The best extended car warranty companies are Carchex and autopom!, according to WalletHub’s analysis of 11 major providers. These extended warranty companies rank highest due to a combination of low prices, varied coverage options, and strong ratings from industry watchdogs. Show
The Best Extended Car Warranty Companies
An extended car warranty is a vehicle service contract that pays for repairs to a vehicle’s major mechanical components, including the transmission and engine. In addition to repair coverage, many extended warranty providers offer benefits such as towing services, rental car coverage, and travel insurance. You can purchase an extended warranty directly from your vehicle manufacturer or from a third-party provider. Find Cheap Car InsuranceZip Code Age Age
Currently Insured? Find Insurers Best Extended Car Warranty CompaniesCARCHEXRating, 4 out of 5 623 Reviews (623)Learn MoreThe best extended car warranty company is Carchex because it offers five levels of coverage, with multiple contract options ranging from 12 to 84 months. In addition to the specific components covered by each plan, all Carchex extended warranties include additional perks such as 24/7 roadside assistance, towing, rental car reimbursement, and trip interruption service. Carchex warranties are written and backed financially by American Auto Shield, Royal Administration Services, and Allegiance Administrators, making them more secure than many other options on the market. autopom!Rating, 4.5 out of 5 96 Reviews (96)Learn MoreAutopom! offers four categories of plans for drivers to choose from, and each categories offers multiple contract options with different providers. The exclusionary plans cover every part of the car with only a few exceptions, while the basic powertrain coverage includes coverage for power window doors/locks. Autopom! contracts also include extra benefits such as tire protection and rental car assistance. EnduranceRating, 4 out of 5 1,823 Reviews (1,823)Learn MoreEach of the four plans offered by Endurance is designed to meet a driver’s specific needs, whether that’s covering a vehicle with up to 150,000 miles or finding the closest option to manufacturer-level coverage. In addition, all Endurance warranties are secured financially by AmTrust Financial Services, meaning that all approved claims are guaranteed to be paid out if Endurance fails. However, despite its highly competitive coverage options, Endurance has only earned a “C” rating from the Better Business Bureau based on its reliability and performance as a company. Toco WarrantyRating, 4 out of 5 280 Reviews (280)Learn MoreToco Warranty offers three coverage options that are sold based on the age and mileage of the vehicle. The Yellow and Orange plans offer the most comprehensive coverage, including coverage for high-tech systems and a vehicle’s suspension. Even the basic Blue plan covers additional systems like air conditioning, too. Toco earned an “A+” rating from the Better Business Bureau, and its policies are backed by AmTrust Financial Services. Omega AutocareRating, 4 out of 5 763 Reviews (763)Learn MoreOmega only offers three plans, based on a car’s age and mileage, and their prices are slightly above average. However, their coverage is fairly extensive compared to some competitors, and they offer benefits such as towing, roadside assistance, rental car reimbursement, and maintenance. They are also a reliable company, having received an “A+” from the Better Business Bureau. Infinite Auto ProtectionRating, 4 out of 5 96 Reviews (96)Learn MoreInfinite only offers three plans, though its most basic policy is slightly more comprehensive than the cheapest policies offered by some of its competitors. In addition, Infinite’s Prime plan offers unique high-tech protection that covers features such as automatic temperature control and power window motors. The company boasts a commendable “B+” rating from the Better Business Bureau. However, its plans do not have any additional financial backing, so if the company fails financially, claims are not guaranteed to be paid. Concord Auto ProtectRating, 5 out of 5 701 Reviews (701)Learn MoreConcord’s extended warranty plans are not unique compared to those of its top competitors, but Concord still offers enough coverage to be considered a good option. The company has also received high marks for its customer service, and all of its plans include 24-hour roadside assistance, gas delivery, and trip interruption coverage. Unlike other reputable warranty providers, however, Concord does not have financial backing from an outside company, so policies do not have an additional safety net if the company fails. CarShieldRating, 4 out of 5 7,285 Reviews (7,285)Learn MoreCarShield’s extended warranties are good for drivers who want short-term coverage. Unlike other extended car