Five Important Things to Look for in an Extended Car Warranty
When you buy a car, you should also buy an extended vehicle warranty insurance that can give you protection once your manufacturer’s warranty expires. Having an extended car warranty will save you money as you will be protected against costly repairs, and more importantly keep your vehicle in good running condition.
In buying an extended vehicle warranty, there are five things you should look for:
No Small Claim Limits
The extended vehicle warranty insurance that you should get must have no small clam limits. Whether it’s a mechanical trouble that doesn’t cost a lot of money like a faulty spark plug or a leaky radiator, you should be able to make a claim and the warranty firm must cover the expenses.
After all, you are to pay the warranty insurance for a reason and the warranty firm must make good on its promise.
Before you buy an extended car warranty, make sure you understand what is covered and what is not covered in the policy.
You can also customize the coverage. You could opt to have the powertrain consisting of the engine, transmission, suspension, and wheels to be covered. Or you might want additional coverage for the electrical systems.
Be warned, however, that only a few polices cover everything. Expect items like exhaust system and driver wear and tear issues to be not covered by a typical extended car warranty.
Whatever you are looking for, know what your policy will and won’t cover. You should also know if the policy has mileage limitations, or if it will cover a towing service just in case you need one after being stranded somewhere.
Car Warranty Firm’s Reputation
You must also consider the reputation of the insurance provider. Ask around. Your colleagues or friends may have an experience dealing with the firm. If you’ve never heard of the company, do some research online and check what other people have to say about them. Other things you should be researching about the warranty firm are—if it is regulated by the industry, or if it has a parent company that you may have actually heard of.
Warranty Firm’s Payout of Claims
Before you buy an extended car warranty, ask the insurance provider the payout percentage of their claims. You can ask the firm’s sales agent or even look it up online. A high percentage can give you the assurance that the firm will pay on a claim that you may make at some point.
Car problems can happen anytime. Thus you should get a car warranty from a reputable firm that can provide topnotch customer support 24 hours a day, and 365 days a year.
Moreover, the firm should give you a lot of options in communicating with them such as email, live online chat, and telephone. You’d also like to have roadside assistance included in the car extended warranty that you are to purchase.