Do you really need car warranty insurance?
That's the question you may be asking yourself if you've just purchased a used or second hand car and you're not feeling 100% confident that you didn't buy a lemon. I've been there!
That's not to say that warranty insurance is only a good idea if you're dealing with a lemon, but it sure comes in handy if you are. :)
Let's start with the basics, shall we? You probably know what a warranty is, and even an extended warranty. Almost any time you purchase a new high end product these days, you're asked if you want to purchase an "extended warranty."
You want to know that when you've paid good money for something, you're actually going to get good use out of it. I know I sure do.
That's what a warranty is - a guarantee that you are getting what you paid for and that it will work as designed for a specific period of time.
I personally tend to pass on buying the extension and just stick with the original manufacturer's warranty, but I've been bitten as a result (red faced).
Some products are more susceptible to breakdowns and electrical glitches, etc., than others.
What's really frustrating is when your purchase breaks down shortly after the guarantee expires! Ugh! That can cost you a pretty penny in repairs, especially if your purchase was an automobile.
That's where car warranty insurance comes into play.
Purchasing warranty insurance coverage for a second hand car or even for a new car once the original warranty has expired is an option that protects you from the cost of mechanical or electrical repairs that can add up to a tidy sum.
Ideally, you would never have to use your warranty coverage, in which case the money may be considered "wasted." Of course, those offering warranty insurance coverage would insist that you were purchasing "peace of mind." :)
And so you may be! It can be a real trial on your finances to have a sudden and unexpected repair bill spring up. We all know that financial pressures will inevitably lead to stress and a lack of peace. In that case, I guess you would be buying peace of mind. ;)
Some of the top auto insurance companies in the US and the UK are offering warranty insurance to their clients these days. In fact, when it comes to car insurance UK, warranty cover is becoming more and more popular each year.
British drivers will find that they can get car insurance UK warranty quotes from places like Warranty Direct, Warranty Wise, and Click 4 Warranty.
As for US drivers, you may be much better off purchasing your warranty insurance from a reliable auto insurer than to use one of the little companies that spring up offering this service only.
In fact, I would suggest that you get a quote for the Good Sam Extended Service Plan as they are an excellent company and have a reputation for really looking after the needs of their customers.
If Good Sam isn't for you, there are companies like AAA, Geico, USAA, and others that offer a warranty service, but they often call it by another name. Here are a few tags often used that might ring a bell...
Like I said, there are also a number or warranty companies that specialize, and some of them are pretty good and reliable. Be sure to do your research first before settling on one of them.
A few of the top warranty companies as rated by the BBB and A.M. Best are as follows...
Whichever avenue you wish to go down, make sure you read and understand all the fine print and be sure you know what it is exactly you are getting. Car warranty insurance options vary and you want to be certain you get the coverage you need.