warranty providers, CarShield offers month-to-month extended warranty coverage for as little as $99 per month. However, drivers should exercise caution before purchasing an extended warranty from CarShield. According to the Better Business Bureau, there has been a pattern of customer complaints alleging poor customer service and a failure to cover repairs, among other things. Best Extended Car Warranty Companies ComparisonRankCompanyWalletHub User Rating1Carchex4.1/52autopom!4.5/53Endurance4.1/54Toco Warranty4.1/55Omega Auto Care4.2/56Infinite Auto Protection3.8/57Concord Auto Protect4.8/58Carshield4.0/5 How to Get the Best Extended Car WarrantyShop around for the best dealYou should get quotes from at least three different extended warranty providers before purchasing a plan, just like you would if you were shopping for car insurance. Considering how many reputable companies there are on the market, you should be able to find a policy that meets your needs and fits within your budget. Check a company’s reputationIn addition to a good price, you should look for a reputable extended warranty provider with a strong customer service record. One of the best ways to do this is by checking a company’s rating with the Better Business Bureau, which bases its scores on factors such as customer complaints and company reliability. Consider alternativesIf you’re struggling to find an affordable extended car warranty, you should consider purchasing mechanical breakdown insurance (MBI) instead. MBI is a type of insurance offered by several major companies that provides coverage similar to an extended warranty. However, MBI is much more affordable, only costing about $100 each year. MethodologyWalletHub editors identified the best extended car warranty companies by comparing 11 major providers based on the following factors:
Companies earned a maximum of 5 points for each category. WalletHub editors then ranked the companies by total points to determine the most reputable extended car warranty companies. Video: Best Extended Car WarrantyBest Extended Car Warranty FAQ(35 questions)Ask Your Question Most Popular
Questions sort 10 Reply 10 0  WalletHub @WalletHub Extended car warranties are worth it if a driver doesn't carry sufficient savings to pay for vehicle system repairs or is worried about their car's reliability. But for most drivers, extended car warranties go unused, so the potential benefits are not enough to justify the upfront cost. When An Extended Car Warranty Is Worth It A good time to consider the value of an extended warranty is when the manufacturer's warranty on your vehicle has expired or will expire soon. This typically happens after three years or 36,000 miles, depending on which comes first. If you plan on keeping your car beyond the manufacturer warranty's expiration, then purchasing an extended warranty might give you peace of mind moving forward. An extended warranty might also be worth it if you're concerned about your ability to pay for major mechanical repairs in the future. Car repairs cost about $400 on average, which is less than the $1,500 average for an extended warranty. On the other hand, the least common and most catastrophic mechanical failures can often cost several thousands of dollars to repair. If your car isn't very reliable and you're not in the financial position to risk either paying for repairs or replacing the car yourself, it might be worth it to pay a higher upfront cost for protection through an extended warranty. When An Extended Car Warranty Isn't Worth It
Bear in mind that you don't have to purchase an extended warranty when you buy your car. It's likely a smart move for you to wait until the manufacturer's warranty is about to expire to evaluate your situation and determine whether you want to pay for an extended warranty. To learn more, check out WalletHub's guide to the best extended car warranties. 0 0 What is the average cost of an extended car warranty?12 UpvotesReply 12 0 WalletHub @WalletHub An extended car warranty costs around $1,500. The exact cost of an extended car warranty depends on several factors, including the condition of the car, the car's mileage, and the amount of coverage included in the warranty. Factors That Affect Extended Car Warranty Cost An extended car warranty pays for repairs to a car's major systems if they malfunction. If you drive an older car or a car with higher mileage, your warranty will be more expensive because your car is more likely to experience mechanical problems. Similarly, the more coverage that you include in your warranty, the more you're going to pay. How to Shop for an Extended Car Warranty If you want to purchase an extended warranty for your car, you should get quotes from multiple sources in order to find the best price. You can purchase an extended warranty from your car's