Car Warranty New York NY
If you are looking for protection for your vehicle, it's best to look for reputable extended warranty firms. You don't want to be working with a company that has bad business practices or a unsatisfactory service to customers.
Our review team has evaluated several providers to identify the most trustworthy extended car warranty companies available, all of which also were highly rated in our most comprehensive extended warranty 2022 review (see methodology below). We'll examine each company in depth, focusing on their business practices and reputation. We'll also touch on what makes a company reputable and how to select the best one to meet your requirements.
What makes an extended warranty company reputable?
Any reputable and worthwhile extended warranty providers in 2022 should be able to tick the following boxes:
Strong industry reputation
We consider our sources of information, the Better Business Bureau (BBB) and AM Best when considering a business's reputation in the market. The BBB evaluates companies based on their ability to respond to and resolve customer concerns. If a business has an excellent BBB rating, there's a good chance it effectively communicates with contract holders on a timely basis.
Some providers work with vehicle service contract underwriters to ensure claims payouts. To assess the strength of these underwriters' financial ratings, we look to AM Best, which rates a business's financial ability to pay claims and to manage risks.
Some extended warranty providers, like Carchex are also endorsed by top companies in the industry. These partnerships are an indication of a trustworthy service.
Customer satisfaction ratings are high.
The BBB, Google and Trustpilot all offer customer reviews for extended warranty businesses. We recommend using multiple review sites when deciding on the right provider. It's not uncommon to see low scores for customer reviews on the BBB because customers trying to settle their complaints tend to leave reviews on this platform.
Positive customer reviews can be a good method to determine the quality of service provided by an extended warranty provider. Look for companies with reviews that mention a quick claims process , and friendly customer service representatives. Also, avoid companies who have complaints from customers about their bad habits, like fraud calls and misleading advertisements.
Transparent business practices
Many reliable extended warranty companies provide sample contracts online so customers can review the coverage details before signing the"dotted line. The most common complaint among contract holders is claims denials.
By choosing a provider that readily offers information about the terms of its contracts, you'll be better equipped to be aware of what is not covered. However, it's important to be sure to read the fine print regardless of which provider you select.
A long-running company's history
In our study, we've discovered that the top, most trustworthy firms have been operating for more than years. The warranty industry is highly competitive, making it very easy for companies to move and go, particularly if they have negative reviews from customers and have fraudulent business practices.
User-friendly
It's also crucial to find an insurance plan that is simple to use. Does it cover directly to the repair facility? Do you have additional benefits such as roadside assistance and rental car reimbursement? Are there a 30-day refund guarantee if you are not satisfied? Each of our suggestions offers these benefits.
The most reputable extended car warranty company
When identifying the five most reliable extended warranty providers available, we considered the factors above, as well as cost and coverage options. After we researched auto warranty companies across the industry, Endurance, Carchex, Protect My Car, CarShield and autopom! topped our list for reputability
#1 Protect My Car: Most Maintenance Plans
Available All states, excluding Alaska, California, Hawaii, Missouri, Oklahoma and Washington Highest mileage limit 125,000 miles
Additional benefits Assistance with roadside emergencies, rental car reimbursement and trip interruption
Protect My Car holds some of the best customer reviews scores for any warranty provider. Protect My Car is awarded an A+ score from the BBB as well as an 4.5-star customer review score at the time of its publication. Customers have weighed in on Trustpilot to give the company an average of 4.5 rating with more than 2300 reviews.
The employees of Protect My Car are accredited by the Association of Certified Vehicle Protection Professionals (ACVPP). The certification is based upon ethical practices in business and consumer protections, as well as the Magnuson-Moss Warranty Act and more. As per the Federal Trade Commission the Magnuson-Moss Warranty Act "requires warrantors of consumer products for consumers to offer clear information regarding warranty coverage."
Protect My Car's customers often report positive experiences with the customer service team as well as the simplicity of the claim process.
Protect My Car extended warranty plans
Protect My Car offers three options for coverage, and they can extend up to 10 years or 25,000 miles. This includes:
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Protect My Car Plan |
What It Covers |
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Supreme |
Similar protection to the original factory warranty of the vehicle. |
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Select |
Ideal for vehicles with more than 50k miles. It also provides coverage just a little less than the Supreme plan |
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Driveline |
Powertrain protection for vehicles between 4 and 10 years old with more than 100,000 miles |
Protect My Car also has five maintenance programs that are prepaid and referred to as Ambassador Maintenance Plans. A Maintenance Plan includes a mix of repairs to cars and regular maintenance.
Cost of an extended warranty on a car
An extended warranty for a car costs between $1500 and $3500. Based on our survey of consumers approximately 67% of those who responded have paid between $1500 and $2,500 to get an extended warranty. Extended warranties are determined by the model of your car, so comparing quotes will allow you to determine the most affordable price.
Is an extended warranty worth it?
Extended warranties are beneficial for many car owners, but it is important to think about your specific situation when choosing the right contract. If you own a trustworthy vehicle or are planning to sell your vehicle before the manufacturer's warranty expires, then a protection plan may prove to be not worth the expense. The same is true for drivers with savings that are set aside for repairs to their vehicles.
