Bankers Warranty Group review: They basically cover nothing 31

This is a response from Bankers Warranty Group.

Your Terms & Conditions cover any damage or failure of your product as a result of a Mechanical or Electrical failure. The costs to cover malfunctions outside the scope of coverage are borne by the customer.

Regarding your wood floors. It is customary for a service center to request the owner to pay for the removal of a warranty product if they believe there is a risk of damage to other personal property that is not covered under the warranty.

Regarding self repair. Your warranty would be voided only if your product is damaged as a result of unauthorized repair. It is our common practice to refer you to a service center we are already familiar with to do repairs on products that are NOT covered by warranty. For example, your Tray Replacement. This way, we are confident that the service being performed is conducted by a trained technician.

Most of the warranty disputes typically arise when a consumer isn't completely familiar with, or versed with the terms & conditions of their warranty. In most cases, a consumer believes the word Warranty is a blanket statement that covers the four corners of the product, irrespective of the damage or failure.

For example. If a tree falls on your car, and you have a 10 year 100, 000 mile warranty, you can't take the car back to the dealer for warranty service. It's not covered. The same principle applies to consumer electronics and appliances.

We hope this clarifies your warranty experience and invite you to contact our Customer Service Department at the number listed on your warranty if you have further questions.

Best Regards,

Bankers Warranty Group

WARNING - do not purchase service agreements from Bankers Warranty. I purchased a GPS from CompUSA and a 2 year warranty from Bankers Warranty. We used it twice - in fact it still has the plastic cover over the front diplay. The device failed and Bankers Warranty said it was caused by my abuse - sight unseen. Talked to two customer service agents and a supervisor, all used every word except the contract to explain why they would not authorize the return. WARNING - do not buy service contract from CompUSA. Check other online stories about TigerDirect and CompUSA and the poor service you get from Bankers Warranty. I will close by saying I was shocked after a trip to CompUSA, a phone call to customer service, and an email, I was told I should talk to higher level people at Bankers Warranty, but not once was I offered any compensation - not even the option to get a discount on a new GPS. That was after telling all of them I would take my business to Best Buy. Amazing customer service.

Exact same thing just happened to me with my 17 month old Whirlpool fridge. They claim that a craked pan that results in water dripping on the floor is cosmetic and not covered by my 5 year warranty. Let alone the consequential damage to the kitchen cabinet. The cost is $192.93 and the claim is denied. Totally irresponsible.

I use to work at Bankers Warranty in the Claims dept. Bankers does not hire enough people to run there phone lines. They expect a handfull of people to answer all the calls, and run the claims department. The supervisors will in fact try and find anything on the contract to denie a persons claim. Bankers treats their out side service people just as bad as they do the customers. They do'nt pay them on time, they will even denie the service techs pay if they did something incorrect. Bankers Warranty is a joke to work for I am glade I left. The supervisors are bad no help and when you do ask for help you get written up for not doing your job.

I am a service administrator that is dealing with this company also. They refuse to do anything about your problems. No one will call you back, and when someone does, they are not authorized to get anything done except to give you excuses on what they can and cannot cover under these warranties. We was lied to from the get go, with no clear explanation of the terms and conditions. The T & C is differant now than what it was when we was getting set up to sell this companies contracts. The person that sold them to us, did not go over any of the depreciation concept that is in the contracts, and they contradict themselves saying that they'll cover up to the purchase price of the product. LIARS and SCAMMERS, this company is out to take your money and give you no service at all. So far out of 12 claims with this company they have not repaired a single one. They bought the contract out with a depreciation giveing the customer about a 10% value of the actual product that they paid for. Our company has been in business for over 50 years and we have dealt with many extended warranty companies and had no real problem getting products repaired, or giving the customer a reasonable settlement. This company needs to have charges brought against the executives and accountability for being so vague untill after there is a real problem to tell us that they are only giving back basically what you paid for the warranty in the first place. I would think this would be false advertising or something like that. I'm watching this company closesly and no longer sell there contracts.

that was an "agree"...not sure why it showed up that way.

