The cost of maintaining an automobile can be extreme, running into the thousands for some repairs. An extended car warranty will give you peace of mind. With the coverage, when an expensive car repair is needed, you will be able to pay for it via your paid insurance claim. Palmer Administrative Services is an extended warranty company with 30 years of experience.
Reasons to Buy an Extended Warranty
An extended warranty serves one main purpose. It pays for major repairs one month after purchasing it. And, it provides peace of mind if you do not have huge savings waiting to be spent on unexpected car repairs. The fact that you will be asked to use a certified mechanic to perform the covered repairs is another benefit of using an extended warranty. If you had to pay out of pocket, you might have selected the least expensive mechanic to perform the repairs. This may or may not prove to have been a wise decision.
Your policy may offer some additional benefits that could make the policy more attractive to you.
- Substitute Transportation is provided when your car is in the shop.
- Trip Interruption costs are provided to allow for extra charges for hotels, food, etc.
- Roadside Assistance
When Should You Buy an Extended Warranty?
After purchasing your car used or new, you should make a note of how long your factory warranty will last. Also, consider the make of your vehicle, which may dictate the general cost of repairs. If your vehicle was older and had no initial warranty, you may want to buy one if it meets the criteria for coverage. All insurers want to know the general condition of the vehicle, the year and the mileage. Before buying a policy, consider how long you plan to own the vehicle.
If you have a new car, you will have a factory warranty up to several months or years and up to 36,000 miles. Extended warranties require the following:
- The vehicle be less than 7 years old
- The mileage on the vehicle should be less than 150,000 miles on the odometer
- Newly insured cars must wait 30 days or 1,000 miles before the first claim.
- There is a choice of deductibles: $50, $100, $200 for coverage.
Filing a Claim with an Extended Warranty Company
1) Take your vehicle off the road as soon as you realize there is a problem.
2) Take the vehicle to the automotive repair shop. It must be ASE-certified. Some insurers require you to use an in-network repair shop.
3) Give the shop the authority to diagnose the problem.
4) Allow the repair shop the authority to contact the warranty/insurance company to get approval for the claim.
5) Pay the deductible, if there is one and pick your vehicle up.
6) Many warranties are transferrable if you sell your car.
What an Extended Warranty Will Cover
- Drive Axle Assembly
- Business Use/Commercial
- Hybrid / Electric Vehicle Components
- Windshield Repair
- Key Loss or key Damage Protection
- Factory Navigation
- High Tech Electronic Components
- Factory Air Conditioner
- Fuel System
- Engine Cooling System
- Front & Rear Suspension
- Electric Components
What an Extended Warranty will not Cover
- Scheduled maintenance like tune-ups, timing belts, and oil changes
- Wear and tear of the vehicle, such as brake pads and windshield wipers
- Be sure to read the list of exclusions before you buy your policy.
Research the companies that offer extended warranties and examine the policy you select in more precise detail when you receive it in the mail. You will have 10-90 days to examine it without a continued obligation upon its arrival in the mail, depending on the insurer you choose. If you can set-up automatic payments, to ensure you’ll always have coverage when it’s needed.