CarShield looks into whether or not you can get Car Repair Insurance, and which option is right for you.
People look to Car Insurance to protect them in the event of a car accident. Normal auto insurance is almost universally a requirement to legally drive, but the price and type of coverage you can find varies by the state you live in. For a great review of that information, check out Insure.com’s comprehensive list.
Even though you’re legally required to have car insurance, you may never be in a traffic accident. But your vehicle needing repair, or breaking down completely, is more of when, not if, situation. That being the case, it makes sense to safeguard yourself from that inevitability.
Can You Get Insurance for Car Repairs?
The yearly cost of owning a vehicle continues to rise. Yet that rising cost only includes things like car payments, auto insurance, taxes, routine maintenance, and fuel. That doesn’t even begin to factor in how much it would cost to replace a major component of a vehicle.
Even a minor repair can end up costing you an average of $500 to $600, according to Cars.com. A major repair could end up costing thousands of dollars out of your pocket that you haven’t budgeted out for such an enormous car repair bill.
There must be some type of way to protect yourself from such an event. Surely, if you can get insurance against collisions, you can get insurance against your vehicle breaking down, right?
The answer is yes, but good luck finding it because such a thing named Car Repair Insurance doesn’t exist. I personally called my Auto Insurance Provider and was told that they do not offer that type of protection.
Oddly, traditional Car Insurance Companies don’t offer Car Repair Insurance, at all. Which is surprising when you consider how many other things you can bundle into your normal auto coverage policy.
You insure your car against theft and collisions; and then get the option to bundle in your home, boat, RV, and even some objects inside your home onto your policy. With all that kind of coverage possible, it’s amazing that it is a struggle to find protection against your car breaking down. Fortunately, you do have other options when it comes to safeguarding yourself against costly Car Repairs.
Alternatives to Auto Repair Insurance
The first option you have when your purchased vehicle is approaching the end of its manufacturer’s auto warranty is to pay for an extended warranty. You can do this at the time of purchase and roll the cost into the financed amount. This is a popular way of getting extended coverage against needed car repairs long before they even happen, but keep in mind this route will cost you more money as you have to pay interest on the financed cost.
Extended car warranties also can be limiting in where you can get the car repair work performed. Sometimes you are required to have the repair work performed at the Auto Dealership where you purchased the car. This doesn’t always make for the most convenient car repair experience.
Also be aware that extended warranties are usually marketed as “bumper to bumper” protection at the dealership. However, that is not always the case. It’s very important to carefully check and see exactly what your possible extended warranty actually covers. That keeps you from being at the dealership and receiving a large repair bill that you were not expecting.
Car Repair Service Contract
Finally, you have the option of purchasing a Vehicle Service Contract to protect against Car Repair costs. A Vehicle Service Contract is similar to the items listed above however it does give you the benefit of choosing protection for specific components of your vehicle, and you don’t have to purchase it before the Auto Manufacturer’s Factory Warranty expires.
So, if you purchase a used vehicle with 50,000 miles on it, you’re still able to get affordable protection for the car, even if you didn’t purchase it brand new or pay for an Auto Manufacturer’s Extended Warranty.
Another benefit of choosing a Vehicle Service Contract is that you’re able to select whichever ASE Certified mechanic or Car Dealership Repair Facility you’d like. Not being limited in selecting which repair place to take your vehicle means that you have the freedom to get your Car Repairs made when and where convenient for you.
When consumers go looking for car repair insurance, what they are really looking for is value and peace of mind. Getting a Vehicle Service Contract from CarShield can provide just that. You get the value of flexible, yet low monthly payments that give you the level of coverage you’re looking for, and the peace of mind of 24/7 Roadside Assistance. We know that breakdowns don’t only occur when it’s convenient. That’s why CarShield is there and even offers assistance with a rental car to help you while your repairs are being performed (see contract for details).
Click here to get your free customized quote on a vehicle service contract from CarShield.com today.