Car Warranties St Petersburg FL
When shopping for vehicle protection, it's best to look for reputable extended car warranty companies. You don't want to be working with a company that has bad business practices or a poor customer service track record.
Our review team has evaluated several providers to identify the most reliable extended warranty companies, all of which also were highly rated in our most comprehensive extended warranty for 2022 review (see methodology below). We'll discuss each provider in detail, focusing on the business practices of each and their reputation. We'll also discuss what constitutes a reputable company and how to choose the best one to meet your requirements.
What is the criteria that make an extended warranty company trustworthy?
Any reputable and worthwhile extended warranty providers in 2022 must check the following boxes
Strong industry reputation
We look to our sources of information, the Better Business Bureau (BBB) and AM Best when considering a company's industry standing. The BBB evaluates companies based for their ability to respond to and settle customer issues. If a provider holds a high BBB rating, there's a good chance it effectively communicates with contract holders on a timely basis.
Some companies work with vehicle service contract underwriters to ensure claims payouts. To determine the strength of these underwriters' financial ratings, we look to AM Best, which rates a business's financial ability to pay for claims and manage risks.
Certain extended warranty companies, like Carchex, are also endorsed by industry-leading companies. The presence of prominent partnerships is a mark of a reliable service.
Customer satisfaction ratings are high.
The BBB, Google and Trustpilot all offer customer reviews for extended warranty businesses. We recommend using multiple review sites when deciding on the best service. It's not uncommon to have low scores for customer reviews on the BBB, as customers looking to settle their complaints are more likely to write reviews on this platform.
Positive reviews from customers are a great way to gauge how you'll be treated by the extended warranty company. Check for reviews that mention a quick claims process and helpful customer service representatives. Also, beware of companies which have customers who complain about poor habits, like fraudulent calls and false advertising.
Transparent business practices
Many reputable extended car warranty companies provide the opportunity to view sample contracts on the internet so that customers can read coverage details before signing the dotted line. One of the most frequent issues for contract holders is denials of claims.
If you choose a service which is able to provide information on its contracts and contracts, you'll be better prepared to know what's not covered. However, you should always be sure to read the fine print regardless of which provider you select.
Long-running history of the company
Through our extensive investigation, we've found that the top, most trustworthy firms have been operating for more than years. The market for warranty services is competitive, making it very easy for companies to move and go, particularly in the event of negative customer reviews and shady business practices.
Easy to use
It's also important to find an insurance plan that is user-friendly. Does it reimburse directly to the repair facility? Do you have additional benefits such as assistance for roadside repairs and rental vehicle reimbursement? Is there a 30-day money-back guarantee to use if you are not satisfied? Each of our suggestions offers these advantages.
A reputable extended warranty for cars. company
When we were determining the five most reputable extended car warranty firms available We looked at the factors previously mentioned, along with cost and coverage options. After we researched auto warranty companies across the world, Endurance, Carchex, Protect My Car, CarShield and autopom! topped our list for reputability
#1 Protect My Car: Most Maintenance Plans
Accessibility in all states, with the exception of Alaska, California, Hawaii, Missouri, Oklahoma and Washington Maximum mileage limit: 125,000 miles
Extra benefits Help with roadside issues rental car reimbursement trip interruption
Protect My Car holds some of the top customer review ratings that any other extended warranty service. It has an A+ rating from the BBB along with an 4.5-star customer review score at the time of the publication. Customers reviewed the company on Trustpilot to rate an average rating of 4.5 ratings with more than 2300 reviews.
Protect My Car's employees are accredited through the Association of Certified Vehicle Protection Professionals (ACVPP). The certification is based upon ethical practices in business, consumer protections, and the Magnuson-Moss Warranty Act and more. In accordance with the Federal Trade Commission the Magnuson-Moss Warranty Act "requires warranty providers of consumer products in order to give consumers specific details about the warranties."
The customers of Protect My Car often have positive reviews about the service team and the simplicity of the claim process.
Protect My Car extended warranty plans
Protect My Car offers three options for coverage, and they can extend up to 10 years/125,000 miles. These include:
|
"Protect My Car Plan |
What it covers |
|
Supreme |
Similar coverage to the original factory warranty on the vehicle. |
|
Select |
The best choice for vehicles that have more than 50k miles. It also provides coverage a step below the Supreme plan. |
|
Driveline |
Protection of the powertrain for vehicles that are between 4 to 10 years old and with more than 80,000 miles |
Protect My Car also has five prepaid maintenance programs called Ambassador Maintenance Plans. The Ambassador Maintenance Plan is a blend of car repairs and regular maintenance.
Cost of an extended car warranty
An extended car warranty costs between $1,500 and $3,500. According to our consumer survey approximately 67% of those who responded have paid between $1500 and $2,500 to get an extended warranty. Extended warranty costs depend on the vehicle you own, so comparison of quotes can help you to determine the most affordable price.
Does an extended warranty really make it?
