Banker's Warranty Group (BWG) Contracts

[Cap'n Preshoot]

A Google search on Banker's Warranty Group will reveal that this company has been aquiring several of the competing warranty companies to form a one-stop-shop for all of your warranty needs, from automobiles to televisions.

Priced lower than most, a BWG extended warranty provides all the usual protections for HDTVs and home electronics, including in-home service, repair or replace, lightning & surge protection, a no-lemon clause, no deductible and a 1-time replacement of the lamp in DLP sets.

BWG is the warranty now being offered by my dealer, Home Theater Store, div of Videoland and is priced at $349.99 for a $3600 (retail) HDTV.

[lcaillo]

Which companies have they aquired?

[Cap'n Preshoot]

Interesting. That's what I get for going on the word of another.
The only web info I can find is an aquisition of VAC, which I think is Canadian.
Also interesting, if not a bit disconcerting, is there's no company web site nor even a mention of them anywhere else on the web. I'll stop by HTS next week and pick up a copy of their contract. BWG is headquartered in St. Peterburg, FL

[Cap'n Preshoot]

Try as I have, I've had no success in obtaining an advance copy of the BWG warranty contract. Why don't they want me to see it before buying it?

[lcaillo]

It is likely that they get few requests. Also possible that things are not as they would like them to appear. Your diligence is wonderful and a great example of how consumers should proceed in making purchasing decisions. Thanks for posting the details of your process.

[Cap'n Preshoot]

Some update here on the BWG warranty.

This is the extended warranty currently being offered by "The Home Theater Store" in Texas and likely in their other market areas.

Home Theater offers the BWG plan only to their customers who have purchased sets from them. They will not sell the warranty separately.

[Sonnie]

We are investigating this company now for the possibilities of offering their warranty to Shack members as a discounted price. Sales would be handled electronically.

Here is a link to their website:

http://www.bankerswarrantygroup.com/

As you can see, they have been in business for 25 years. I have spoken with their customer service and claims department just to get a feel for how they handle customers. Thus far I am impressed. Customer service was prompt and I only held about a minute for claims. The claim lady I spoke with was very polite and she did not know I was interested in selling their product until the end of our conversation. I was basically picking her for info initially.

One thing I like about this warranty is it can be purchased up to 60 days prior to your original manufacturers warranty expiration date, although it is inclusive of the manufacturers warranty.

Plasma, LCD, Projection and RPTV products are covered the same as the manufacturers warranty. If it's onsite, then the BWG warranty is onsite. If not, the customer can upgrade to an onsite warranty. All of their plans except the smallest will mirror the manufacturers warranty.

They offer the following plans:

• "Gold" Extended Warranty (For Plasma, LCD, Projection and RPTV products from $0 - $29,999.00) 2, 3, 4 or 5 years.
  
• "Platinum" Onsite Upgrade Warranty (For Plasma, LCD, Projection and RPTV products from $0 - $29,999.00) 2, 3, 4 or 5 years.
  
• Home Theater Extended Warranty Program (1 television, audio, speakers, and satellite limited to 1 room from $0 - $99,999.99) 3 or 5 year.
  
• Consumer Electronics Extended Warranty Program (Video, Audio, Misc Electronics from $400 - $4999.99) 3 or 5 year.
  
• Small Electronics Replacement Plan ($0 - $399.99) 1 or 2 year. *Mail in only!

The really nice thing about this warranty is we can sell it regardless if the member purchased the product from us or not. A member can buy the product from anywhere they wish and then buy the warranty from us.


I will have a copy of the warranty contract and a list of service centers as well as a FAQ that I will provide soon.


This looks promising!

[lcaillo]

I am not familiar with them but will check them out with my service contacts. Here is a link that has some info about the President of the company. He comes from GE and Warrantech, a pretty good pedigree for this industry.

http://www.vacservice.com/VAC_Canada...us/Bankers.htm

[Sonnie]

This company handles the warranties for companies such as Sears, JC Penny's, and they also handle the American Express double warranty program.

The more I investigate, the more impressed I'm becoming. Of course getting setup with them is no simple task... they are very particular about who they allow to sell their warranty. I think we will be okay though.

[lcaillo]

I posted a request for feedback on this company on one of the servicer listserves and got two responses from guys who have done work for them. Both were positive.