Benefits Of An Extended Vehicle Protection Plan
Benefits Of An Extended
Vehicle Protection Plan
Everyone who is planning on purchasing an automobile or already owns an automobile should consider an extended vehicle protection plan. This is a service contract that provides a driver with protection for his vehicle after the basic warranty expires. An extended vehicle protection plan can be quite cheap when purchased in the immediate aftermath of an investment in a vehicle. The low cost at this point is primarily due to the fact that there isn't much of a chance that the vehicle will experience problems in the near future. It is a prudent investment as the cost of automobile replacement parts and repairs has significantly increased over the past couple of years.
Why It is So Important
The primary benefit of an extended vehicle protection plan is to avoid a situation where your vehicle becomes a money pit. Some vehicles have a seemingly endless number of expensive repairs. When the owner has to pay those costs out of pocket, he can shell out thousands of dollars that would have been covered had he invested in an extended vehicle protection plan. While car owners love their vehicles during the first year or two of ownership, many find that the relationship sours over time. Vehicles often fail to live up to owners' high expectations in years 3, 4, 5 and beyond. Even those who invest their time researching new and used vehicles will have no guarantee that the car that they choose will be as reliable as it was for other owners.
In a nutshell, extended vehicle protection plans offer the peace of mind that automobile owners deserve. Those who have such a safety net in place won't panic when their vehicles suffer mechanical problems or other malfunctions. It is a convenient form of an insurance policy that protects drivers from unforeseen circumstances.
Types Of Plans
There are all sorts of extended vehicle protection plans on the market. They have different coverage levels, time periods and costs to suit a wide range of needs. If you are primarily concerned about emergency situations like flat tires, gasoline deliveries, lockout assistance or engine jumps with booster cables, you can find an extended vehicle protection plan for those needs. You can also choose from plans that cover basic wear and tear, rental car / towing expenses, overheating issues etc. There are also popular bumper to bumper extended vehicle protection plans that cover just about all of a vehicle's components. This type of comprehensive coverage usually covers things like the transmission, fuel system, brakes, steering, engine, seals, gaskets, drive axle, cooling system and more.
Who Can Benefit
Anyone who plans on owning a new vehicle for more than three years should purchase an extended vehicle protection plan. Most new cars come with a 3 year / 36,000 mile warranty. Therefore, you'll need protection beyond those first 3 years as you'll be required to pay for all repairs and emergencies out of pocket without an extended coverage plan. Those who buy used vehicles should check to see if they come with warranty coverage and how far those plans extend. Most used vehicles have very short warranties as the original factory warranty has typically expired. Drivers in this situation will especially benefit from the peace of mind that an extended vehicle protection plan offers.