• Getting Mechanical Breakdown Insurance for Older Cars

    Mechanical breakdown insurance can be a huge help when large unexpected repair bills pop up. Unfortunately, unless you own a newer vehicle, this coverage will not be available to you. If your car does not meet your insurer’s requirements, there is another option that provides roughly the same coverage with a few differences.

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    Mechanical Breakdown Insurance

    This type of insurance is often limited to new vehicles. The car must be less than 15 months old and have less than 15,000 miles on it. The owner must be the first title holder. If your vehicle meets these requirements, then mechanical breakdown insurance or auto repair insurance is often a good investment. It must be purchased from a insurance company as it is an insurance product. Once you have mechanical breakdown insurance on your vehicle you can renew it until the vehicle has 100,000 miles on it or is seven years old. It covers repairs or replacement of all major components on your vehicle that are caused by breakdown or wear and tear. It does not cover breakdowns caused by accidents and does not provide any liability coverage.

    Other Options

    If you vehicle does meet these requirements you can often find the same type of coverage with an extended warranty. These warranties cover repair or replacement of most major components of the vehicle. You can purchase a extended warranty on vehicles that have up to 100,000 miles on them. Extended warranties can be purchased from the dealer when you are buying the vehicle or other outlets. A quick search on the Internet will yield hundreds of websites ready to sell you an extended warranty. It is important to do your research, as some of these companies are scams. It is always a good idea to look for sites that have been Better Business Bureau approved.

    Extended Warranty Options

    When purchasing an aftermarket warranty, it is extremely important that you completely read and understand the coverage. Extended warranties are available in a variety of coverage options and the cheapest option is not always the best buy. Verify that all the major components of the vehicle are covered, as some extended warranties will often have long lists of exclusions. The number of repair locations is also an important factor when considering a warranty. If the vehicle has to be returned to the dealership for repairs, it will make it difficult to get the car fixed if you are out of town when the breakdown occurs.

    Manufacturer Backed Extended Warranty

    This is a warranty extension offered by the manufacturer of the vehicle. These warranties allow you to get the vehicle fixed at any of the manufacturer’s dealerships which makes getting repairs done out of town easy and hassle free. These warranties come in a variety of options, bumper to bumper or major components like the transmission. These are the best and most convenient extended warranties.

    Aftermarket Extended Warranties

    These warranties are offered by a third party company and are sold by dealers or other outlets. The main drawback of these warranties is you are often limited on repair locations and some have an extensive list of exclusions. If you are out of town when the breakdown occurs you will often be required to pay for the repair and wait for reimbursement. These warranties provide coverage but it is very important that you are aware of all conditions of the coverage.

    Mechanical breakdown insurance is not for everyone, as there are a number of restrictions. If you don’t meet the requirements for auto repair insurance it pays to consider an extended warranty.

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