Extended car warranties aren’t insurance – they’re services. Extended car warranties are protection against mechanical breakdowns which aren’t caused due to the driver. Since these products are so unregulated, it is important to do some research, opt for good, reputable companies with stellar service records. Here are some of the best extended car warranties with benefits to go in for in 2020:
Working best for high-mileage vehicles is CARCHEX, which offers coverage to any vehicle less than 27 years old and having been driven less than 250,000. Drivers with high-mileage vehicles value extended car warranties the most due to the risk of costly repairs due to breakdowns, making CARCHEX a great option. Many companies will not accept cars with so many miles, the average mileage limit being around 172,000 miles, with most of them limiting mileage to less than 75,000 miles. CARCHEX provides options for 18 contracts with excellent and affordable quotes. The only drawback could be the fact that its contracts are very long.
The best direct provider of extended car warranties on this list, Endurance administers the contracts it sells. So, essentially, when one files a claim, they deal directly with Endurance rather than a third party and get the same customer service they received when they bought the contract. Not being jostled between companies for claims gives car buyers peace of mind. Endurance also has a great trip interruption reimbursement policy and an excellent quote process. However, it is also more expensive than the others due to them bearing higher financial risk than brokers, thus translating to fewer, shorter contracts (just four) and stricter limitations on eligibility of cars for coverage. The drawbacks are that the contracts aren’t easy to read, the wait for coverage is two months, and the reimbursement policies for rental cars is just $30/day.
CarShield has the greatest number of coverage options—a whopping 37 contracts—with an upper limit of 300,000 miles. CarShield features five powertrain coverage options for high-mileage vehicles, so its entire spectrum of coverage options is unmatched, as well as five exclusionary plans offering numerous options for bumper-to-bumper coverage. What’s more, it’s one of the few services which sells motorcycle coverage, and its contracts are short and easy to read. That being said, its quotes aren’t the most affordable and one needs to talk to a salesperson before they receive a quote. There are many benefits to having an extended car warranty.
With an excellent quoting process, extremely affordable contracts, and a whopping 21 contracts for cars up to 200,000 miles to choose from, autopom! is one of the best extended car warranties in the market. autopom! quotes an average of $0.01/mile in a quoting process that is extremely swift. Apart from a link to purchase the contract in the mail, there’s also access to customer support. What’s more, the contracts score high for readability and length. The reimbursement policies, however, are less than average, with just $225 for trip interruption (hotel booking + food when car breaks down on the road) and reimbursement of only $35/day for rental cars.
5. AA Auto Protection
With AA, one gets the benefit for the best lowest down payment, apart from getting five levels of coverage across a host of 17 contracts to choose from. That being said, the quotes are on the expensive side and it has among the lowest mileage restrictions. What’s more, the contracts are long and not easy to read.