Auto Extended Warranty Forum
Finding extended auto warranty quotes online
Sometimes a car owner may be reluctant to spend any more money on their car after having purchased it. If you find yourself in this dilemma, consider that you will actually save money against costly car repair bills by purchasing a warranty. You are protecting your investment. Thus, it is advisable to get the factory warranty, and, after that expires, to continue the protection with an extended warranty.
The reason why a car warranty company can honor a claim is because all warranties are fully insured and the administrators keep a reserve amount aside to meet future claims so that they can be paid promptly and fully. This reserve is established by setting aside a certain percentage from all premiums paid to the company. This money is put in a deposit account that's strictly used to service future claims.
The best time to get an extended warranty is when your factory warranty is still in effect. This way when the original warranty expires, the new one will immediately take its place. Of course you can still get an extended warranty after the factory warranty has expired but you may have to first get the car inspected to rule out pre-existing conditions.
A superb way to research the best extended warranty is to use the Internet. This is because most car warranty companies have comprehensive websites that describe all their various service contracts. You will not only be able to get instant quotes from various providers, but you will also be able to review the contracts in detail and make comparisons.
There are many ways to research on the Internet. You can simply type in the most relevant keywords into a search engine like Google or Yahoo, for example, and see what websites come up. You can also read various blogs about car warranties, ask questions in car forums, and even use services like Yahoo Answers to ask others online about the top car warranty companies and the best type of service contracts.
Compared to any other medium or method of research, the Internet will be the fastest way to get multiple quotes and a comprehensive understanding of the differences between warranties.
When looking for quotes online, here are seven guidelines on how to find the best vehicle warranties:
* Decide on what you want in an extended contract based on your needs and the year and condition of your car, then look for an auto warranty that matches those expectations.
* Don't just focus on price, but also look at what value you get for your money.
* Compare numerous companies to find the best deals.
* Decide whether you want a company that pays claims directly to the repair shop or one that will reimburse you.
* Choose a company that will give you many options when it comes to where you can take your car to be repaired. Most will allow you to get it repaired at an ASE certified repair facility or a national chain, like Pep Boys, for example.
* Evaluate the difference between an exclusionary, an inclusionary, and a powertrain service contract and decide which one best fits your needs.
* Decide what type of deductible will best suit you. The car warranty websites will explain how deductibles work, and they usually range from $0 to $100.
I am a financial planner who writes primarily about credit and personal finance.
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