I am a service center that does service for Bankers Warranty Group . I do not want to be associated with them but the company that sells their contracts, I have serviced the retail store that sells electronics for years. Long before BWG came in to the picture. BWG is a joke of a company.They treat the service centers as bad as the customers. They look for any reason not to pay us for service rendered.Even after the product is repaired and sent back to the customer.They refuse to pay their sales tax and shipping charges on parts ordered.The labor rates they pay my service center is lower than I was getting in the 80s. In most cases I lose money on doing their repairs.They agreed to pay me a flat labor rate on all repairs. Now after I have serviced them for a year or so they say that they did not say that and haved lowered some of their rates.What a low class company! Its not only the consumer that this company abuses.

Imagine what an extended warranty would cost if there were no safe guards in place to insure that the claim falls within the scope of the contract. The service companies that have voiced complaints would soon be out of business if they didn't protect their bottom line, that being said,
I work for BWG and I can say without reservation that we do EVERYTHING we can to help customers within the boundaries of the terms and conditions of the warranty contract. The problem with 90% of the people I talk to is they have not read the T&C's..didn't get a copy? Why not?Do you often buy things and not get it? Ask for it, call us..we WILL get you a copy..and then READ IT!

They dont give you the T & C till after you pay the money.

as BWG Support says, Read your contract, To sell you the contract they will tell you that it is a 5 year warranty but as they depreciate your purchase to the point that the contract is worthless near the end of the warranty. During the sale why don't they tell you that?

Why then at the time of sale can't these "Limitations" be pointed out in bold text before the sale? Instead of needing to be studied later on. Or maybe even have a general statement that says that this is a limited warranty and may not cover all defects.

Not spelling these things out at the time of sale, then hiding behind a contract when your customers are angry only will cause you to go out of business. I have dealt with other warranty companies and i can say that bwg has been the worst

Spoken like a lawyer. When you buy your next tv make sure to bring along your lawyer to interrupt the contract for you.
My problem is that there is so much deceit by omission in advertising. Not that this is a new idea but it prays on the uneducated and that little old lady that just wants her tv protected and remembers what the word warranty used to mean. She did not get the new dictionary.

Yep...great at following their contract. My claim was first submitted in JUNE!

Here's the most recent correspondence...from over 2 weeks ago.

I havent heard anything since...no emails and no return phone calls for the multiple messages left. My system still isn't working.

From: Myers, Bryan
Sent: Sunday, August 15, 2010 1:39 PM
To: XXXX
Subject: Re: Warranty

The info should have been emailed to you last week. I will make sure it was and have it resent if needed.

Bryan Myers
Manager, Operations
Bankers Warranty Group
727.579.6215 Ofc/817.825.7106 Mbl

Sent from my iPhone

On Aug 15, 2010, at 12:58 PM, "XXXX" wrote:

HI Bryan,
I haven't heard from anyone. Have you been able to find a facility in my area?
Thanks,
XXXX

From: Myers, Bryan
Sent: Wednesday, August 04, 2010 9:51 AM
To: XXXXX
Subject: RE: Warranty

I think we need to have someone evaluate the system, especially now that I know you have several components that are covered under warranty plans. I will have someone work out some arrangements with a facility in your area and contact you with the details.

You and I will stay in touch until we have this resolved.

The bottom line is they treat there custmers like crap, if you are not Famous Tate, or another big retail store they will dump all over you. I worked there and they pay a service company lets see $125/ flat rate for a LCD/Plasma and $150.00 for projection. What a joke that would be a good pay maybe 10 years ago. The supervisor of the claims department is a joke too. All she does is a buntch of Nothing along with B-Myers he is a joke too. Look at the other complaints about BWG and you will find out they treat people bad. Oh and did you see the scam they are trying to sell carbon credits. What did Al-Gore get to them. Don't they know that buying carbon credits is a SCAM.

Do not ever do any business with this crooked piece of trash company. I have personal experience with them (an employee) and I know that their garbage of a warranty is a terrible scam. They're selling extended warranties that you can never use because it is supposed to start after the manufacturer's warranty ends although the coverage itself starts the date of purchase. Since these manufacturer warranties go past the extended warranty expiration date, you basically paid money to never ever get covered. More than half of what they sell you will never be able to use. They treat their employees, their staff, their service centers, everyone like crap. STAY AWAY, STAY AWAY, THESE PEOPLE ARE DEMONS!

