Auto Warranties St Petersburg FL
When you're looking for protection for your car, it's best to look for reputable extended vehicle warranty companies. You don't want to be working with a company that has poor business practices or poor customer service track record.
Our review team has compared dozens of providers to find the most trustworthy extended car warranty companies that all scored highly in our top extended warranty for 2022 review (see methodology below). We'll examine each company in detail, with a focus on the business practices of each and their reputation. We'll also discuss what makes a company reputable and how to choose the right provider for your needs.
What is the criteria that make an extended warranty company trustworthy?
Any trustworthy and reliable extended warranty providers in 2022 ought to check the following boxes
Strong industry reputation
We consider our sources of information, the Better Business Bureau (BBB) and AM Best when considering a company's industry standing. The BBB assesses businesses based on their ability to react to and resolve customer concerns. If a business has a high BBB rating There's a high chance it is able to communicate with contract holders promptly.
Some providers work with underwriters of vehicle service contracts to guarantee payouts for claims. To determine the strength of these underwriters' financial ratings, we use AM Best, which rates the financial capacity of a company to pay for claims and manage risks.
Certain extended warranty providers such as Carchex, are also endorsed by leading companies in the industry. Prominent partnerships are a sign of a trustworthy provider.
High customer satisfaction ratings
It is important to note that the BBB, Google and Trustpilot all have customer reviews for extended warranty companies. We recommend using several review sites when deciding on the right company. It's not uncommon to see low customer review scores on the BBB because customers trying to resolve complaints tend to leave reviews on this site.
Positive reviews from customers can be a good method to determine the quality of service provided by the extended warranty company. Look for companies with reviews that speak of a swift claims process , and friendly service reps. Also, beware of companies that customers say practice poor ways of doing business, including fraudulent calls and false advertising.
Transparent business practices
Many reputable extended car warranty companies have sample contracts online so customers can review the coverage details before signing the contract. The most common complaint for contract holders is denials of claims.
If you choose a service which is able to provide information on its contracts, you'll be better equipped to understand what is and isn't covered. But, it is important to read the fine print regardless of the provider you choose.
Long-running history of the company
Through our extensive research, we've found the top, most trustworthy firms have been operating for more than a couple of years. The warranty industry is highly competitive, which makes it simple for businesses to change their minds and go, especially if they have negative customer reviews or unsavory business practices.
User-friendly
It's also important to find the right service plan that's simple to use. Does it pay the repair facility directly? Do you have additional benefits such as roadside assistance and rental car reimbursement? Are there a 30-day refund guarantee if you decide to change your mind? All of our recommendations offer these benefits.
The most reputable extended car warranty company
In determining the top five reputable extended car warranty companies on the market, we considered the factors mentioned above, in addition to cost and the options for coverage. After analyzing auto warranty companies across the world, Endurance, Carchex, Protect My Car, CarShield and autopom! was the top choice for reliability
#1 Protect My Car: Most Maintenance Plans
Available in all states, with the exception of Alaska, California, Hawaii, Missouri, Oklahoma and Washington The maximum mileage limit 125,000 miles
Extra benefits: Roadside assistance, rental car reimbursement and trip interruption
Protect My Car holds some of the top customer review ratings for any warranty company. It is a BBB A+ score from the BBB along with a 4.5-star rating on customer reviews at the time of the publication. Customers have weighed in on Trustpilot and gave the company an average score of 4.5 ratings with more than 2300 reviews.
Protect My Car's employees have been accredited with the Association of Certified Vehicle Protection Professionals (ACVPP). The certification is based upon ethical practices in business, consumer protections, The Magnuson-Moss Warranty Act and more. According to the Federal Trade Commission the Magnuson-Moss Warranty Act "requires the manufacturers of consumer goods for consumers to offer detailed information about warranty coverage."
Protect My Car's customers often have positive reviews about the customer service team as well as the ease of the claims process.
Protect My Car extended warranty plans
Protect My Car offers three choices of coverage that can extend up to 10 years/125,000 miles. This includes:
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Secure My Car Plan |
What it covers |
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Supreme |
Similar coverage to the vehicle's original factory warranty |
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Select |
The best choice for vehicles that have more than 50k miles. It also provides coverage a step below the Supreme plan. |
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Driveline |
Protection of the powertrain for vehicles that are between four and 10 years old , with more than 80,000 miles |
Protect My Car also has five prepaid maintenance programs called Ambassador Maintenance Plans. An Ambassador Maintenance Plan includes a mix of repairs to cars and regular maintenance.
Average cost of an extended warranty on a car
In the average, an extended car warranty costs between $1,500 and $3,500. According to our consumer survey, about 67% of those who responded paid between $1,500 and $2,500 for the extended guarantee. Extended auto warranty prices are determined by the model of your car and comparison of quotes can help you to find the best price.
Is an extended warranty worth it?
Extended warranties can be worthwhile for all car owners, but it is important to think about your specific situation when choosing the right contract. If you have a trustworthy vehicle or are planning to sell your vehicle before the factory warranty expires, then a protection plan may not be worth the price. The same is true for those who have savings set aside for auto repairs.
