Extended Auto Warranty
Buying an extended car warranty can give you peace of mind after the factory coverage on your new car expires. In this article, we at the Guides Auto team will highlight the top 10 extended warranties that stand out from our thorough research of the warranty industry.
extended auto warranty
Endurance holds the No. 1 spot in our industry-wide best extended car warranty review. The company offers flexible coverage options with term limits up to 8 years or over 200,000 miles. Every Endurance warranty comes with extra perks like roadside assistance, trip interruption benefits and rental car reimbursement for the duration of the contract.
Endurance offers six coverage plans, starting with an exclusionary plan that covers all components except for those specifically listed as excluded in the contract. You can also choose from several stated-component plans, which list every covered component in the agreement, and a plan that combines warranty and maintenance coverage.
During our research, we found that an Endurance warranty tends to cost around $546 to $612 per year of coverage. The total costs for Endurance plans range from around $2,990 to $3,990, depending on the service plan you choose.
An extended car warranty (also called a vehicle protection plan or vehicle service contract) foots the bill for damage caused by defective materials and workmanship after your factory warranty expires. In doing so, they protect you from having to pay out of pocket for certain vehicle repairs or part replacements.
The specific parts and repairs covered in your extended warranty depends on what coverage level you choose. The three main types of extended warranty coverage plans are bumper-to-bumper, stated component and powertrain.
Depending on which plan you choose, extended car warranty deductibles range from $0 to $200. When different coverage levels, deductibles, and other factors are taken into consideration, this means that the total cost of an extended warranty carn range from $1,500 and $4,000.
To ensure you get the best coverage at a price you can afford, it helps to understand how providers determine extended warranty pricing. Factors that are impotent in determining the special cost you will pay for coverage include:
Since those with higher repair costs benefit most from extended warranties, your expected vehicle repair expenses are the most important factor in determining whether or not an extended car warranty is worth it. Here are some average annual repair costs for popular automakers, according to RepairPal:
If you own a highly reliable vehicle with inexpensive repair costs or plan to sell your car before the factory warranty expires, a vehicle protection plan may not be worth the cost. This is also true for drivers with savings set aside for auto repairs.
In addition to those who own vehicles that are unreliable and expensive to maintain, an extended warranty may be well worth the cost for some drivers because of the peace of mind that vehicle service contracts offer.
In this article, we reviewed the top extended auto warranties in the industry. Along with discussing the top providers in detail, we touched on extended warranty coverage, cost and whether or not an extended car warranty is worth it.
Extended car warranties can be worth it for drivers looking for peace of mind after their factory warranties expire. They may also be worthwhile investments for those with unreliable cars and drivers looking to establish predictable auto budgets.
A fair price for an extended car warranty is generally between $1,500 and $4,000. While this is a wide range, over 45% of the 1,000 respondents in our car warranty survey reported paying about $1,500 to $2,500 for their vehicle service contracts.
Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best extended car warranty companies. We collected data on dozens of auto warranty providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, with the companies that scored the most points topping the list.
Each year, our research team collects hundreds of data points on warranty companies to rank the most reputable providers. We compare quotes and customer service through secret shopping, evaluate contract transparency, and analyze warranty coverage options. After our industrywide review, we found the best extended warranty companies to be:
This rating is based on types of extended warranty plans available, coverage terms, and added benefits like roadside assistance. A company scores high if it offers more than three plans and mileage limits over 150,000 miles. We also note if a company offers coverage for maintenance items like brake pads, because this is uncommon in the industry.
Transparency is an important quality to look for in extended warranty providers. Some companies make it easy to find sample contracts and read the fine print, while others make it difficult. Our transparency score takes into account sample contract accessibility as well as the presence of a money-back guarantee.
Our goal is to present a range of reputable extended car warranty providers for shoppers to compare. There is no one-size-fits-all answer. However, there are a number of extended car warranty companies that rise above the rest. We will review our top picks in this article.
Our team surveyed 1,000 extended warranty customers to learn what matters to consumers. When asked which factors are most important when purchasing an extended warranty, most respondents said coverage was the most important factor. Here are the top five things people look for when shopping for extended coverage:
These answers influenced how we weighted different categories of our methodology. We also asked customers if they were satisfied with their extended warranties or not. Overall, 65% were satisfied, while 13% were dissatisfied to some degree.
You can get extended warranties from manufacturers, like Honda and Ford, or from third-party companies like Endurance and CarShield. Manufacturer extended warranties offer factory-trained technicians and OEM parts, but they require you to visit a dealership for repairs and may not last as long as third-party options. Below are a few pros and cons of each.
Reputable extended car warranty company that offers six levels of coverage and has excellent customer reviews. It is our choice for Best Coverage and our top overall pick for extended warranty providers.
In the extended warranty industry, $50 a month is a great monthly payment. All the ForeverCar quotes our team received were around $50 per month for 36 months. Plans last three years regardless of mileage, so once the payment is over, the plan is over. Once your plan expires, you can reapply and start another contract if your car is still eligible.
With each of the plans, you can get benefits such as towing and rental car reimbursement. As for pricing, Olive is cheaper than many other top providers of vehicle service contracts. Our team reached out for quotes for different vehicles and received extended warranty rates that were consistently lower than other leading companies.
CarShield sells plans from multiple providers, including American Auto Shield, and operates as the liaison between the customer and a warranty company. It has several levels of coverage for new and used cars, but we especially like its protection for specialty vehicles and high-tech systems and components.
Protect My Car stands out because it has high customer satisfaction ratings, which is fairly unusual for the extended warranty industry. On the BBB, customers rate Protect My Car 4.1 out of 5.0, and on Trustpilot customers rate it 4.4 out of 5.0.
Protect My Car offers three plans: Supreme, Select, and Driveline. The Supreme plan is similar to a factory warranty, while the Driveline plan covers the powertrain plus a few more systems. Protect My Car can cover up to 200,000 miles, which makes it another good option for high-mileage vehicles.
Based on our research, autopom! tends to cost between $130 to $160 per month depending on the coverage level you choose. The total cost of an extended warranty from autopom! ranges from $4,700 to $5,800, which is slightly higher than the average range.
Based on our research, extended warranties lasting between three and six years cost anywhere from $1,600 to $4,500 on average. Bumper-to-bumper warranties tend to be more expensive, as they cover more components. Longer-lasting coverage also increases the contract price. Other factors that affect car warranty costs include:
A good price for a comprehensive extended car warranty is between $2,000 and $3,500 in total. Prices vary depending on the coverage and limitations you select. Many companies offer monthly payments that range from $80 to $125.
You can buy an extended warranty from a reputable third-party provider at almost any time after purchase. Manufacturers, on the other hand, usually require you to buy an extended warranty before the factory warranty expires. Some only allow you to buy one when you purchase the vehicle.
An extended warranty helps protect you by covering the cost of certain repairs if a mechanical or electrical component breaks down. Exactly which parts are covered depends on your contract. Typically, there are two types of coverage plan options: exclusionary coverage and named-component coverage.
After purchasing your contract, most warranty providers require you to go through a waiting period until you can use your coverage. This helps protect the provider from someone purchasing a warranty right after discovering an issue with their car. Most extended warranties require you to wait 30 days and 1,000 miles before making a claim for car repairs.
Reputable extended car warranty companies will allow you to cancel a warranty for a full refund within 30 days. They will also provide prorated refunds after that. You will need to contact the contract administrator and provide a written odometer statement to cancel the extended car warranty. 041b061a72