Car Warranty St Petersburg FL
If you are looking for protection for your vehicle you should look for reputable extended warranty companies. You shouldn't be working with a company that has poor business practices or a unsatisfactory service to customers.
Our review team has compared several providers to identify the most reputable extended car warranty companies, all of which also ranked highly in our best extended car warranty 2022 review (see methodology below). We'll examine each company in detail, with a focus on their business practices and reputation. We'll also discuss what constitutes a reputable company and how to pick the best one to meet your requirements.
What is the criteria that make an extended warranty company reputable?
Any trustworthy and reliable extended car warranty companies in 2022 ought to check the following boxes
Strong industry reputation
We turn to the Better Business Bureau (BBB) and AM Best when considering a business's reputation in the market. The BBB grades companies on their ability to react to and settle customer issues. If a provider holds a high BBB rating it's likely that it effectively communicates with contract holders promptly.
Some companies work with underwriters of vehicle service contracts to guarantee payouts for claims. To determine these underwriters' financial strength ratings, we look to AM Best, which rates an organization's ability to pay claims and to manage risk.
Some extended warranty providers such as Carchex are also supported by industry-leading companies. The presence of prominent partnerships is a mark of a reliable service.
Excellent customer satisfaction ratings
It is important to note that the BBB, Google and Trustpilot all offer customer reviews for extended warranty firms. We recommend using multiple review sites when deciding on the best provider. It's not uncommon to see poor reviews from customers on the BBB since customers who are looking to resolve their issues tend to leave reviews on this site.
Positive reviews from customers are an important way to gauge how you'll be treated by an extended warranty company. Look for companies with reviews that highlight a speedy claim process and friendly customer service representatives. Also, beware of companies that customers say practice poor practices, such as fraudulent calls and false advertising.
Transparent business practices
Many reputable extended car warranty companies offer the opportunity to view sample contracts on the internet so that customers can review the coverage details before signing the dotted line. A common issue for contract holders is denials of claims.
By choosing a provider which is able to provide information on its agreements, 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 company you choose.
Long-running history of the company
In our investigation, we've found that the top, most trustworthy providers have been in business for more than a few years. The warranty industry is highly competitive, which makes it simple for businesses to change their minds and go, especially in the event of negative customer reviews or unsavory business practices.
Ease of use
It is also essential to locate the right service plan that's simple to use. Does it reimburse the repair center directly? Do you have additional benefits such as roadside assistance and rental car reimbursement? Is there a 30-day money-back guarantee to use if you decide to change your mind? Each of our suggestions offers these advantages.
Top reputable extended car warranty company
In determining the top five trustworthy extended car warranty providers available We looked at the factors above, as well as cost and choices for coverage. After we researched auto warranty companies across the market, Endurance, Carchex, Protect My Car, CarShield and autopom! was the top choice for reliability
#1 Guard My Car: The Most Maintenance Plans
Accessibility in all states, with the exception of Alaska, California, Hawaii, Missouri, Oklahoma and Washington The maximum mileage limit 125,000 miles
Additional benefits Help with roadside issues rental car reimbursement, trip interruption trip interruption
Protect My Car holds some of the highest customer review ratings of any extended warranty company. The company has an A+ rating with the BBB as well as an 4.5-star customer review score at the time of its publication. Customers have weighed in on Trustpilot to rate it an average score of 4.5 ratings with more than 2,300 reviews.
Protect My Car's employees have been accredited by the Association of Certified Vehicle Protection Professionals (ACVPP). The certification is based on ethical business practices and consumer protections, as well as 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 for consumers to offer detailed information regarding warranty coverage."
The customers of Protect My Car often report positive experiences with 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 could last for up to 10 years/125,000 miles. These include:
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Protect My Car Plan |
What It Covers |
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Supreme |
Similar coverage to the original factory warranty of the vehicle. |
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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 |
Powertrain protection for vehicles between 4 to 10 years old and with more than 100,000 miles |
Protect My Car also has five maintenance programs that are prepaid and referred to as Ambassador Maintenance Plans. The Ambassador Maintenance Plan includes a mix of repairs to cars and regular maintenance.
Cost of an extended warranty on a car
In the average, an extended warranty for a car costs between $1500 and $3500. According to our consumer survey that found 67% of people paid between $1,500 and $2,500 to get an extended insurance. Extended warranty costs depend on the vehicle you own, so the comparison of quotes will help you to determine the most affordable price.
Is an extended warranty worth it?
Extended warranties can be worthwhile for many car owners, but it's important to take into account your situation when shopping for an agreement. If you have a reliable car or plan to sell your car prior to when the factory warranty expires, a vehicle protection plan may not be worth the expense. This is also true for those who have savings set aside for auto repairs.