Hey, [censor], half these people are lied to by the sales people and are not given the options of reading the terms of conditions and you know that. They are told by all the sales people it covers everything and you can't tell me this hellish nightmare piece of trash of a company has no control over that. BWG makes me glad that there is a hell. Justice will come.

Listen, I'll try to make this simple on you, ok? The word of the salesman IS to the buyer the terms and conditions. More than half the customers don't even know to ask because they're already told up front a lie. I agree, everyone should research and study up prior to buying, they SHOULD ask about the terms and conditions because I guarantee this trash heap called a company would be out of business. How do you account for mfg warranties that extend past the extended warranty nullifying any chance for them to ever use what they purchased? How do you account for those who have to wait 2 to 6 months before getting any service when promised 2 weeks tops. Or those many many folk who never get called back even though its promised them? Quit defending them. The world is full of scam artists who prey on the simple citizens of America during this recession. It's too bad Americans just aren't smart enough to fight back.

Just an update...Brian was not in touch after that last promise to stay so...Never heard another word. My system was never looked at. The company is dishonest...and yes, I read the terms. I sent copies of their own contract to them and they admitted a diagnostic was in order. Lesson learned...don't do business with this company because their written word is as useless as their verbal promises.

Go ahead all you holier than thou's out there and call me a [censor] and someone that can't read...whatever. Buyers beware is all I have to say. Hopefully I'll save someone from a similar experience.

OK, so, looking at your personal copy of my warranty document that you so confidently believe I am misinterpreting... can you please explain to all of us exactly where it states they retain the right to refuse to follow their own warranty terms after they've agreed to a repair authorization? Or perhaps the section that says they can and will tell you they will be contacting you to set up a diagnostic appointment but then never call or email back to do so? Or maybe where many of their advertised "nation wide" contracted repair shops have dropped them from their businesses because they failed to pay for services rendered as per their authorized warranty repair orders. I’d love to see the section that explains exactly when I will be expected to drive 1400 miles to find the nearest place that will do business with them.
Not everyone on here is unable to read or is so bored that they waste their time concocting frivolous stories of blame. Some of us are actually trying to warn others to be leary of crooked businesses, especially those complaints that appear countless times by several different people against the same company. Unless you've had personal dealings with this specific business your assumptions and "simple" advice are nothing but OPINIONS on a topic you have no direct experience with. You are welcome to your opinion, but understand your opinion is no more valid than the OPINION of those who believe they have been swindled.

I'm not going to repeat the entire post for you...BWG has logged many, many complaints, including one of my own, to keep you busy. Feel free to peruse at your leisure.

While doing so, may I recommend the following simple two-step process:

1. Read, and importantly understand.
2. If you do not like a certain post but you find you have nothing but opinion to add...move on.

It really seems you're just here to pass judgment on others rather than contribute your own experiences with a particular company (be they good or bad). How did you end up on this page, anyway? Just looking for someone to pick on to make yourself feel superior? Perhaps if you had your own consumer experiences to talk about rather than hitching a voyeuristic ride on ours we'd be more receptive to your criticisms. Meanwhile...there are plenty of social networking sites out there to welcome you and your baseless opinions.

" they SHOULD ask about the terms and conditions because I guarantee this trash heap called a company would be out of business. "
When they sign that they agree to the terms and conditions the onus is on them to have read them.
-Scam artists bank on the fact that customers do not research what their buying before purchasing. Whether or not it is on them doesn't make the seller right.
"How do you account for mfg warranties that extend past the extended warranty nullifying any chance for them to ever use what they purchased? "
This is just an example of a term and/or condition. See above point.
-You shouldn't be selling warrantys like that period. End of story. If you know you're scamming someone, to hell with the terms and conditions, you shouldn't be doing it.

You are basically going to keep coming back with robotic statements for your company which just tells me you have no life of your own. This company will go down, I promise you.

