Shelling out good money to purchase an automobile is something that almost every individual does in his or her lifetime. After this, it takes a few smart decisions to ensure that your investment, your wallet and your automobile are protected. One such smart decision is to go in for an auto extended warranty. Here are the top benefits of this decision.
Expecting the unexpected
With an extended warranty covering your automobile, you can indeed be prepared for the future that may be fraught with:
- Unexpected repair costs
- Breakdowns when you least expect it
- Necessity to access a qualified mechanic
- Roadside assistance and even
- Support services such as towing and rented car.
What type of plan should you choose?
Broadly speaking, extended warranty plans cover the entire car and its components or listed components only. Sometimes known as a bumper to bumper contract, a comprehensive coverage will list specific items that are not covered under the plan. The key word here is ‘not covered’ and this kind of plan is perhaps the most inclusive that you can find. In some cases, such a plan may be applicable only to vehicles that have not exceeded a certain number of miles.
Listed component contracts; as the term denotes, cover only very specific components of your car. Again, depending on the age of your car and the number of miles that you have driven, you can hope to enjoy coverage for components such as:
- Air conditioner unit
- Power train
- Brake system and so on.
It would be a good idea for you to analyze which component of your car is most prone to break down and then check out whether you can get coverage for the same.
Factory warranty and extended warranty
Every new automobile comes with a manufacturer warranty or a factory warranty and this takes care of all kinds of mechanical and electrical components and failures. In most cases, this should be enough to give you peace of mind as far as repair costs are concerned. But what happens when the factory warranty expires but your car still is in great shape?
Here is where an extended warranty comes into play.
Another advantage offered by the extended warranty is the support of services such as 24 x 7 roadside assistance. Not too many car manufacturers offer this kind of facility!
It is also very good idea for you to buy an extended warranty when you buy your new car. As time goes by, the cost of coverage of components is bound to increase because of the age of your car. Therefore, you will see that the benefits of an automobile extended warranty turn out to be stronger as the time goes by.
It would be a good idea for you to check out whether you can read the contract before you sign on the dotted line. This will give you the opportunity to review the same and find out about how the claims are processed and how the repair costs are meant. All of which simply means that you can sit back and enjoy the benefits of an automobile extended warranty along with your new car.