Florida Hyundai Platinum 10yr/100,000 mile Extended Warranty rates

[Alwaysforward]

Stopped into my local dealer (Wallace Hyundai) here on the Treasure Coast of Florida and got the following quotes for the Hyundai Platinum 10yr/100,000 mile Extended Warranty.

Zero deductible - $2,069.00
$100 deductible - $1,884.00

The $100 deductible is the highest deductible available on the paperwork I have. They stated that this is not negotiable do to Florida laws.

Hope this helps answer some questions for those here in Florida.

 

[PMCErnie]

What does FL law say?

 

[Mark_888]

What does FL law say?

FL treats extended warranties as insurance, and rates are regulated by law. Insurance companies must comply with certain capital requirements for keep funds available in safe investments for payout of future claims. Probably, due to the large number of elderly people in FL, there are many scam artists who have in the past sold warranties and not had enough funds to pay off claims (and some have embezzled the funds from the warranty companies).

 

[PMCErnie]

Where does it say that all FL dealers will charge the same rates?

 

[Mark_888]

Where does it say that all FL dealers will charge the same rates?

I am not sure, but that is what someone claimed. It is not unusual for insurance rates to be regulated in some states.

 

[Motegi]

I am not sure, but that is what someone claimed. It is not unusual for insurance rates to be regulated in some states.

I was told the same thing by two different dealerships when purchasing our Genesis and Audi a few weeks ago.