If you’ve just purchased a new vehicle, then the last thing you want to do is spend more money on it. Luckily, you can avoid additional auto expenses by making the most of your car warranty. Whether you have a new or used warranty, understanding your coverages will help you manage future costs more efficiently. Here’s what you need to know about maximizing your car warranty.
What is a Warranty?
A warranty is essentially a guarantee issued by a vehicle manufacturer or dealer ensuring that they will cover the costs of certain repairs or part replacements that you might require during your warranty period. These repairs generally include any parts that are faulty, defective, recalled, or broken down. Keep in mind that a warranty is not the same as insurance, meaning that it will not offer coverage for the repairs associated with accidents, fire damage, weather damage, negligence, vandalism, or theft. Warranty coverage will expire after a set number of years or miles have been met.
How Much Do They Cost?
Both new and used car warranties have a deductible (an amount of money you must pay before your coverage kicks in). However, unlike an auto insurance policy, car warranties do not require the vehicle owner to pay premiums during their warranty term.
Maximizing Your Warranty
It’s important to know that you must keep up with regular car maintenance tasks and inspections to maintain your warranty coverage. Negligence in these areas could result in your warranty being declared void. You should be sure to keep all records and receipts of the work you’ve had done on your car. This will act as proof of you keeping up with scheduled car maintenance and will allow you to secure the warranty coverage that you need in the event of a mechanical malfunction.
This is what you need to know about maximizing your car warranty. Want another way to cover your vehicle? Then it’s vital that you secure the proper auto insurance protections. For assistance with your car coverage needs, contact the team at Mike Leonard Insurance Agency. Our dedicated team is eager to find you the right coverage from one of our many carriers including: Kemper, MetLife, Travelers, The Hartford, Safeco Insurance, Progressive, and American Strategic Insurance.