Axius Joystick System and the DTS Throttle System is very comprehensive and Mercury is very good at honoring claims.

My Mercury equipment is: Two 2014 8.2 Magnums with B lll X drives, DTS Throttles and Axius Joystick System. Obviously there is a lot of money in that equipment.

There is also a lot of money involved in purchasing the protection plan - about 15K for six years of coverage.

I have had a lot of advice that it's a good idea given the amount of "new technology" Mercury equipment I have and for re-sale purposes.

I only know one person who purchased and used a Mercury Protection Plan. He had to have significant work done on both drives and feels he came out ahead - but that was a while ago and he only paid 5K.

The Mercury Platinum Protection Plan is a direct Mercury factory warranty plan with no third party involvement.

I am not normally a "warranty guy" - but have heard the Mercury Protection Plan is "one of the good ones".

Any thoughts, know anyone who has purchased and used a Mercury Protection Plan?

Thanks, MT

frenchship

MT,
Extended warranty of all kinds are sometimes full of exemptions and conditions that are written in small prints like the one sold by the car business.

Maybe if you could ask  Mercruiser to see the actual warranty contract in writing before you buy ,and take a real good look at it and read all the small prints 
You could then make a wise 15,000$ decision. That will protect your Canadian right  as a consumer. 

Michael T

@frenchship, thanks. I have already asked some specific questions about coverage of items but I do have more to ask. The coverage plan is a lot of money for sure but you can sure burn through a pile of cash if you have an Axius fail or those X drives need repair! 

Handymans342

How much is it MT? I would get it seeing how unreliable boats are. 

Michael T

Steve, that's my thought. It's 15K for six years - covers all Mercury parts (except consumables such as impellers) - DTS throttles, twin 8.2 mags, twin B lll "X" drives, Axius joystick system. However, as Frenchship pointed-out I will have to read the fine print!

Handymans342

Well with your social economic status, I would set aside 15k in an account. 

Michael T

Steve, the thought crossed my mind question id over 6 years would 15K cover repairs if "things went wrong" and if I sell in a couple of years will having a good chunk of warranty be worth the price?

Handymans342

Put money in bank, keep doing awesome maintenance = you will be fine. I have never bought an extended warranty but I have always owned Toyota's and Hondas

MarkB

I bought the extended warranty. Next season I needed my drive seal replaced and it was covered under warranty.

I extended for 3 years and I am kicking myself for not extending the full 5 years. With what I've seen in terms of (un)reliability it's a definite yes for me.

And yespecially Mercruiser stands behind their products.

Dream_Inn

I'd have a hard time paying that much for the warranty.  You also gotta know if you plan on keeping the boat longer (your past sure shows you haven't).  I wouldn't spend extra on a used boat because it had a warranty.  Just my .02 cents.

Michael T

Gentlemen, thank you for your advice, as always, greatly appreciated! :-)

Lifes Good

Hummm,  keep the cash if that's what it is.  15k over 6 years at 5% is 20k in the bank!  15k rolled into a 15 year loan at 5% is really 21k out of pocket.  Thats a 40k swing!

8.2s are solid and yes the equipment is expensive, but if something goes wrong due to manufacturer defects,  it will happen in the first 100 hours/ 1 year.  Normal warranty should be three years so you'll be good with that.  Plus,  at the 6 year mark, that's when normal ware really kicks in, like risers manifolds, water pumps, plugs, wires, belts and a few other things.  Non warranty stuff with a min cost of 6k to 8k normal boat bucks.  So save your 15 for normal stuff!  Just saying.

LG

Michael T

LG thank you for the advice. I do have some calculating to do and questions to ask. My 2014 Mercruiser 8.2 Mags/B lll Dives/Axius Joystick came with a 2 year warranty that runs out this may. So decision time is coming.

Lifes Good

Yeah that's a tough one... good luck!

Michael T

I heard back from Mercury about coverages and limits - Mercury's Platinum Protection Plan covers everything their factory warranty does, with one minor exception that I will talk about later.

The way it was described to me was that the coverage is tied to the MRSP value of your engine package. In my case that is 25K per engine. So, if I took the plan I would have 50K TOTAL of coverage for my engines, drives, DTS throttles and Axius. If (hopefully not) a client reached 50K of warranty that would be the end of payments.

The exclusion I mentioned earlier is corrosion. Corrosion damage is not included. That's why I am so OCD about touching-up my drives at the first sign of chips, scratches or corrosion. It can quickly become such a huge problem that even Mercury will not warranty it.

Of course, consumables such as impellers, filters, plugs etc. art not covered.

No question 15K is a lot of money.

Mercury does have a reputation for honoring their warranties without undue hassles.

Thank you very much to all of you who responded to my questions - your thoughts were VERY helpful!

Handymans342

So what are you going to do MT?

F1100

They would not offer the warrenty if they did not make money on it

Michael T

Steve, I don't know. I have until May to decide.