It’s like buying umbrella insurance, that way you are buying an extended period of coverage for your car. Maybe you’ll never need it, but when it rains and burns that umbrella you wish you had it. The thing is, in most cases people sign up for coverage without even skimming a review. Looking into vehicle protection plans find out more through Extended Car Warranty Reviews.
First let’s name the big names. Autopom!, CARCHEX and Endurance are all solid companies that get praise from consumers. In particular, Endurance has a great reputation for their direct to consumer pricing. That means they don’t eat a portion of your coverage. The customers say their claims process is quick and the reimbursements aren’t bad. That’s rare. Imagine parking in downtown Manhattan.
However, this can become a situation that gets complicated. A lot of warranties have a lot of limitations in the fine print. A user on Reddit wrote up the time he had his transmission repaired, which was $3,200, and was ultimately denied because one sensor was not included in the “covered components”. Painful. This is the case we see again and again in reviews posted in the Better Business Bureau or on Trustpilot. With the low monthly payments comes limited coverage. Let the baby beware, you will get what you pay for or less.
Not all third party warranty companies are the same. Some are just downright shady, they take your premiums for 18 months and then they just fold before you are about to file a claim. Thousands of motorists have ended up paying into contracts that are worthless by American Warrior Shield and other short-lived companies. That is why it is very important to always check the financial backing and BBB rating of a company before you invest in it. A good practice to adopt would be to search for the name of the company and then type in “complaints” and on the first result is all that you need to know.
Then what are you looking for? Wear-and-tear, not just catastrophic failures. If you are going to sell, get a contract that you can transfer. A 30-day money-back guarantee. Preferably a 24 hour a day roadside assistance as part of the deal. Check out the number of reviews posted on actual customers, not the promotional ones included by the company in their website. Another 200,000-mile car that’s listed as “runs great.” Do your research, review at least three vendors, and don’t go in with no idea, just high pressure salesperson making the deal for you. There is the right warranty. It’s just a matter of digging up.