Platinum's most recent scam is a letter they sent to all clients letting them know that they are "restructuring" and that they are devoted to paying all of their claims by the end of the year. The one claim they actually agreed to pay my service shop was for a grand total of under $90 and has yet to be paid after almost three months. That is quite a reorganization you got going there!!! I would assume that this message means that all of the money is gone and so is any chance of you recovering your claim.
Let me say first that the MN Attorney General's office and the MN Department of Commerce (our regulator of auto warranties) are fully aware of these folks.
My experience has been almost comical and I am grateful that I have a very reputable and patient service shop I send my car to for repairs. I own a 1998 Jeep Grand Cherokee and was having some problems that I assumed was in the drivetrain somewhere. The shop made a determination that the car needed a new transfer case and so, Platinum sent out an inspector who reported back to the company that indeed a new transfer case was needed. They denied the claim and then reconsidered but only if they could replace it with a used part and only pay the shop for a few hours work at below standard market rates. Replacing the case with a used part and the labor came to the grand total of under $90 I referred to earlier.
It gets better... The problem was not completely solved. The rear end continued to make noises and it was determined that it too needed a complete overhaul. OH, Oh! Now we are talking real money. When the claim was submitted, an inspector was sent and he reported back to Platinum with pictures and a report... There was indeed damage but the repair suggested was unnessasary. On top of that, both Jeff and Paul (Platinum employees referred to in your article I assume) said that it was imperative that I have my vehicle removed from the service shop immediately because they could no longer do business with them because they were either incompetant or attempting to commit fraud! Fire, fire! REMOVE YOUR VEHICLE IMMEDIATELY!
So what if I remove my vehicle and take it to another shop?"Well, there is no gaurentee we will fix it because the damage was probably caused by your mechanic"!!! What if a new inspection or diagnosis confirms the mechanics analysis?"Doesn't matter, we have no way of knowing that your previous mechanic did not cause the damage or that your service station is not trying to defraud us"!!!
Need I go on? My only hope is that will be out of business soon so that no one else gets financially injured.By the way, Platinum is the prefered provider of warranties to RoadLoans.com, a huge auto finance company.
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