Hey, [censor], we're not talking about legality. We all know that laws in America provide many loopholes for thieves to live off the innocent, that's not what this thread is about. The originator of this thread was not about what is legal and what is not. It is about warning people to stay away from this company. You should be happy, you're the one who keeps saying to read the terms and conditions. You say that if they read their t's and c's, they'd know not to buy the warranty. We'll they're going to get the same thing here. Everyone else on this forum are saying they have read those t's and c's and that the company is crap. But here you are spitting away about legal terms which has nothing to do with what everyone here is talking about. So, be a good puppy and go back to licking the heels of your CEO and let everyone else here get their say. And to everyone else. Warn as many as you can to stay away from this company.

LovefistII is just here to make fun of people, not to resolve or report anything of consequence. Check out his, her...its... profile and 6 "complaints". They're all juvenile, as are most of the respondents to its posts.

The people that visit this site for legitimate reasons will see through the games and will take away the intended message we are all sending. Don't waste any more of your time on arguing..it will eventually go away when it gets bored and finds another thread to pick fights on.

Here's a quick example...

Posted: 2010-10-06 by TheLoveFist II
TIME
I am tired of time's forward motion it is a complete rip-off and scam. Please advise of a way to alter the fabric of the space-time continuum.

Posted: 2010-09-22 by TheLoveFist II
Creating stupid people

I am upset that God created stupid people. Can't something be done about this? Does anyone know God's contact information so that I can escalate this?

Toronto Maple Leafs
Posted: 2010-08-31 by TheLoveFist II
Crappy team

I am tired of this team not making the playoffs. They had better make them this year or I will stop to support them.

Hopefully he'll be suspended soon (like he was from gamefaq's)

You are right --.-- I have heard somewhere, "answer not a fool according to his folly, lest you be like him. Good judgement, thanks.

I have worked for Bankers before and admit that there is a lot of times when the claims are not processed on a timely manner. But while at Bankers, I was never told or trained to find ways to decline a claim...I was simply trained to follow the terms and conditions...A lot of people out there are buying refurbished items that they save a little money on and do you know why you save a little money..Because a refurbished product was an item the manufactor decided was no long worth the hassle to fix...It is purchased by a remanufactoring company and repaired and sold to you...The reason you got it cheaper is it is junk in the first place...90% of the claims that I received where on refurbished product..Bankers do not sell the warranties that you purchase, they are the executors of the warranty service..If you are lied to by a sales person on a warranty call the company that sold it to you and complain to them...they sold it to you not Bankers...

we used to sell this bankers warrenty but we never had a happy customer with there warrenty they denied every claim or left the customer on hold untill they hang up the phone in discust. Do not buy this fake program!

"If you have to read th terms and conditions or fine print or as Consumer World calls it "mouse print, " to figure out what you are getting, it ain't worth the paper it's written on.
@avoicefor the people - right on! Does any retailer, less the cashier expect you to read the booklet when you are check-out? Are you kidding! Even you you "ask" a "salesperson, " they have no clue about the stipulations in the terms and conditions - these are crafted by lawyers! With the proliferation of online complaints boards and blogs, why would any sane, rational human buy any retail service contract? You are inviting trouble.

I have written a letter to all 50 States Insurance Commissioners with my complaint against Bankers Warranty Group. Long story short, BWG is denying my claim on my cell phone because it was in transit (hmmm... cell phone in transit?) Not only that but reading the other reasons they will not cover your phone reveals they deny coverage if it is being used commercially (do you use your phone for work?). You can get the names and addresses of all of the Insurance Commissioners by going to www.naic.org/states. Maybe if enough people file a complaint with all of them they will shut them down.