But, you must take into consideration additional insurance if any of the following scenarios apply to you:
You're looking for peace of mind
Repairs to vehicles can be expensive to cover out of pocket. Once your manufacturer's warranty expires you're financially responsible for any mechanical or electrical failures. Extended warranties foot the bill for covered repairs, easing the anxiety about future problems.
You want a predictable auto budget
If you pay for a car service contract in advance or through a monthly payment arrangement, or part of the financing of your vehicle it is safe from having to pay for unexpected repair costs after an unexpected mechanical breakdown.
You plan on owning your vehicle for a lengthy period of time
According to research from IHS Markit, the average age of a light vehicle that is operable across the U.S. was 12.1 years as of 2021. Since the majority of bumper-to bumper warranties end after 4 years or 50,000 miles, you could be driving an unprotected vehicle for over the half-life of your vehicle.
It is important to think about the cost of repairs to your vehicle. The more you anticipate to be charged for repairs, the more likely you are to be able to take advantage of extended warranty protection. Here are some typical annual repair expenses for top automakers, based on RepairPal:
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Car Brand |
Average Annual Repair Cost |
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Honda |
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Acura |
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Lexus |
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Subaru |
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Ford |
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BMW |
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Land Rover |
What are the opinions of consumers?
Our team polled 1,000 consumers who had experience purchasing or shopping for an extended car warranty plan. In this sample, around 75% had bought extended warranties from dealerships 44% purchased a third-party extended warranty.
The respondents to the survey stated that price was the top aspect, followed by the duration of the warranty and the coverage levels. Overall, 64% of the people who took part were satisfied with their extended warranty, and 13% of them said they were neither satisfied nor dissatisfied.
On the contrary, 13% said they were not satisfied regarding the warranties. Some said the vehicle warranty didn't cover anticipated repairs, while others said they were concerned that the company tried to avoid making repairs.
Are you considering an extended warranty with the dealer?
In addition to trusted extended car warranty providers Drivers can also purchase insurance from the manufacturer of their vehicle. Since these contracts are usually backed by automakers themselves, they may lessen buyer anxiety about reputability.
Manufacturer contracts guarantee factory-trained technicians and the use of genuine parts to repair. However, they also have a few restrictions, including:
Limited repair shop choice
Most manufacturers require drivers to visit the dealer or a branded repair center for repairs. Although this might not sound like a big deal however, certain automakers have comparatively small dealerships throughout the nation. For instance there are only about 100 MINI dealerships across the U.S.
Vehicle service contracts that cost a lot of money
You could face dealer markups in addition to the cost of the contract if you purchase a protection plan that is backed by a manufacturer.
A broader range of options for coverage
Typically, manufacturers offer a few insurance plans for vehicles. Based on your requirements you could purchase too little coverage or purchase coverage that isn't needed.
Things to consider prior to buying an extended warranty from a third-party
A third-party warranty an outside company other than your vehicle's manufacturer can cover repairs. The major benefit is that it's typically less costly than a manufacturer's extended warranty.
However, a third-party insurance plan might or might not cover the original equipment manufacturer (OEM) replacement parts. If you go to an agent and buy OEM components, then you may be required to pay a percentage of the repair expense based on the terms of your contract.
The most reputable extended car warranty companies will pay the repair shop directly, which means all you pay for is your deductible. Certain less reputable companies will have you pay upfront for repairs and provide receipts for reimbursement, so watch out for these companies.
Read through the contract thoroughly before purchasing the plan. Look for specifications on:
Limits to the coverage of the labor rate
What is the definition of mechanical failure?
Maximum amount of money that can be paid per contract
OEM Parts Coverage
Inspections or waiting periods are required prior to coverage
Maintenance documentation is needed
Emergency repair procedures
Cancellations and contract transfer
Additionally All extended warranties include exclusions. This can be a case of specific parts, such as cosmetic items or components for emissions, or maintenance items like brake pads and oil replacements. Be aware of what's not covered to ensure you don't get disappointed later on. One of the most frequent complaints regarding extended warranties is repairs not being covered.
Sometimes, companies don't cover a valid repair. However, in many cases the contract explicitly excludes the repair in question. Be sure to read the entire fine text, and don't rely on a salesperson to explain every clause to you.
Can you buy an extended warranty when you purchase a vehicle?
Some dealers allow you to add an extended warranty before your warranty ends, whereas others require that you purchase it when you purchase a brand new vehicle. But, nearly all third-party companies offer plans for used vehicles that are out of the factory warranty period.
How can I end an extended warranty the car
To terminate an extended warranty, need to contact the contract administrator and submit an official cancellation request in writing. It is also possible to submit a notarized odometer statement. The most reliable extended warranty providers provide 30-day money-back guarantee and prorated refunds after that.
How do you find the best warranty company for you
When you're considering extended car warranty providers, it is best to compare quotes. So, you can ensure you find the right coverage plan that fits to your needs and budget.