27. September 2016
There are many extended car warranty programs to choose from but it can be a bit tricky to find a “reputable” plan to suit your needs. The best way to choose a reliable extended car warranty program is to find a company that makes the following criteria…
1. Make sure the company is in business for 10 years or more. This assures you that they are not only in the business of selling coverage but also successfully paying claims.
2. You want to choose a company that has an A+ rating with the Better Business Bureau and perhaps more importantly, is accredited by the BBB which holds them to a much higher standard of excellent business practices and customer service.
3. You want the warranty program to be directly underwritten by a US-based insurance carrier holding at least an A rating with an industry rating service such as AMBest or Standard & Poors. This will assure you that if any part of the claims administration process fails the underwriter will directly pick up all claims if needed.
There are also many different levels of coverage available for your vehicle. These levels are Powertrain, Major Component Plus, High-Tech Component, Component Type Bumper-To-Bumper, or Exclusionary Bumper-To-Bumper coverage. Depending on the age and mileage of the vehicle all or most of these levels could be available. It is important to look through the different levels of coverage for any companies you are considering side-by-side to make sure that you are purchasing the best coverage available for your needs. Do not rely on plan names such as Platinum, Elite, or Gold as they do not always correctly define the level of coverage you are purchasing. Some less than reputable companies will take a very basic plan and label it with a very fancy name. You want to look at the actual list of what is covered to make sure you are getting what you’re paying for.
All in all, an extended car warranty is an excellent investment and can save you thousands of dollars over the term of the coverage. To begin researching the different types of coverage you can visit Auto Advantage and see what the choices are. It is a great idea to fill out the quote request form and let them send you the specifics including coverage details and pricing.