Buying an Extended Auto Warranty: What You Should Know.
Just because a
company claims to offer extended auto warranty coverage
doesn't mean that you can expect
complete bumper-to-bumper coverage.
Some plans available in the market cover only catastrophic
or only certain systems.
that sell and administer their own plans are better equipped
to provide reliable service
Manufacturer warranties are called
exclusionary plans because it takes less time to mention
covered than it does to go through all the thousands of
things that are. This is a sign that you're receiving
the maximum amount
of coverage available. Plans that list only those items
which are covered may not be full
they may be partial plans only. Also make sure car rentals
are covered while auto repairs
are being made.
Never assume that an extended auto
warranty plan includes parts and labor costs. You could end
up paying for
the time the mechanics spent repairing
your vehicle. Considering that hourly rates can be between
$70 and $100
or more per hour, these costs can
quickly add up.
When you purchase an extended vehicle
warranty plan, you're making a contract between you and an
Just like any contract, you need to
feel certain that the administrator is going to remain in
business and honor
their contractual agreements. Look at
the financial strength of the company. Will they be able to
pay your claim
when you make it? What's their track
record when it comes to customer service? Are they properly
registered to do business in your
state? A variety of resources can be helpful in this
respect, including the
Better Business Bureau and Dun &
Make sure you know
what you'll need to do in order to reap the benefits of your
extended auto warranty plan.
Nationwide coverage, the ability to
choose the repair facility of your choice, and direct
payment to repair
facilities are all options that
determine the best auto warranty plans.
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