Exotic Warranty Company out of business with $3200 of mine?

[02ViperTodd]

Anyone ever heard of this company?...

Dang, I'm bumed out. Last week my driver side window fell into the door. I called this warranty place (which I paid $3200 for a policy when I bought the car) and they said it was covered. I take the car to Dodge last week and they finally get to it today. They call the warranty company and who do you think would answer? The freakin Florida Revenue Department. They seized the company Friday for not having some kind of insurance. Now my car is fixed and I'm gonna be out $900 when I go to pick it up instead of the $100 deductable.

Anyone have any ideas of how I can get my $3200 back? This companies parent company is a freakin PO box in Alabama...damn I feel ripped the hell off. I hate stuff like this and wouldn't you know it Scott at Elite probably has something to do with it...

Done venting...at least it wasn't a blown motor..

Any advise would be appreciated.

Todd

 

[V10SpeedLuvr]

I'd call back and talk to the Dept. of Revenue guys who pick up the phone. They should be able to tell you what to do. I'm afraid its prob gonna be a long and annoying process to get your refund

 

[V10SpeedLuvr]

p.s.--how does Scott at Elite figure into this?

 

[Asp Man]

Good luck with this one. You're probably SOL. If they haven't been paying for whatever insurance themselves it's likely they haven't been paying for a lot of things, tax is obviously one of them.
You'll be in a long line of unsecured 'creditors' (you'll come behind the IRS, the banks, etc.)who unfortunately have a valid claim against the company, but not much hope of getting paid.
The upside is that if you act fast you might get in before a lot of other unfortunates.

(sorry, too many graemlins)

 

[V10SpeedLuvr]

What was the name of the company? May be some other guys here who need to get in line to file a claim against them

 

[02ViperTodd]

The name of the company is The Exotic Warranty Company...I bought the car and warranty from Excell Auto. I notified Scott last night and he's trying to track things down now.

I spoke to Scott this morning and he basically got the same story I did. Apparently there license expired and they didn't renew it. I've personally never heard of the State seizing a company because there license expired. I think there's more to the story than that. The revenue person told Scott claims processed before yesterday would be paid but all others would have to wait and let a judge decide...What a PITA!!!

I don't feel quite as bad as a guy who called Scott this morning to tell him the warranty problem...his repair was $5100...

 

[VPRTKMIKE]

i had dealings with them and i'm sorry for your misfortune but i'm glad they are not around any more.... they decided not to pay for the intake gaskets when head gaskets where leaking, not necessary to remove intake to replace head gaskets..... that's what they told me...

 

[DrDJ]

Definitely a nightmare story. Good luck on trying to get your repair paid for. However, I don't see getting a refund on your premium. It never happens in other insurance fields when the insurer goes bankrupt. There are too many other creditors ahead of the typical policy holder.

 

[knuk]

I don't feel quite as bad as a guy who called Scott this morning to tell him the warranty problem...his repair was $5100...

Was this on a Viper? What sort of repair for $5100? My warranty is about to run out (except I will still have 4 years on the powertrain) and I have decided not to buy extended as it is very expensive - $2600 (2 year) $3500 (4 year)plus 7% TAX - canadian $$. So I am curious to know what repair cost $5100 - it's not to late for me to change my mind and buy extended!

 

[02ViperTodd]

The $5100 repair was on an Aston Martin.

On another note, I called the company and they are back in business, I think. The lady that answered the phone acted like she didn't have a clue about the State coming in but then admitted they had. I faxed her my receipt and haven't heard back on anything..I think I'll give'm a call..

 

[DavidSB]

Years ago I was advised never to buy a 3rd party extended warranty just for this reason. I believe that factory extended warranties are available for late model used cars, but one of the dealers on this board may want to chime in.

 

[knuk]

The quotes I have are for a factory extended warranty.

 

[CitySnake]

Another reason to do business with Chuck Tator for extended warrantees.

Still sorry to hear your story!

 

[gthomas]

It wasn't a State siezure of the company. They have, however, lost the ability to write policies in Florida (for now).

 

[418viper]

worse case deduct it on your tax return

 

[Saint_Spinner]

I think there was a time when all aftermarket warranty companies were temporarily banned from providing new service to California. I remember looking for an extended warranty plan and all the sites had disclosures stating at this moment they can't cover Cali. cars....

 

[PatentLaw]

If the company is not bankrupt, but refuses to honor the contractual obligations, perhaps you should take them to small claims court and get a judgement. I would not "do nothing" in this instance. You paid, they accepted. Talk to a lawyer in your state first as well as read the policy. The policy will most likely tell you where disputes should be handled and what substantive law of what state controls the contract. Then you can act, knowing the full facts.

 

[02ViperTodd]

Thanks for the advise PatentLaw, but I guess there back in business. They just called and said they were mailing out a check today....reminder to me..get check, cash immediately!!!

 

[PatentLaw]

Cash immediately at the bank the check was drawn on if you can. Don't feel bad, even the best people have no idea if a company has the proper insurance or are compliant with all the rules of the state. Hey....they (the exotic warranty company) are the experts and THEY did not know! A happy ending for you.