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Extended car warranties can help protect you from unexpected repair costs. They can give you peace of mind knowing that you're covered if something goes wrong with your car. There are many different extended car warranty plans available, so you can find one that fits your needs and budget. You can purchase an extended car warranty from your car dealership, or from a third-party provider. When choosing an extended car warranty, it's important to compare plans and providers carefully. You should also make sure that the plan you choose covers the specific repairs that you're concerned about.
They can help you save money on repairs and provide you with peace of mind knowing that you're covered if something goes wrong with your car.
Extended warranties generally come in 3 different levels of protection and each level is reflected by the cost of the warranty policy. Often, extended warranty companies use names like Platinum, Gold or Silver to reflect the level of protection they provide.
*Platinum being the premium program with the best overall coverage of parts and labor with the smallest deductible.
*Gold is middle of the road parts and labor coverage and deductible. From what I've experienced the mid-range plans generally have a $100 deductible.
*Silver being the basic coverage with the largest deductible with the least amount of parts and labor coverage.
Yes, there are a number of reasons an extended warranty company can say, "Tough luck" and void your car's extended warranty. These include:
*Abuse or misuse of the vehicle. This could include things like racing, off-roading, overloading the vehicle or adding a trailer hitch.
*Modification to the vehicle such as suspension, engine or driveline. Items like over-sized tires, offset rims, exhaust modification are just a few of the changes that can void your warranty and you're out the money. They always ask about this and have even requested pics of the vehicle to confirm.
*Not following the maintenance schedule outlined in the contract! A sad example was a customer that had a turbo BMW. This owner followed BMW's oil change recommendation and the turbo seal started leaking. "Sorry no coverage for you", the warranty company said; the contract clearly states that you were to change the oil every 5,000 miles. Be sure to read all the black and white of your contract.
*Don't even think of changing the oil yourself. Extended warranty contracts clearly state that regular service must be performed with documented mileage, date, etc.,,by a recognized repair facility. Under the shade of the tree repair shops will void the contract even if you have the receipts from the parts store!
*Failure to perform routine maintenance. This includes things like oil changes, transmission fluid changes, brake fluid flushes, etc. If it's in the contact follow the contract guidelines or the vehicle manufacturer's if it calls for more frequent services. Once again these services must be performed by a recognized repair facility and be properly documented.
In the event the repairs needed to your vehicle are the result of a natural disaster such as floods, fires, earthquakes and rodent damage, you need to call your auto insurance company instead.
If you live in the rust belt or have purchased a vehicle from our winter salt flavored world understand there's no coverage provided for parts that fail due to rust and corrosion. For example, most (depending on the policy) engine or driveline oil leaks are covered, unless it is due to rust or corrosion. A leaking oil pan gasket may be covered, but if the leak is due to a rusted oil pan it is not covered. Same goes for power steering, transmission oil cooler, engine oil cooler, brake lines and lines damaged by rust or corrosion.
My overall experience has been pretty good with extended warranty companies. When our customers have needed to use their warranty and have followed the terms of the contract they've saved money on repairs. There have been many times they have saved more than the cost of the contract.
Be sure to:
Read and understand your Extended Warranty Contract. Get all of your maintenance performed and documented (date & mileage) at a qualified repair shop. Keep all of your maintenance records. If you make any modifications to your car, make sure they are approved by the manufacturer. By following these tips, you can help protect your extended warranty and keep your car in good condition.
If you need help understanding what is or what is not covered by your contract reach out to us by using our Quick Contact form...we are here to help.
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