Home
Typical Coverage
Buying Options
Buying Tips
Affiliates
  Reviews/Blog
 
 

Buying Tips
‘12 Questions to Ask When Buying an Extended warranty
What types of coverage’s do you have available?
- always ask for a explanation of the types of coverage’s the company has available to ensure you are not buying more than you need or are being oversold when you may be covered already from your car manufacturer.
‘Can I see a copy of the contract I will be signing?
-always ask to see a copy of the contract you will sign. READ the fine print. This may indicate what the company is actually responsible for and what liabilities you may have.

What insurance company backs your policies if so?-you will always want to do business with a company that is backed by a major insurance company not a RRG, or risk retention group. The insurance company will pay your claims in case the warranty company goes out of business. This is more important than people realize.

Can I go to any repair shops or only to participating ones?
-you will want to chose a company that allows you to go to your local dealership or any repair shop for that matter. Just think what problems you might have if you were locked in to certain shops only and you were away from home.

Will you reimburse my repairs or pay the repair shop of my choice directly?
-This goes without saying. Pick a warranty that will pay directly to the repair shop rather than reimburse you. The whole reason you bought the warranty was in case you didn't have money for repairs anyway, right?

Who can I contact in case of a problem with this company?
-Just ask directly to the dealer that is selling the warranty for the contract service provider all the phone numbers for the company, just in case! Because after the dealer sells the warranty, whether it be online, over the phone, or at a dealership, no one wants to really be the one dealing with any customer problems or complaints after the sale! Go figure...
 
 

Can I cancel my contract? Will I get all my money back upon cancellation, or just a portion of it?
-Most companies will give you a portion of your money back . However you might get luck and pick one that will refund you all of your money if you haven't used the policy.
.
Are there any maintenance requirements?
-some companies will try to get off the hook for repairs if you don't have records of your regular maintenance. Just pick a company that will not do this.
What’s the deductible?
-there is always a deductible unless you paid extra for a $0 deductible.

Is there a waiting period for the contract to kick in?
-if you bought the warranty at a dealership, there may be no waiting period, Usually most companies selling warranties online or over the phone will have one to mitigate fraud.

‘stated component’This type of warranty simply “states” all of the components that it will cover on the contract. Whatever components are stated that the contract covers, that is what will be covered, nothing else. This warranty is cheaper than the exclusionary and covers most parts without the premium for the ‘bumper to bumper’ type cove

Is the company licensed in the state to do business as a warranty service provider or administrator?
-this is a BIG ONE. Make sure the warranty company is LICENSED to sell in that state.

Does the same company that is providing the service contract administer the policy or is it outsourced to another company?
-its is better to pick a company that administers its own policies. So if you have a problem, you are talking to the service provider themselves. Not another company that does its administration only, that will tell you on the phone: “I’m sorry, we are only the 3rd party administrator and we cant help you…” But you have only their phone number….
 
© Bestwarrantydeals.com. All rights reserved