Car insurance companies sell car warranty insurance policies for used cars that restore confidence among car owners who are paid for repairs of the car just as the manufacturer’s warranty would have covered. It can also be applicable for new car owners who have ran out of the span of manufacturer’s warranty. It is better to have the car covered by warranty rather than leaving it uncovered unless you have enough resources to pay for repair bills that can run into several hundred GBP. Repairs can be expensive and having extended warranty takes care of these expenses that can be the cause of pain if you are not prepared for it. But, to take it or not is the million dollar question when it comes to car warranty insurance.
To take it or not
Thinking in simply terms of protecting your investment would make it easy to decide whether you should take a car warranty insurance or not. Car Insurance experts – Click4warranty noted that if you have spent a decent some in acquiring your car that was void of warranty, in the interest of protecting your investment it is only natural to get it covered by warranty insurance. But if you are able to forget easily what you have invested and have least expectations about its returns then it is better to turn the other way and stay away from spending on car warranty insurance.
The other question is what are the chances of things going wrong for the car that you have? There is no definite answer to this as a lot would depend on the lineage of the car that you have procured and the residual life of the working parts. To ascertain the vulnerability of your car parts you can take help from some online guide that indicates the probability of failure of parts.
Gathering all the information, you have to work out the arithmetic between what you pay and what you might get so as to take the most logical decision. But if you get a cover make sure that it is the right one for you.
Getting the right one
There are different options for coverage offered by different companies and you should pay attention to the fine print that elaborates the terms and conditions which are crucial to understand exactly what and how much the payout is likely to be. Here are the points to be checked.
- Is the payment going to be made to the garage where you get the repair done or will it be reimbursed to you?
- Can the repair be done at any place of my choice or is there any specified place to go?
- What are the deductibles?
- The components that are covered by the warranty have to be clearly mentioned along with the exceptions.
- Is there provision for payment of towing charges and is there any coverage for rental car during the period of break down?
How much ready you are to meet the expenses for repair influences your decision in purchasing car warranty insurance.