manufacturer or a third-party company, and the pricing is generally the same between the two. However, customer satisfaction tends to be higher for warranties from the manufacturer. Many insurance companies also offer an alternative to extended warranties called mechanical breakdown insurance (MBI). MBI provides similar coverage and only costs about $100 per year. 0 0 Is CarShield a rip-off?2 UpvotesReply 2 0 WalletHub @WalletHub No, CarShield is not a scam or a rip-off, but it is a below-average company. CarShield is a legitimate company that has been providing vehicle service contracts for over 16 years and has earned a 4/5 rating from the consumer review on WalletHub, yet it has a history of complaints reported to the Better Business Bureau. Why CarShield Isn't a Rip-Off
Why CarShield May Be Right For You CarShield offers vehicle service contracts – better known as extended warranties – that are designed to cover car repair costs stemming from mechanical issues. They offer several different plans, with prices starting at $99 per month. In contrast, many mechanical issues can cost thousands to repair. For example, transmission repairs can range from $300 to over $1,500. Most other extended warranties require long-term commitments. For example, Carchex contracts range from 12 months to 84 months. So, if you are looking for short-term coverage, the monthly CarShield option may be right for you. Just make sure you understand everything that their plan does and does not cover before making a decision. Alternatives to CarShield Considering the numerous complaints against them through the BBB, you may find that a better option is putting the money you would have spent on an extended warranty into a savings account every month. Then, if you need to pay for a repair, you can use the money you have stored away. Another alternative is to consider buying mechanical breakdown insurance (MBI) from a car insurance company. MBI covers the major systems in your car, from engines to air conditioning, and only costs about $100 a year. However, not all insurance companies offer MBI, so ask your insurer if it is available to you. To learn more, check out WalletHub's guide to extended warranties. 0 0 View more answers Does AAA offer extended car warranties?12 UpvotesReply 12 0 WalletHub @WalletHub Yes, AAA offers a type of extended warranty. The AAA extended warranty program is called the AAA Vehicle Protection Plan, and it covers the cost of repairs to the engine, transmission, suspension, steering, and brakes, among other things. The cost of AAA's Vehicle Protection Plan varies depending on the vehicle, but it averages about around $2,400 for a 4 year plan, though vehicles with expensive parts can cost twice that. In general, extended warranties are meant to keep drivers from paying out of pocket for sudden repairs, since mechanical problems are not covered by other types of auto insurance. What AAA Extended Car Warranties Cover
Coverage details can vary depending on which AAA plan you choose. Additionally, since the AAA Vehicle Protection Plan is designed to supplement the original manufacturer's warranty, cars must meet certain requirements to qualify. AAA Extended Warranty Eligibility Requirements
Coverage and eligibility details can vary by state. It's also worth noting that the AAA Vehicle Protection Plan is technically a vehicle service plan, which provides the same coverage as an extended warranty. However, vehicle service plans are offered by car insurance companies, whereas extended warranties are generally sold by dealerships or third-party companies. For more information, check out WalletHub's guide to extended car warranties. 0 0 View more answers Does Allstate offer extended warranties?4 UpvotesReply 4 0 WalletHub @WalletHub Yes, Allstate offers a type of extended warranty. The Allstate extended warranty program is called Extended Vehicle Care, and it covers the cost of repairing the engine, transmission, brakes, suspension, and steering, among other things. The cost of Allstate Extended Vehicle Care varies depending on the vehicle, but it averages about $25-$60 per month. In general, extended warranties are meant to keep drivers from paying out of pocket for sudden repairs, since mechanical problems are not covered by other types of auto insurance. Allstate Extended Warranties Cover:
Coverage details can vary depending on which Allstate plan you choose. Additionally, since Extended Vehicle Care is designed to supplement the original manufacturer's warranty, cars must meet certain requirements to qualify. Extended Vehicle Care Eligibility Requirements
