The world of car warranty plans is populated by some aspects such as:
• Intense competition between dealers.
• Different rates for similar kinds of plans.
• Choices between comprehensive and component based coverage.
• The support of leading auto insurance companies and so on.
You can do a lot of interesting research before settling on the right kind of car warranty plan. Of course, every car comes with original warranties and you will also benefit from going in for car warranty coverage from independent or third party service providers.
Keep up with the news
Every now and then, car manufacturers announce different kinds of changes to their warranty plans. These changes may encompass:
• Offer of lifetime warranties on labor and components.
• Changes in the duration or the number of miles associated with a particular coverage.
• Announcements of unlimited mileage warranties.
• New plans that may cover old and new vehicles.
It is therefore a good idea for you to keep up with industry news and even news pertaining to your specific make and model of automobile. This will give you the opportunity to change from one plan to another, if it makes better financial sense.
Research all your options
There is a lot of information out there as far as car warranties are concerned and sometimes this information may be very confusing. However, there is no way of getting around the fact that you will have to do a lot of homework or research as far as options are concerned.
To make it easy, you can compare different plans and contracts across important features:
• Duplication of coverage when compared to the original warranty.
• Length of the contract.
• The reputation and support of the insurance administrator.
• The financial payments that you have to make for the plan.
• The components that are covered by the warranty plan.
• The process by which the claims are handled.
• The reputation of the warranty provider.
All of these important features need to be assessed in detail so that you make correct choices when it comes to automobile warranty plans.
Finally, it is a good idea not to be pressured into buying a particular warranty plan from a particular dealer. Approach the whole exercise with a well informed and analytical frame of mind. This will allow you to check out the various advantages offered by each dealer and plan and only then choose the kind of car warranty plan that serves the purpose.