Every motorist needs to make sure that they have protection in place in the form of warranties. A warranty provides financial protection in the event of an electrical or mechanical breakdown and could save you a fortune, but like all forms of insurance not all policies are the same so you will need to do your research.
Types of Warranty
Typically, the manufacturer warranty which comes with a brand new car will last for 3 years or 60,000 miles although this can change with the manufacturer. Once this expires, you do not legally have to have a warranty in place but it is a smart idea to arrange an extended warranty from a third-party or dealer so that you have protection because a breakdown can occur at any moment in a car’s lifetime.
Terms & Conditions
It is vital that you read the terms and conditions of any extended warranty. So that you know exactly what is covered and what is not covered – you do not want a nasty surprise of finding out that there is an exclusion which will cost you when you did not expect it. There are around 5,000 working parts in a modern automobile. But you might find that a warranty only covers a few hundred which will not be good value for money.
What is Covered?
The whole car is covered by a warranty but there will be different warranties that cover different parts, such as the paintwork. Typically, a warranty will not cover consumable “wear and tear” items. Such as tyres, windscreen wipers, brakes and clutches although. They consider if they have worn out prematurely due to a mechanical fault. Coverage is for electrical or mechanical breakdowns and this covers a huge amount. Particularly with modern-day vehicles having so many electrical parts which can cost a fortune to repair.
If you decide to opt for a third-party warranty, it is vital that you shop around because these can have more exclusions than a manufacturer or dealer warranty – some will only cover engine and gearbox issues, for example. If you are willing to shop around, you can find excellent third-party warranties from places like Warrantywise. You can usually find the best deals at places like this and with fewer exclusions along with a range of helpful extras. This might include roadside assistance and recovery, replacement vehicle hire, onward travel and European cover.
You will also find that many warranties won’t pay more than their network labour rate. Which will mean that it is down to you to arrange your own repairs. This is why you should always go with a provider that allows you to choose the Labour rate. So that you have a range of choices at an affordable price.
Having a warranty in place could save you a fortune in the event of an electrical or mechanical breakdown. But you need to understand what is coverage and why you need to read the rules. Shopping around is important to find the best warranties which have fewer exclusions, helpful extras and the best customer service.