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warranty company

These days, we can get warranty plans on our dishwashers, our iPods, our television sets and our automobiles. But how many of these extended warranty plans are really necessary? Is it all just a scheme to milk a little more out of the consumer, while industry standards allow the “build-it-to-break” model to continue? When it comes to big ticket items like your vehicle, you may want to consider the benefits of extended warranty coverage.

One common problem people run into is to fail to read and understand the agreement before they get work done. Knowing the right questions to ask your warranty company is crucial, experts say. For instance, ask if you can get the work done at any shop, or do you have to look for a certain certification, or in some cases return to the dealer? Additionally, is your car covered for “wear and tear” damage or just mechanical failure?

You should have a comprehensive list of all the parts that are/aren’t covered! Sometimes you’ll get a “bumper to bumper” warranty that covers everything except for the wear items, like brakes and tires, while other times you’ll get a “power train” warranty, which covers the engine and transmission. While it’s rare to find a company that offers coverage for everything, you should ensure that some of the most expensive repairs will be taken care of.

Additionally, beware of flyers and spam emails from companies offering warranty plans that seem almost “too good to be true.” If the prices are far lower than everywhere else, it’s probably not a good idea. If you can’t find information about the company from the Better Business Bureau, avoid them. One thing you should be aware of is that there are some “companies” out there that look to cash-in quickly, only to go bankrupt in a few years, leaving you with a useless automobile warranty that no one will honor. Even some legitimate companies just don’t have back-up financing, so if claims come pouring in, they run out of money and go belly-up. To protect yourself, look up as much information as you can before signing with a company and look for a longstanding track record.

Some people need warranty plans, while others can get by simply saving money each month for anticipated repairs. Regardless, the best way to protect your investment is to get regular oil changes, air filter changes, fluid top-ups and tire rotations. Don’t let things wear down until they wreak havoc on other parts of your vehicle. Before you visit your dealership to buy a car, do a little bit of internet research and get an extended warranty quote. You’ll be happy you had that bartering chip later.

extended warranty coverage

“I estimate that the WCPSOnline website has helped us to be over 40 percent more efficient over the last two years,” explains Warrantech VP Link Wiley. “But it is not just about cutting our costs. The cycle of authorization, repair and payment is shorter, so service centers save time as well. Essentially, the customer gets faster service, the service centers get paid quicker and we are able to keep the pricing of our warranty plans competitive.” By modernizing their operations, this highly esteemed warranty company is able to improve customer satisfaction through process efficiency. They work with dealerships to offer new car warranties, but they’re also marketing to people who are looking to extend their used car warranties as well.

The most popular plan offered by Warrantech is the Repairmaster. The “Powertrain Coverage” plan includes the engine, turbocharger, transmission, drive axle and transfer case components. Or you may choose the “Select Coverage,” which includes all powertrain components, as well as electrical, steering, air conditioning and brake components. The third plan offered is the “Deluxe Coverage,” giving you everything in the Select Plan, plus cooling, front/rear suspension, fuel delivery and enhanced electrical components.

There are also optional surcharged plans to accommodate vehicles that get a lot of wear and tear. For example, the Commercial Use plan, the Seals and Gaskets plan (for vehicles with over 80,000 miles), the Enhanced Electrical plan and the Conversion coverage plan (for recreational vehicles). With all plans, you’ll receive travel/towing bonuses.

Warrantech first began in 1983 when Joel San Antonio and William Tweed switched from the women’s apparel industry to the consumer services world. Though they offered warranties on all sorts of electronics, homes and other areas, it was the automobile industry that brought them the most fortune. They had a large number of BMW clients, particularly, and fulfilled an important niche for people with older cars who were having trouble finding extended warranty coverage. Following an aggressive sales campaign in the early 90s, Warrantech went from $6.2 million in sales to $30 million in just two years time! Now the warranty company has branched out into quite the successful conglomerate over the years, with service offerings in the US, Canada, Puerto Rico and Latin America, and annual sales reaching $121 million!

If you’ve looked at the Warrantech page and weren’t impressed by the offerings or the company legacy, then there are many other sites to try for an extended warranty quote. Warranty Direct and the National Warranty Corporation are two other highly praised, competitive companies you can check. One important thing to remember is that you can often get a better deal shopping around on the internet, rather than going through the dealership with its retail markup.