A car extended warranty can reduce financial stress during a mechanical breakdown. However, not all warranties are created equal. Some have service requirements and depreciation clauses.
The best car extended warranties have competitive rates and clear terms. They also offer a wide selection of coverage options and perks. For example, Autopom! has a simple claims process and offers tire protection.
Olive
With tens of thousands of verified reviews on ConsumerAffairs, Olive is one of the best car extended warranty companies. This provider’s plans cover a wide range of repairs and offers perks like roadside assistance, rental reimbursement and trip interruption insurance. However, consumers should make sure they read the fine print to ensure their vehicle meets the company’s coverage requirements.
Olive is a top-rated choice for cars with high-tech electronics and EVs. It also offers a range of other plans, such as a Powertrain plan for vehicles with less than 100,000 miles that covers the internally lubricated engine components and oil system, while a Complete Care plan adds the serpentine belt.
While it’s important to compare multiple providers to get the best price, don’t forget to consider the company’s reputation and customer service record. It’s worth paying more for a warranty company that has a good track record of responding to complaints. Also, be sure to check whether the company will let you transfer a contract if you sell your car.
Autopom!
As a broker, Autopom! works with four different vendors to provide customers with a variety of car warranty plans. Its coverage options include Exclusionary, Mid-level named component and Powertrain Plus plans. Each of these has different coverage terms, maximum term limits and location restrictions. The company’s website provides details about each plan, including a summary of what is covered and a list of excluded components.
The company’s customer service representatives are very knowledgeable and have a consultative sales approach, which is an important element in any extended warranty provider’s business model. The company’s policies also offer a money-back guarantee within 30 or 60 days, depending on the plan and state. The BBB has an A+ rating for the company, and Trustpilot gives it 4.7 stars. Its customers like the fact that they can use any facility for repairs, unlike many warranties that require the use of specific repair shops or mechanics. Plans also include rental car reimbursement and nationwide roadside assistance.
Toco Warranty
The pay-as-you-go trend is not just limited to TV services, and it’s also becoming more common in the auto industry. One company to jump on this bandwagon is Toco Warranty, a seller of vehicle service contracts that offer affordable monthly payments. Its user-friendly website makes it easy for consumers to see what their plan covers and purchase online. The company is backed by AmTrust Financial, which has an AM Best rating of A+ and a BBB A+. While there are a few negative Toco warranty reviews, most customers appreciate the company’s professional and friendly customer service and hassle-free claims processing.
Toco’s comprehensive plans cover a variety of car repair costs, and its road assistance providers can help you if you need a jump start or a gas delivery.
Autonomy
A vehicle warranty, also known as a car service plan or auto protection plan, can alleviate the risk of a high repair bill. Typically, a warranty company will pay for repairs at the dealer or any repair shop you choose. Some companies also offer added perks like roadside assistance, rental car reimbursement, and towing services.
When choosing a warranty provider, read reviews online and speak with friends to see which companies they recommend. Look for positive customer experiences, a clear explanation of coverage and exclusions, and a friendly and efficient sales process.
The best car extended warranties provide comprehensive coverage and extra perks. They cover everything from the powertrain to the air conditioning. Some companies even cover parts that aren’t covered by the manufacturer’s warranty, including the brake pads and windshield wipers. WalletHub’s ranking criteria takes into account cost, consumer ratings, BBB complaints, and customer service to select the top 10 best companies. To find the right extended warranty for you, compare options from multiple providers by requesting quotes.
