As you know, if you own a vehicle you need to get some kind of insurance so that you are protected in case you get in an accident or your car gets stolen. There are many types of insurance coverages that you may include in that policy. These usually include such things as physical damage and bodily injury liability, collision, and comprehensive coverage, and all of these are generally concerned with the physical aspects of the car if it gets in an accident or has other damages. Did you also know that you can get car repair insurance as well?
Often, you will find that a car insurance company will call repair insurance "extended warranty coverage." In other words, this type of insurance is designed to cover the cost of repairing the car when the problems it has are not from an
accident and are not covered by the warranty. In fact, often these types of problems occur after the original warranty on the vehicle has expired, or they may be issues that were never covered by the factory warranty.
accident and are not covered by the warranty. In fact, often these types of problems occur after the original warranty on the vehicle has expired, or they may be issues that were never covered by the factory warranty.
The basic idea with car insurance that covers repairs is that it is a pre-paid service contract. This is why it is very important to check into the companies that may offer this type of coverage. You want to be sure that you don't get a company that is just trying to make money by selling a policy and really don't care what kind of service you get if your car actually needs a repair. Instead, you want to find a company that offers a variety of types of car repair coverage and has a good record for service when repairs are needed.
Not every person will benefit from this type of car insurance coverage. If your car is 10 years or older, it is generally not going to be beneficial for you to purchase this type of coverage. However, if you have a newer model car that is only a few years old and the warranty is about to expire, this may be an excellent route to go for a couple of years. The cost for car repair insurance premiums will generally be quite a bit higher on an older vehicle than they will be on a newer vehicle. Part of the reason for this is that if your vehicle is older, it is much more likely to need to be repaired more frequently than if it is a newer car. You will have to determine if the cost for the insurance is actually less than if you just had to make a repair to the car and pay for it yourself.
Just as with any other type of car insurance coverage, it can really pay off to shop around. You will find that with all of the competition today, the rates can really vary between companies. Be sure that you clearly understand the policy and what exactly it covers before you purchase this additional coverage on your vehicle. By learning more about different types of car insurance coverage, you can be sure to get the kinds of coverage that you really need and that will benefit you.
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