subject: The Bonified Truth About Extended Vehicle Warranties [print this page] The Bonified Truth About Extended Vehicle Warranties
Finding avenues to keep the costs low for keeping a vehicle on the road should be at the front of every motorist's to do list. Everyone has undoubtedly heard the horror stories of unfair prices charged by garages for work that has to be done to make an automobile road ready again. Extended car warranties are one thing to pursue that can help keep these garage fees as low as possible. However, there are a few things to know about these policies.
To fully understand how these warranty companies operate, a person can look to their base style of protection as a good model. This base protection that all drivers must have to be on the road is there car insurance policies. Warranties work on the same grounds that insurance companies do in that they will charge a deductible before contributing money for repairs on a claim. Make sure that all claims are lawful and made clear to get quick results.
Making a claim is process that also should be explained by the company before ever signing a service agreement. The first step in making a claim for a warranty policy is getting the vehicle to the garage where it will be fixed. This garage must be accredited and they must call the company with an estimate for repairs. The client will then have to pay their deductible and the warranty carrier will pay the rest according to the policy.
Waiting periods for policies to fully become activated is also a situation to watch out for when getting one of these plans. There has been known to be a 30 day wait period before a warranty agreement becomes fully activated as a measure for these companies to protect themselves. However, people who have dealership agreements will definitely have to wait 30 days before the policies are activated.
When it is time for a policy to be cancelled for any reason certain charges may also be applicable as well. These fees are usually hidden in the writing in a contract so it is important to look through its pages before committing to any deal. These charges are a penalty for not honoring an agreement because the company expects the monthly payments for the life of the policy.
Options for paying these plans are also as varied as the different companies that offer these services. While there is always the old method of mailing checks to a company each month, people also have the option of paying bills online. Setting up automatic payments from a checking, PayPal, or bank account is also an option. This last option works best for getting each bill paid on time to avoid bad credit ratings.
Getting extended car warranties for a car has many pitfalls that can be avoided by reading a contract thoroughly. Before signing any agreement, people should always try to have a good working knowledge of what is and is not covered in a service agreement. When looking for the right warranty, a prospective buyer should consider the effectiveness of the policy versus the cost to obtain it.
