What are extended vehicle warranties?
Although it is called a warranty, an extended vehicle warranty is more accurately called a vehicle service contract. This is because you can purchase it after buying a vehicle which makes it an additional payment.
Extended vehicle warranties will compensate for the mechanical breakdowns that the car may experience. The specific parts covered, the mileage, and the pricing will depend on the specific contract that you will buy and its provider.
Should you get one?
Extended vehicle warranties are recommended for those who want to ensure that they will not have to pay for sudden repairs in the future. This is because sudden mechanical breakdowns can take a toll on those who use it regularly for their livelihood. Aside from compensation for the damage parts, rental car coverages are also offered for you to return to normal trips.
Aside from these, extended vehicle warranties are also flexible. They offer different types of coverages (either bumper-to-bumper, powertrain, or somewhere in between) for different mileages. They can also meet the needs of various budgets.
USAA Extended Vehicle Warranty
USAA is a renowned company that offers different services for its members. These include insurance (auto insurance, rental property, homeowner, etc.), banking, investing, real estate, retirement, health insurance, and IRAs.
Their extended vehicle warranty has been discontinued and will only be available for those who have already subscribed to it. Their requirement for offering the warranty is a membership.
The following are the requirements for being a member of USAA:
• You are a current member of the Armed Services
• You have previously served in the Armed Services
• You are the spouse of the those written above
• Adult children of those written above
There are also limitations for those with Level 1 or Level 2 memberships. The specifications are written on their website.
USAA offers two warranty plans. These include the Comprehensive Protection and Manufacturer Wrap Protection. Their plans are limited to a mileage of 50,000 or less.
Their plans are administered by a third-party company which is Assurant Solutions. This can be both an advantage and a disadvantage. As a pro, it can give you more comprehensive plans. However, having to talk to a third-party may make the process of receiving compensation more complicated and may cause it to take more time.
The first plan is the Manufacturer Wrap Protection. It is recommended for those with 30 days or 1,000 miles left from their original car warranty. It becomes effective after the expiration of the earlier mentioned warranty.
The second plan is the Comprehensive Protection is recommended for those with cars less than 10 years old and with less than 115,000 of mileage. The coverage for this plan is bumper-to-bumper. This means that transmission assembly, engine, and drive axle are included.
Even though they have very exclusive membership options, USAA is worth it. This is because it offers benefits that exceed those given by other companies.
The first benefit is the rental car coverage they give. In case you are unable to use your car because it is being repaired and you will be required to rent a car, USAA will give you compensations for an unlimited number of days. Other companies are known for limiting this to one week at most. USAA offers up to $50 for the coverage for each day.
The second benefit is the deployment coverage extension. Because most of its members are active members of the Armed Forces, USAA gives an extension for the validity of their extended warranties up to 15 months if they are deployed. They are also given $45 for oil changes once they return. This ensures that the vehicles of deployed personnel will be maintained.
Even though they have exclusive memberships, their customer service is top-notch. They are very knowledgeable about the different parts of their warranties. They were also willing to attend to almost all our inquiries. They were also not pushy with their deals, unlike the representatives of other companies.
Aside from this, members are also allowed to pay for their warranties over a period of 18 months. They also have a 60-day money back guarantee.