However, you should think about adding coverage if the following scenarios apply to you:
You're looking for peace of mind
Vehicle repairs can be costly to cover out of the pocket. After the expiration of your manufacturer's warranty, you're financially responsible for any electrical or mechanical breakdowns. Extended warranties foot the bill for repairs that are covered, which eases the anxiety about future problems.
You want a predictable auto budget
When you purchase a service contract in advance or through a monthly payment program, or even as a part of the financing of your vehicle it is safe from having to pay for unexpected repair costs following an unexpected mechanical malfunction.
You're planning to have your vehicle for a long time
According to research conducted by IHS Markit, the average age of light vehicles that are operable in the U.S. was 12.1 years in 2021. Because the majority of manufacturers' bumper-to-bumper warranties end after 4 years or 50,000 miles it is possible to drive unprotected for more than the half-life of your vehicle.
It is important to think about the cost of repairs to your vehicle. The more you anticipate to be charged for repairs the more likely you are to get extended warranty coverage. Here are some average annual repair costs for the most popular automakers, based on 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 do consumers say?
Our team surveyed 1,000 people who have had the experience of purchasing or looking for an extended vehicle warranty plan. In this sample, around 75% of them had purchased a dealership extended warranty 44% bought an extended warranty from a third party.
Survey respondents said pricing was the primary factor, followed by the length of the warranty and the extent of coverage. Overall 64% of respondents were happy by their warranty, and 13% said they were neither satisfied nor dissatisfied.
On the contrary 13% of respondents said they were dissatisfied regarding the warranties. Some said the vehicle warranty didn't cover anticipated repairs, while others said they were concerned that the company tried to get out of the cost of repairs.
Should you consider an extended warranty from the dealer?
Alongside reputable extended warranty companies customers can also buy coverage from their vehicle manufacturers. Because these warranties are generally backed by automakers themselves, they could lessen the buyer's anxiety regarding reliability.
Manufacturer contracts guarantee certified technicians trained by factory and the use of original parts to repair. However, they come with a few limitations that include:
Limited repair shop choice
Many manufacturers require that their drivers visit the dealership or a branded repair center for repair. Although this might not sound to be a huge deal however, certain automakers have comparatively few dealerships nationwide. For example, there are just over 100 MINI dealerships in the entire U.S.
Service contracts for vehicles that are expensive
You may face dealership markups on top of the cost of your contract if purchase manufacturer-backed protection.
A broader range of options of coverage
Typically, manufacturers offer one to three vehicle protection plans. In accordance with your needs it is possible to purchase too little coverage or pay for unneeded coverage.
Things to consider prior to buying an extended warranty from a third-party
Through a third-party guarantee, a different company than the manufacturer can cover repairs. The major benefit is that it's usually cheaper than a manufacturer's extended warranty.
However, a third-party plan could or won't cover OEM (OEM) repair parts. If you go to a dealer and get OEM replacement parts, you could be required to pay a percentage of the repair costs based on the terms of your contract.
The most reliable extended car warranty providers will reimburse repair shops directly, which means the only thing you need to pay is your deductible. Certain less reputable companies will require you to pay for repairs up front and then submit receipts to be reimbursed, so watch out for these companies.
Review the contract thoroughly before buying the plan. Check for specifics on:
Limits on the coverage of labor rates
What exactly is mechanical failure?
Maximum payout per contract
OEM Parts Coverage
Periods of waiting or inspections are necessary prior to coverage
Required maintenance documentation
Emergency repair procedures
Cancellations and contract transfer
In addition, all extended warranty contracts come with exclusions. These can include specific parts like cosmetics or emission components, as well as maintenance items like brake pads or oil changes. Know what's not covered in order to avoid disappointment down the road. One of the top complaints regarding extended warranties is the fact that repairs aren't being covered.
Sometimes, a company doesn't provide a repair that is valid. In many instances, the contract clearly excludes the repair in question. Check the fine text, and don't rely on salespeople to explain every exclusion to you.
Do you have the option of purchasing an extended warranty after purchasing the vehicle?
Certain dealerships permit you to add an extended warranty before your warranty ends, whereas other dealerships require you to purchase it when you purchase a brand new vehicle. However, most third-party providers sell plans for used vehicles that are not covered by the warranty period of the manufacturer.
How to cancel an extended warranty on the car
To end an extended warranty you will need to contact the contract administrator and send a written cancellation request. You might also have to present a notarized statement. Most reputable extended warranty companies provide 30-day money-back guarantee and prorated refunds beyond that point.
How do you find the best warranty company for you
If you are considering extended warranty for your car providers, it is best to compare estimates. So, you can make sure you get the best coverage plan that fits with your financial budget.