Ford's answers to the NHTSA 6.7 Investigation
There was a request for a link to Ford's answer's to the NHTSA investigation posted on a previous thread, since closed. Here is the link: Ford's NHTSA Answers to the 6.7 investigation This PDF i...
Forum Discussion
Huntindog wrote:
From the way the agent was talking when I bought policy, MBI is a fairly new product for Gieco. I think that they are the only company offering it so far. There is a age restriction. The vehicle has to be pretty new 15-18 months ( I forget exactly) to qualify for enrollment.
That would likely leave out the 6.0-6.4s.
Coverage is for 7 years or 100,000 miles.
Need to see the policy.
Their bet:
Bumper-to-bumper is 36
Emissions to 60/100
What other things can break down after these two coverages are exhausted?
Not much.
Additional bet: monthly payment, and if you cancel, miss, they cancel you... they collect for years (given the age restriction) before they payout.
Say they collect premiums for age of vehicle (year 3, 4, 5) got 3 good years of premiums for doing nothing.
then a risk in year 6, terminates in year 7 for sure.
And people trade in cars, have accidents, etc. that shorten the vehicle life --- and if there is a change of ownership etc. the MBI is probably non transferable.
Front load premium, rear load liability.
Hmmmm
I think the financials look so good I'd underwrite it!
Somebody.. post the actual policy... let me get some actuarial goons onto it and see what the profit margins are on this product.
