When it comes to protecting your car, an extended auto warranty can be a great option. But with so many companies offering different plans, it can be hard to know which one is the best for you. In this article, we'll take a look at the different types of extended warranties available, what to look for when choosing a provider, and how to get the most out of your extended warranty.
What is an Extended Auto Warranty?
An extended auto warranty is a service contract that covers certain repairs and maintenance costs after the manufacturer's warranty has expired. It can help protect you from unexpected repair costs and provide peace of mind when it comes to your car's maintenance.
Depending on the provider, an extended warranty may cover parts, labor, and even consequential damages.
Types of Extended Auto Warranties
The two main types of extended auto warranties are Elite plans and Endurance Advantage plans. Elite plans typically don't cover vehicle maintenance costs, while Endurance Advantage plans do. Endurance contracts also include a consequential loss clause, which means that the company will only cover the components contained in the contract and not incidental or consequential damages. Endurance also offers mechanical protection policies, which are their extended warranty coverage offering.
Where to Buy an Extended Auto Warranty
You can buy an extended warranty from your car manufacturer or from an outside company, and the price is generally the same between the two.
At WalletHub, we offer incredible extended warranty packages for cars to ensure that the maximum number of people have the opportunity to take full advantage of these services.
How to Choose an Extended Auto Warranty Provider
When choosing an extended auto warranty provider, it's important to do your research. We analyzed BBB's complaints and quickly realized that Olive responded to almost all of them with a statement that read: “Olive sells insurance against mechanical breakdowns to consumers for their cars.” Our publishers then ranked the companies by total points to determine the most reputable extended car warranty companies.
Benefits of an Extended Auto Warranty
An extended warranty helps protect you by covering the cost of certain repairs in the event of a mechanical or electrical component failure. The main difference between insurance against mechanical breakdowns and an extended warranty is where you buy them. Mechanical breakdown insurance (MBI) is generally purchased through an auto insurance company, while extended warranty is generally purchased through a dealer, manufacturer, or outside company.
Patriot Extended Car Warranty
You should be interested to know what a Patriot extended car warranty offers for you and your car. These extended warranty companies rank first because of a combination of low prices, varied coverage options, and strong ratings from industry watchdogs.
When Can You Buy an Extended Auto Warranty?
You can purchase an extended warranty from a reputable third-party vendor almost any time after purchase. The value of an extended car warranty will depend on several factors, including the type of car you're covered for, your financial situation, and the level of risk you're comfortable with.
Canceling Your Extended Auto Warranty
You can cancel a car's warranty extension at any time, but you'll only receive a full refund within the first 30 to 60 days, depending on the provider.