Types of auto warranties and top brands offering them

Types of auto warranties and top brands offering them

Auto warranties cover the repairs to essential parts and components of your car within an agreed-upon timeframe or a fixed number of miles driven. Getting an auto warranty is a sound decision to protect your investment and avoid costly repairs in the long run. For long-term vehicle owners, extended warranties are the best option to consider.

Not only do you save thousands on unexpected repair and replacement costs but get peace of mind knowing that you will be covered if anything happens after the manufacturer’s warranty ends.

Types of auto warranties
There are two main types of auto warranties: the manufacturer’s warranty and the extended warranty. A manufacturer’s warranty is the warranty that comes as part of the purchase price of a new car. The warranty lengths vary greatly based on your car’s brand, make, model, and year. The most common types of auto warranties offered by manufacturers are

Powertrain warranty
This type of warranty covers the most expensive components of your car. These components are the parts that make the car run and include the engine, drivetrain, and transmission. The warranty usually lasts for five years or 60000 miles.

Bumper-to bumper warranty
This type of warranty covers a comprehensive range of car parts. Routine maintenance and wear-and-tear parts are usually not included. This type of warranty often lasts for three years or 36000 miles.

Corrosion warranty
Corrosion warranty protects against rust and protects parts of the car that are prone to corrosion or rust damage.

Emissions warranty
Manufacturers are legally required to provide emissions coverage for at least two years or 24000 miles. If the car fails an emission inspection, the manufacturer will take care of the needed repairs.

Extended warranty
For vehicle maintenance, it is a good idea to consider an extended warranty that covers mechanical breakdowns after the manufacturer’s warranty ends. You can get an extended warranty for a new car, certified pre-owned vehicles, and regular used vehicles.

Various manufacturers, dealerships, or third-party providers offer extended warranties. However, it is best to buy third-party vehicle protection plans as they provide you more freedom in choosing your plans and the places you can avail of the service.

Here are the three top companies offering auto warranties.

Endurance
Endurance vehicle service contracts are suitable for older and high-mileage cars as it covers cars even up to 20 years of age and with 200,000 miles on the odometer. There are two car warranty series to choose from: Elite and Advantage. The Elite series further offers five coverage options but does not cover vehicle maintenance costs. The Advantage series includes one year of free Elite benefits plus yearly maintenance and has three coverage options. The Advantage series also includes one-time services such as cooling system maintenance, battery and brake pads replacement, and more. All of these plans also come with rental car reimbursement, roadside assistance, and trip interruption coverage. A 30-day refund guarantee is an added advantage if you are not happy with the plan.

Carchex
Carchex offers a wide range of coverage tailored to suit almost all needs and budgets. Their five protection plan tiers have a total of 25 coverage levels providing the best aftermarket care for your automobiles. Additionally, all of these plans also include the Care plan with benefits such as 24/7 roadside assistance, courtesy towing, rental car coverage, gas delivery, and trip interruption coverage. In case, you change your mind Carchex has a 30- day return policy in place. Multiple add-on options with each plan are also available.

CarShield
CarShield is ranked among the top 3 companies offering the best auto warranties. The vehicle protection service plans can cover up to 300,000 miles making this a good option for older cars. The company has six warranty options ranging from basic powertrain to comprehensive exclusionary coverage. CarShield also provides specialty coverage for motorcycles and all-terrain vehicles (ATVs). The company backs each of its vehicle service contracts with benefits such as monthly payment plans, transferable contracts, a 30-day return policy, free towing, and rental car reimbursement.