Hey Mate
I am currently with Innovations from NEDBANK. I haven't had any issues with my claims at all. As long as your car is serviced by a BMW dealer or RMI approved workshop on due dates, then they are happy. They do offer different packages. My warranty is close to the end of its period, will have to renew it soon.
SA Warranties will be my next option as they do cover abit more than my current warranty, plus you can pay them monthly. Not too sure on the Innovations warranty, but will find out during the course of next week.
Motorite, defenitley a NO GO zone, had them before and they are useless.
Hope this helps abit.
Cheers