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Frequently Asked Questions about Auto Repair Insurance
Auto repair insurance, or mechanical breakdown insurance as it is more commonly know in the insurance world, can help protect you from costly repairs. It is something that anyone who has recently purchased a car should consider. Below are are some frequently asked questions about auto repair insurance:
How Does Auto Repair Insurance Differ from Extended Warranties?
Auto repair insurance often offers broader coverage then extended warranties. All mechanical parts are covered with auto repair insurance while extended warranties often have lots of exclusions or charge extra to cover certain components.
What if I Am Traveling?
Auto repair insurance allows you to have repairs performed at any licensed repair shop which means that you can easily get your vehicle repaired even if you are out of state. Extended warranties often require you to return the car to the dealership or a certain repair shop.
Is there a Deductible?
Yes. It is usually in the range of $250.00 but check with your insurance company regarding their policy.
Are there Vehicle Restrictions?
Most insurance companies have restrictions on how many miles the vehicle can have on it and the age of the car. Geico requires that the car have less then 15,000 miles and be less then 15-months old. You must also be the first title holder. Once you have auto repair insurance it can be extended until the car has 100,000 miles on it or is 7 years old.
What Is the Cost?
The cost will vary depending on the vehicle. The fee is added into your regular auto insurance premium. This can be more convenient then making a large upfront payment that extended warranties require. Contact your local agent for a quote.
Where Can I Buy Auto Repair Insurance?
You can often get quotes online from any of the major insurance companies. Geico offers a very popular policy. When contacting an agent it often helps to ask for a quote on mechanical breakdown insurance.
Car repair insurance can often save you thousands in repair bills and offers peace of mind from large unexpected bills. Every new car owner should consider if it is the right option for them.
