If you, like many people, stress over surprise car repair costs, you’ll want to consider purchasing a vehicle service contract. People are always on the hunt for new car arrivals to replace their old makes and, as such, are likely to skip buying an extended warranty with the hope that they will be trading in their used cars or dispose of their vehicles sooner or later. However, if you are not so sure when you will be letting go of your current ride in favor of a new one, it is recommended to not drop or cancel your existing extended warranty coverage yet.
Peace of Mind
Manufacturers selling new cars typically offer coverage against mechanical breakdowns under the default factory plan, but only for a few years. The offer may either be mileage or time-bound, depending on the policy of the manufacturer from whom you are buying your car. This means that after the expiry of the coverage, you will want to choose between buying an extended warranty plan or pay for the repair costs from your own pocket in the likely event that you have unexpected breakdowns. But who wants to grapple with the high repair costs? While these costs do not scare all car owners, a significant number of Americans owning cars prefer having the peace of mind that they have a reliable auto protection plan.
An Insurance for your Car
A vehicle service contract works like a typical insurance policy where the policyholder pays for the protection upfront in exchange for a promise to take care of the covered repair costs. This way, car owners won't have to worry about what they will do in case of unexpected repairs since everything is well covered under the plan.
Here are some of the main highlights of a vehicle service contract that you should know.
Options for Vehicle Service Contracts Abound
You can find extended warranties from numerous sources, so buyers have the leeway to research the best and settle for the right provider. Since each company may have its own fair share of advantages, depending on the expectations and needs of customers, it is important to comb through the options before making your final move. You have the liberty to choose a company that has a lower deductible, especially for the kind of repairs you feel will prove extremely expensive for you. There is plenty of room to find your best bargain, especially if you are patient and keen on details.
Keep in mind that some extended warranty plans come with a specified maximum payout, so you want to know this whenever you are shopping for your coverage. Therefore, closely assess the features that have been excluded and whether you will be able to cope with the plan.
Is a Warranty or Vehicle Service Contract Worth it?
Perhaps the most common question that keeps popping up whenever people are thinking of whether or not to buy a vehicle service contract: is it worth it? Typically, a warranty covers breakdowns or wear and tear of key components, or both. The long and short of it is that any vehicle service contract that does not provide coverage to most component parts that often need repairs is not worth buying. Just because some parts may fail doesn't mean you must have them covered. After all, there are some items or repairs that you can comfortably pay for instead of buying expensive coverage. So be sure to check the coverage to see if it adequately addresses your car’s needs and that it fits into your budgetary limits.
How Veritas Global Protection Helps
Many companies out there provide a range of protection plans, but Veritas Global Protection is a great example. At Veritas Global Protection, you are assured of service contract coverage wherever you find yourself, making it one of the few truly global auto protection companies. The primary focus of Veritas is to provide clients with top-notch customer service that guarantees peace of mind while on the go.