Coverage and eligibility details can vary by state. It's also worth noting that Extended Vehicle Care is technically a vehicle service plan, which provides the same coverage as an extended warranty. However, vehicle service plans are offered by car insurance companies, whereas extended warranties are generally sold by dealerships or third-party companies. For more information, check out WalletHub's guide to extended car warranties. 0 0 Does Geico offer extended warranties?2 UpvotesReply 2 0 WalletHub @WalletHub No, Geico does not offer extended warranties. Although Geico does not have an extended warranty plan, it does sell mechanical breakdown insurance, which is similar to an extended warranty and covers repairs to all mechanical parts of the vehicle. To qualify, cars must be new or leased, less than 15 months old, and have less than 15,000 miles. Geico mechanical breakdown insurance (MBI) is an inexpensive alternative to an extended warranty. Extended warranties usually cost around $1,500, whereas the price of MBI is often about $100 annually. For more information, check out WalletHub's guides to mechanical breakdown insurance and extended car warranties. 0 0 View more answers Does American Family offer extended warranties?3 UpvotesReply 3 0 WalletHub @WalletHub Yes, American Family offers a type of extended warranty called a vehicle service plan. The American Family vehicle service plan, ForeverCar, covers the cost of repairing major mechanical components, like the engine, transmission, brakes, suspension, and steering, among other things. The cost of American Family ForeverCar varies depending on the vehicle, but it averages about $45-$75 per month. American Family's ForeverCar vehicle service plan is similar to an extended warranty. The difference is that vehicle service plans are offered by car insurance companies, whereas extended warranties are generally sold by dealerships or third-party companies. Extended warranties and vehicle service programs are meant to keep drivers from paying out of pocket for sudden repairs, since mechanical problems are not covered by other types of auto insurance. American Family Extended Warranties Cover:
Additionally, since ForeverCar is designed to supplement the original manufacturer's warranty, cars must meet certain requirements to qualify.
Coverage and eligibility details can vary by state and depending on which plan you choose. For more information, check out WalletHub's guide to extended car warranties. 0 0 How much does CarShield cost?7 UpvotesReply 7 0 WalletHub @WalletHub CarShield costs $99 per month and up, though prices vary by state, driver, and specific vehicle. CarShield sells vehicle service plans, which are similar to extended warranties and will cover the cost of repairs to the car's systems and mechanical parts. Key Things to Know About CarShield Plans
Specific details may vary based on which CarShield plan drivers purchase, but this list provides a good example of CarShield coverage. CarShield vs. Extended Warranties From Major Insurers Company Cost CarShield $99 per month and up Allstate $25-$60 per month AAA $40-$80 per month Liberty Mutual $40-$150 per month Although exact coverage may differ for the providers above, all of them cover the main parts or systems. These include the engine, transmission, brakes, suspension, and steering. It's also worth noting that mechanical breakdown insurance from a car insurance company is often a cheaper alternative to a third-party vehicle service plan or extended warranty. For more information, check out WalletHub's guides to mechanical breakdown insurance and extended warranties. What is the best extended car warranty company?Best Extended Car Warranty Companies. CARCHEX. Rating, 4 out of 5 623 Reviews (623) ... . autopom! Rating, 4.5 out of 5 96 Reviews (96) ... . Endurance. Rating, 4 out of 5 1,823 Reviews (1,823) ... . Toco Warranty. Rating, 4 out of 5 280 Reviews (280) ... . Omega Autocare. ... . Infinite Auto Protection. ... . Concord Auto Protect. ... . CarShield.. What company is better than CarShield?Compared to CarShield, CARCHEX offers more differentiated coverage between tiers. The Titanium plan is available for new and pre-owned vehicles, and optional vehicle coverage for high-tech electronics and windshield repairs is also available.
Is 7 year extended warranty worth it?When it comes to the long-term cost of your car, extended warranties are generally “a bad deal,” says Gillis. In a Consumer Reports survey, 55% of people who purchased an extended warranty never touched it. Among those who did use the warranty, most saved less on repairs than they paid for the contract.
What are two reasons not to buy an extended warranty?5 Reasons Not to Purchase the Extended Warranty. Insurance is a losing proposition. It has to be. ... . You may be purchasing insurance you already have. ... . The fine print can be costly. ... . Your purchase will depreciate quickly. ... . You may forget about the warranty.. |
Which extended car warranty is the best
Related Posts
Copyright © 2024 en.frojeostern Inc.
