Owning a car is an investment that only pays off when that car can reliably get you to your destination. Cars are machines, and they will experience issues as they age. That said, you may want to consider purchasing an extended car warranty to help cover significant repair costs in the event of unexpected car troubles. Selecting the best extended car warranty can be challenging, with so many to choose from. Let’s explore extended car warranties and the top four providers that offer them.
What’s an Extended Car Warranty?
All vehicles come with a limited factory warranty from the manufacturer, but a factory warranty eventually will expire, leaving you to cover all repair costs out of pocket. An extended car warranty works by covering the cost of specific repairs once the factory warranty is no longer in effect. So purchasing an extended car warranty is a good idea if you keep your vehicle for the long run.
A few common repairs that a bumper-to-bumper extended car warranty will cover include:
- All major vehicle systems
- Air conditioning and heating
- Electrical components
- Steering
- Safety features
- High-tech systems
- Select engine components
- Hybrid vehicle parts
A few common repairs that a powertrain extended car warranty will cover include:
- Engine
- Axles
- Seals
- Transfer case
- Transmission
- Driveshafts
- Gaskets
Best Extended Car Warranty Companies
Auto manufacturers offer extended car warranties from the factory. These warranties often have less coverage and cost more than warranties from an aftermarket provider. According to MarketWatch, the following extended car warranty providers have excellent coverage and reasonable prices:
1. Endurance
Endurance tops the list with the best comprehensive coverage. Endurance’s headquarters are in Northbrook, Illinois, and all states accept it except California. Endurance handles all contracts and customer claims in-house, making it a direct provider. With six coverage plans that offer term limits of up to eight years or over 200,000 total miles, Endurance is hard to beat. The total costs for Endurance extended car warranties range from $2,990 to $3,990.
All extended car warranty plans from Endurance include the following for the life of the contract:
- Towing
- Roadside assistance
- