Insurance Update

Buying a new or used car can be a stressful process and thinking about the warranty is often difficult. With so many different options, it can be difficult to choose the correct warranty for you. Knowing some basic tips for car warranties can help you save money on repairs and on the warranty itself.

Extended Warranties

Extended car warranties will cover your car for several years, like an insurance policy, but it is important to look at the fine print before buying one. Look at the warranty and determine what it actually covers for repair.

If you know a specific car model has a certain problem make sure it is covered by the warranty. Look at where the warranty will be honored. Some warranties will only be recognized by authorized service technicians.

Make sure there is a repair shop in your area that will be able to do the repairs under the warranty. Find out if there are any benefits included in the warranty such as roadside breakdown pickup and car rental discounts.Manufacturer’s Warranty

A manufacturer’s warranty provides a “bumper to bumper” service for the owner of the vehicle free of charge. This is often included when a new vehicle is purchased.

A bumper to bumper warranty covers all parts of the car not considered consumables such as tires, brakes, windshield wipers and light bulbs. Some manufacturer warranties are called power-train warranties and only cover parts of the car that propel the vehicle i.e. the engine.

Look over the manufacturer’s warranty before purchasing the car to ensure it meets your needs.

Prices and Deductibles

Compare prices between different warranty options, but be aware that cheaper is not always the better deal. Low price warranties often leave out major repairs.

Weigh the cost of potential engine repairs in your head before turning down a more expensive warranty as the repair itself may cost you more in the long run.

Look at the deductible on the warranty. Some deductibles cover all repairs and maintenance for the car while other, smaller deductibles, only cover larger repairs cost and are a smaller deductible. Make sure the deductible covers your needs.

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