Extended Car Warranty
Extended Car Warranty Video
An extended warranty for cars, also called a vehicle protection plan or vehicle service contract pays the bill for mechanical break downs after your factory warranty expires. As opposed to paying an expensive repair bill, you’re just responsible for a deductible and a one-time or monthly payment.
Some car manufacturers offer extended car service warranties along with the factory warranties they include with new vehicles. But third-party providers have a tendency to offer more coverage options and more flexibility in where you can have your vehicle serviced.
Types Of Extended Car Warranties
While you’ll find a range of coverage options as you look for a service provider, there are essentially three main kinds of extended car warranties. Most vehicle service contracts fall under one of the following categories:
Bumper-to-bumper warranty: The most comprehensive option offered by vehicle warranty companies, bumper-to-bumper coverage is also called “exclusionary coverage.” This is because these warranties come with a short list of components that they do not cover, rather than a list of what they do cover. Extended Car Warranty Video
Stated-component warranty: The majority of vehicle warranties fall into the category of stated-component coverage. These contracts list the components that the plan covers, while anything not mentioned isn’t covered.
Powertrain warranty: The most basic warranty plan most companies offer covers just your car’s most essential components.
What Are The Cost Factors?
Here are some of the variables that can impact the cost of an extended car warranty:
Vehicle condition: What condition your car is in, consisting of the mileage on the odometer and any existing issues it might have will affect how much you pay for an extended warranty. Since higher-mileage vehicles and with existing issues are more likely to experience problems, you’ll have to pay more for coverage.
Vehicle make and model: Some vehicles just cost more to repair than others, so you can bet that those vehicles will cost more to cover. Vehicles that are known to experience troubles at a high rate will also come with a higher warranty cost.
Level of coverage: As you ‘d expect, the greater your level of coverage, the more you’ll have to pay for that coverage. If you want to find the most economical plan, stick to powertrain coverage plans.
Deductible amount: Warranty providers often let you choose the deductible you pay at the repair shop. While you can get a lower rate with a higher deductible, you’ll also have to pay more out of pocket if, and when, you do need vehicle repairs.
Our Team’s Factors Considered
Our expert review team takes satisfaction in providing accurate and impartial information. We identified the following ranking categories based upon customer survey data and carried out extensive research to formulate rankings of the best extended vehicle warranty providers.
Affordability: A variety of elements influence cost, so it can be tough to compare quotes between providers. Our team performs ongoing secret shopper analyses for different vehicles, mileages, warranty plans, and locations to give this rating.
Coverage: Because each consumer has unique needs, it’s important that a car warranty company offers a range of coverage options. We consider the number of plans offered by each provider, term limits, exclusions, and additional benefits.
Industry Standing: Our team considers Better Business Bureau (BBB) ratings, availability, and years in business when providing this score.
Customer Service: Reputable extended car warranty companies operate with a particular level of care for consumers. We consider customer reviews, BBB complaints, and the responsiveness of the customer service team.
With all these points taken into consideration, our team has come up with a front runner, Chaiz.
Chaiz is on a mission to change the extended car warranty industry, and has actually become the very first marketplace for vehicle service contracts. Chaiz enables every person to find vehicle protection that fits their need and budget at their own pace. Chaiz remains independent and will guarantee that service providers are vetted and claim processes are handled professionally. They believe that their role has to be greater than simply a marketplace but to make it possible for all parties involved to evolve into a digital-first experience from A-Z with the customer truly at the heart of the experience. Extended Car Warranty Video
Digital first essentially means they will never call you or push you to a sale. Do your own research, find the right plan and purchase it 100% online.
Our team found that if you buy a plan through Chaiz you save on average 60%!