Six Essentials of Extended Auto Warranties
Extended auto warranties have become the de facto way to protect you from the costly repairs and replacement that come with wear and tear of vehicle use. But depending on the value of your car, make and model and a host of other features, you may come across different standards of what is considered ‘adequate coverage’. In order to get the best understanding of what is good and what isn’t, it helps to have a basic criteria or a set of ‘essentials’ if you will. Below is what is considered by most, the absolute must-have elements of a solid extended auto warranty. Absorb these into your thinking and choosing coverage will be dead simple.
Labor Costs: Many auto warranty companies will make all the provisions in the world for parts, but nothing for labor. This isn’t too bad when you are looking at things like replacing a worn tire; but when you are considering things like repairing a powertrain, the labor costs can be astronomical. Having specific coverage for labor costs can save you a fortune, so always make sure this provision is made in your policy.
Extensive coverage life: If you are acquiring a used car, most warranty companies will only go so far in terms of length of coverage. Since the manufacturer’s warranty might have expired or near the end of its life, an auto warranty company will want to protect itself against the potential costs that would now materialize with age. It means therefore that when you engage a company, you should do your best to get the longest period of coverage where possible. If a company suggests a limit of 6 months, ask for a longer period. And don’t hesitate to pay that little extra if necessary.
Convenience or courtesy car: If you do have to take advantage of coverage under an extended auto warranty, you may do so at your inconvenience. This can happen if extensive repairs or parts replacement is necessary. When this happens it helps to have a car to move around in for the meantime, and nothing satisfies as much a courtesy car. Not all warranty companies will offer this for obvious reasons, but many do and so it pays to seek coverage with these types of companies.
Tire protection: Most standard manufacturer’s warranties don’t usually cover tires. This is due to many reasons, but the chief reason is that tires wear more frequently than most other major parts on a vehicle. When seeking extended coverage, having your tires covered under the policy is mega-important.
Seatbelts and Airbags:The law makes adequate provision for warranty coverage for seatbelts and airbags, and most manufacturers will offer coverage up 5 years or 50,000 miles. This coverage naturally has a finite life and so if you find yourself outside of these parameters; it helps to keep coverage going for these very important elements.
Roadside Assistance: There’s nothing worse than having a breakdown on a remote stretch of road or someplace that just isn’t frequented by vehicular traffic. When this happens, it helps to have what is called roadside assistance. This is offered by many warranty companies; however, not all will make it a part of the basic or standard coverage. If this isn’t a part of standard coverage, find out how much it would cost to have it included. If it’s not too costly, go for it—you won’t regret doing so.
You simply can’t go far wrong by having these six things a part of your extended auto warranty coverage. You can double your chances of finding them in one place by shopping online for coverage. Many warranty companies offer their services online and you can always use the recommendations of qualified third-party websites to make the best choice.