I have never, in all my years of computing and owning PCs/laptops, had so much trouble with one company as Bankers Warranty Group. When I purchased a Gateway laptop (P-173XL FX) for $2, 000 I also asked for an extended warranty which I ASSUMED would be from Gateway. WRONG! I have spent the last 2 years fighting with BWG, the laptop has gone out no less than 8 times over the last 18 months with times in transit, waiting for labels/empty boxes, waiting for repair and then finally receiving the laptop back - USUALLY WITH NOTHING NEW DONE TO IT. The laptop has more "frequent flyer miles" on it than I could ever have and repeat "tech support repairs" - and I use that term EXTREMELY LOOSE - has been a totally NIGHTMARE. Had I known that Gateway wasn't going to service the system beyond their 1-year contract I would have never bought the extended warranty. I have been WITHOUT this system more than I've been WITH IT and the warranty runs out in a very SHORT time. I am THRILLED it is running out! Why would somebody be so happy a warranty is about to expire if the service and caliber of people working there was good? I have never screamed so much - emailed so much - WAITED so much - and been soooooooooooooooo STRESSED OUT so much as I have with my contact with Bankers Warranty Group. How this company has been allowed to even exist is beyond my thought processes and the best thing for them - outside of everyone getting together for a MASSIVE Class Action Lawsuit - would be for them to simply VANISH.
DO NOT - AND I REPEAT - DO NOT PURCHASE A WARRANTY FROM BANKERS WARRANTY GROUP UNDER ****ANY*** CIRCUMSTANCES unless you have maschochistic tendencies (which I do not). If you want a massive runaround, lack of knowledge, total stupidity for techs, and TONS of paperwork - not to mention NOT having your computer (or any other unit) UNAVAILABLE for WEEKS ON END then by all means burn your money and give it to Bankers Warranty Group.

I threatened legal action more times than I care to mention. You know what stopped me? Putting the FOUR INCH FOLDER of paperwork involved with BWG in some semblence of order to present to a judge. I can't tell you the phonecalls I've made - the letters and emails I've written - and the waiting...did I tell you about the WAITING for my laptop to be returned STILL NOT WORKING PROPERLY? They lost an AC cord on me; last time it went it for a replacement screen THEY BROKE and when it was "repaired" they put the WRONG SCREEN ON IT! Back and forth from Rhode Island to Florida - up and down the east coast went my $2000 laptop! I've got a cellar FULL OF EMPTY LAPTOP SHIPPING BOXES from this company's inability to GET IT RIGHT! I can't WAIT for the warranty to be OVER so I can enjoy the laptop and should anything go wrong on a system that they say had nothing wrong with (the burner was replaced FOUR TIMES and still doesn't work right but I REFUSE TO CALL THEM AGAIN) I will have it fixed WHERE I WANT with CAPABILE PEOPLE!

THIS COMPANY IS A RIP-OFF - A DISGRACE - CREATED MASSIVE MIGRAINE HEADACHES FOR ME (I spent days in bed due to the stress of this company) - and DAMAGE to a $2000 laptop that simply ORIGINALLY had a bad burner (that STILL is not working right!). The damaged screen was the payoff and then the WRONG replacement sent it back for yet a 3rd time in 4 weeks.

Do you have any idea how many times I've formatted and reinstalled all my applications and data because I don't send it out with personal information on it? I never put the discs away!

DO NOT PURCHASE A WARRANTY FROM THESE PEOPLE OR EVEN ATTEMPT TO DO BUSINESS WITH THEM. If in doubt call the RI AG's office - I even called THEM for help!

You know the funny thing is about this all is when people say they are going to sue they never get far because the company opperates within the "TERMS and CONDITIONS" of the agreeement. It would serve you well to read the terms and conditions before you blast a company for wrong doing. Second point is most products warrantied under BWG are products that people feel they have got a great deal but the thing is you get waht you pay for. If you buy cheap products then what is your expectation of the quality of the purchased product. Third point is you made a choice to purchase a product, the warranty company did not make the product so it is funny to see how easily people want to hold the warrant company at fault and shut them down, file class action suits against them. Why is your issue not with who manufactured the product? The warranty company did not make the product and what most of you fail to understand is the terms& conditions are based soley upon what level of service contract the dealer pays for, again as I stated before you get what you pay for.

We purchased a 5 yr warranty for our washer at Famous Tate and Bankers Trust Warranty is the administrator! After 3 years the washer stopped working and gave us an error code. Called and was set up with A and E Factory Service to come out - they never showed and 2 more appointments were made - again, they did not show. The error code indicated clearly what was wrong with the washer but Bankers Trust insisted on a technician to come out and determine what was wrong. We were told once Banks Warranty receives the technician"s report and an estimate of the repair costs they would determine if they paid or not. This entire process could take up to 4 weeks! Bankers Trust claims to only work with A and E Factory Service!
We filed a complaint with the Attorney General's Office and the Better Business Bureau.
Bankers trust clearly commits fraud so avoid them by all means!