But, you may want to take into consideration additional insurance if any of the following situations apply to you:
You're looking for peace of mind
Vehicle repairs can be costly to pay out of the pocket. After the expiration of your manufacturer's warranty the financial responsibility is yours for any mechanical or electrical malfunctions. Extended warranties pay for repairs covered, alleviating anxiety over future issues.
You want a predictable auto budget
By paying for a vehicle service contract up front or through a monthly payment arrangement, or a part of the financing for your vehicle, you're protected against paying for a surprise repair bill in the event of an unexpected mechanical breakdown.
You plan on owning your car for a long period of time
According to research conducted by the IHS Markit IHS Markit, the median age of a light vehicle that is operable in the U.S. was 12.1 years in 2021. Since the majority of bumper-to bumper warranties end after 4 years or 50,000 miles it is possible to drive unprotected vehicles for more than the half-life of your vehicle.
You should also consider your vehicle's repair costs. The more you can expect to be charged for repairs the more likely you will be to be able to take advantage of extended warranty coverage. Here are some average annual repair expenses for top automakers, as per RepairPal:
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Car Brand |
Average Annual Repair Cost |
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Honda |
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Acura |
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Lexus |
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Subaru |
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Ford |
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BMW |
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Land Rover |
What are the opinions of consumers?
Our team conducted a survey of 1,000 customers who have had the experience of purchasing or looking for an extended vehicle warranty plan. Of this sample, about 75% had bought an extended warranty from a dealership 44% purchased a third-party extended warranty.
Survey respondents said pricing was the most important aspect, followed by the timeframe of the warranty as well as levels of coverage. Overall 64% of respondents were happy with their extended warranty, and 13% stated they were neither satisfied nor dissatisfied.
On the contrary 13% said that they were dissatisfied about the guarantee. Some said the vehicle warranty did not cover repairs that were expected Some were concerned that the company tried to get out of the cost of repairs.
Do you think about an extended warranty with the dealer?
In addition to reputable extended warranty companies customers can also buy coverage from the manufacturer of their vehicle. Because these warranties are generally supported by the automakers themselves, they can reduce buyer anxiety about reputability.
Manufacturer contracts guarantee trained technicians from factories and the use of genuine parts to repair. However, they also contain a number of limitations, including:
Limited repair shop choice
Most manufacturers require drivers to visit the dealership or a repair center that is branded to get service. Although this might not sound to be a huge deal, some automakers have relatively few dealerships nationwide. For instance, there are less than 100 MINI dealerships throughout the U.S.
Service contracts for vehicles that are expensive
There could be markups from dealers in addition to the cost of the contract if you purchase a protection plan that is backed by a manufacturer.
A broader range of coverage options
Typically, manufacturers only provide one to three vehicle protection plans. In accordance with your needs you could buy too little insurance or buy coverage you don't need.
What to know before buying an extended warranty from a third-party
A third-party warranty a different company than the manufacturer covers certain repairs. The major benefit is that it's typically less costly than a manufacturer's extended warranty.
However, a third-party plan could or won't cover original equipment manufacturer (OEM) replacement parts. If you visit an agent and buy OEM parts, you might need to pay for a part of the repair costs based on the terms of the contract.
The most reliable extended car warranty providers will reimburse the repair shop directly, and all you pay for is your deductible. Some less reliable providers may have you make payments upfront and then submit receipts to be reimbursed Beware of the ones that do.
Go through the contract carefully before buying the plan. Look for specifications on:
Labor rate coverage limits
What is the definition of mechanical failure?
Maximum amount of money that can be paid per contract
OEM parts coverage
Periods of waiting or inspections are necessary before coverage
Documentation for maintenance that is required
Emergency repair procedures
Cancellations and contract transfer
Finally every extended warranty contract have exclusions. They can cover specific components, such as cosmetic items or components for emissions, or maintenance items such as brake pads and oil changes. Understand what isn't covered to ensure you don't get disappointed later on. One of the top complaints about extended warranties is the fact that repairs aren't being covered.
Sometimes, a company doesn't cover a valid repair. In many instances the contract specifically excludes the repair. Read all the fine text, and don't rely on a salesperson to read every clause to you.
Can you buy an extended warranty when you purchase a vehicle?
Certain dealerships permit customers to purchase an extended warranty before the factory warranty expires, while others require that you purchase it at the time you purchase a brand new vehicle. However, most third-party providers sell plans for cars that are out of the warranty period of the manufacturer.
How can I stop an extended warranty from an automobile
If you wish to end an extended warranty you need contact the contract administrator and send an official cancellation request in writing. It is also possible to submit a notarized odometer statement. Reputable extended warranty providers offer 30-day money-back guarantees and the prorated amount of refunds that are available after that.
How do you find the best warranty provider
When you're considering extended car warranty providers, you should check out estimates. So, you can be sure to find the perfect coverage plan that fits within your budget.