An extended car warranty is a service plan that kicks into effect the moment the manufacturer’s warranty comes to an end. This service plan extension is exceptionally valuable for all vehicle owners and often provides more benefits than the original manufacturer’s warranty.
You can expect a more extensive range of registered garages, a lot more cover for part exchanges and vehicle repairs, and you’ll also often get a few value-added benefits like roadside assistance, fuel delivery, and even jump-start services, to mention only a few.
But even so, you’ll still need to practice caution when purchasing an extended warranty plan for your car because not all warranty companies offer the same level of cover.
So, we’ve rounded up a few expert tips to help you get the best value for money.
Compare Warranty Companies
Instead of opting for the cheapest warranty for your car, evaluating a list of the best warranty providers is worthwhile. You’ll find Carshield, Carchex, and Protect My Car are all solid options.
Comparing the best warranty providers will give you clear insight into what you can expect from each provider. You’ll find some warranty providers are top-rated for maintenance benefits while others are renowned for the best value or most suitable for used cars.
Compare Costs
While you’re evaluating the best providers, you’ll notice these service plans are available in a range of dramatically varying prices; some plans might only cost you about $100, while others can cost upwards of $300.
So, it’s wise to compare the costs of the best service providers to determine which offers a service plan that your budget can accommodate.
Consider Coverage
Next, determine what kind of cover you need once you have a realistic idea of how much these service plans cost.
If you’re after excellent value for money, you’ll find that Carshield costs are affordable. On the other hand, if you are searching for the best coverage, Endurance offers the best warranty plan for vehicle owners.
A cheaper policy will provide basic cover for wear and tear and mechanical breakdowns. At the same time, you can spend a bit more for bumper-to-bumper cover or opt for drivetrain/powertrain coverage, rust erosion protection, and more.
Request Quotes
Even though policy costs can be found online, these are general estimates. As a result, you’ll need to request quotes after determining the level of cover you need. The service plan costs will differ depending on your vehicle’s model, make, and condition.
Request Instructions For Filing A Claim
Once you’re settled on a service plan that’s best for you, requesting instructions for filing a claim is essential. Even if this is detailed in the policy, requesting instructions is wise.
Extended warranties are not the same as car insurance claims, so it’s crucial to know how you’ll need to go about making a claim.
Extended car warranties are effective in helping you avoid the costs of major repairs, and these service contracts can also help you boost resale value. So, if you’re thinking about later selling your vehicle, get an extended warranty. In addition to this, it’s also wise to get an appraisal and look at fixing any damages.
