Have you read this doc? it is easy to just see BMW branding and trust these things. What are the material differences between this and the one WBC has in terms of cover? It seems to be the same cover probably underwritten by the same people with BMW being the intermediary on one side and WBC on the other
Play spot the difference...
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There is a 30 day cooling off period. In this clause they even state that you CAN get a benefit paid out in this period and if so then you can no longer cancel it. I don't think WBC's issue is that the cover only kicks in after 30 days. Their issue is that you can cancel your cover. They likely want that 30-day period to be waived or reduced to the 'standard' 5 days. I can't see WBCs actual contract terms around this to compare.
Their 30 day waiting period that I see skimming this, applies to fair wear and tear and a discretionary payout (basically if they feel sorry for you they may cover 50% if something hasn't outright broken yet after 30 days have lapsed). You would never have been covered for that stuff anyway (not officially) by the sounds of it.
You might find that the cover WBC offers has only a 5 day cooling off period or a minimum penalty associated with cancellation in the first month. They can and will use the warranty to manage their own risk around CPA issues that might arise. That said, I am sure your finance house would have also had an issue with this (or will require you to provide regular proof of cover if it was a term of being financed).
In terms of the actual cover,
There is some fairly serious stuff maintenance wise that is specifically called out around injectors, timing belt/chain, tensioners etc... That is (surprise surprise) for your account and a claim on a failure won't be entertained if you have not kept up with this maintenance (eg: if you don't attend to a noisy chain, tensioner fails and then you claim for an engine). In this (unlikely for a B48) scenario you would be on the hook because you didn't maintain the timing system of the car... and you can't do the work yourself.
As for this portion: you know you're buying a BMW right?
7.6.3 In the Event of 2(Two) or more failures occurring simultaneously, only 1 (One) covered part failure will be entertained with the Limit of Indemnity being that applicable to the larger of the failures or the actual cost of the Repairs, whichever is the lesser. Repairs to the remaining failed part or parts will be for the Insured’s own account;
I know everyone loves the false sense of security with these warranties which is fine, but at the end of the day it is NOT a motorplan (and this is NOT a manufacturer's warranty despite being sold by BMW). BMW themselves are telling you who is actually insuring you and on what terms. The 'I never had a problem' crew will not be there to help in future - you will be bound to what is in the contract so make sure you read it and are comfortable with it, whichever option you go with.