Extended warranties are beneficial for many car owners, but it's important to take into account your situation when shopping for an agreement. If you own a reliable car or plan to sell your car prior to when the manufacturer's warranty expires, a vehicle protection plan might cost more than the price. This is also true for those who have savings put aside for auto repairs.
But, you must think about adding coverage if you are in one of the following situations: you:
You'd like peace of mind
Vehicle repairs can be costly to pay for out of the pocket. When the manufacturer's warranty expires, you're financially responsible for any electrical or mechanical breakdowns. Extended warranties pay for covered repairs, easing the anxiety about future problems.
You want a predictable auto budget
If you pay for a car service contract upfront, through a monthly payment plan, or as part of the financing of your vehicle and insurance, you're not responsible for unexpected repair costs in the event of an unexpected mechanical breakdown.
You plan on owning your vehicle for a lengthy period of time
According to research by IHS Markit, the average age of operable light vehicles across the U.S. was 12.1 years by 2021. Because the majority of manufacturers' bumper-to-bumper warranties expire within 4 years/50,000 miles, you could be driving unprotected for more than half its life span.
You should also consider the repair costs of your car. The higher the amount you are likely to be charged for repairs the more likely you are to benefit from extended warranty coverage. Here are some average annual repair costs for the most popular automakers, as per RepairPal:
|
Car Brand |
Average Annual Repair Cost |
|
Honda |
|
|
Acura |
|
|
Lexus |
|
|
Subaru |
|
|
Ford |
|
|
BMW |
|
|
Land Rover |
What do consumers say?
Our team surveyed 1,000 people who had been searching for an extended car warranty plan. Of this sample, about 75% had purchased extended warranties from dealerships and 44% purchased an extended warranty through a third-party.
Survey respondents said pricing was the primary aspect, followed by the timeframe of the warranty as well as the extent of coverage. Overall 64% of respondents were happy about their warranties extended, and 13% said they were neither satisfied nor dissatisfied.
On the contrary, 13% said they were unhappy regarding the warranties. A few said that the warranty did not cover repairs that were expected and others thought the company tried to get out of the cost of repairs.
Do you think about an extended warranty offered by the dealer?
In addition to reputable extended car warranty providers Drivers can also purchase insurance from their vehicle manufacturers. Because these agreements are typically backed by automakers themselves, they may lessen buyers' concerns about reliability.
The contracts of manufacturers guarantee certified technicians trained by factory and the use of genuine parts to repair. However, they also come with a few limitations that include:
Limited repair shop choice
Many manufacturers require that their drivers visit the dealership or a repair center that is branded for service. While this may not appear like a big deal however, certain automakers have comparatively small dealerships throughout the nation. For instance there are just over 100 MINI dealerships across the U.S.
Expensive vehicle service contracts
You could face dealer markups in addition to the cost of your contract if buy a manufacturer-backed insurance.
Fewer options for coverage
Typically, manufacturers offer a few insurance plans for vehicles. Depending on your needs it is possible to purchase too little coverage or purchase coverage that isn't needed.
What should you know prior to purchasing a third-party extended warranty
With a third-party warranty, an outside company other than your vehicle's manufacturer covers certain repairs. The primary benefit is that it's usually cheaper than an extended warranty from the manufacturer.
A third-party plan might or might not cover the original equipment manufacturer (OEM) replacement parts. If you go to a dealer and get OEM parts, you could need to pay for a part of the repair cost depending on the terms of your contract.
The most reputable extended car warranty companies will pay the repair shop directly, so all you pay for is your deductible. Some less reliable providers may have you make payments upfront and then submit receipts to be reimbursed So beware of the ones that do.
Review the contract thoroughly before buying the plan. Look for specifications on:
Labor rate coverage limits
What is the definition of mechanical failure?
Maximum payout per contract
OEM Parts Coverage
Waiting periods or inspections required prior to coverage
Required maintenance documentation
Emergency repair procedures
Cancellations and contract transfers
Additionally every extended warranty contract come with exclusions. They can cover specific components like cosmetics or emissions components, and maintenance items such as brake pads and oil changes. Be aware of what's not covered to avoid disappointment down the road. One of the biggest complaints about extended warranties is repairs not being covered.
Sometimes, companies don't guarantee a legitimate repair. In many instances, the contract clearly excludes the repair. Check the fine details, and don't depend on a salesperson to explain every exclusion to you.
Can you buy an extended warranty following the purchase of an automobile?
Certain dealerships permit the purchase of an extended warranty before your warranty runs out, but other dealerships require you to purchase it when you purchase a new vehicle. But, nearly all third-party suppliers offer plans for used vehicles that are out of the factory warranty period.
How to stop an extended warranty from an automobile
If you wish to end an extended warranty you must to notify the contract administrator, and then submit an official cancellation request in writing. It is also possible to provide a notarized odometer declaration. Most reputable extended warranty companies provide 30-day money-back guarantee and prorated refunds after that.
How do you find the best warranty provider for you
When you're considering extended car warranty providers, it is best to compare rates. So, you can be sure to find the perfect coverage plan that is to your needs and budget.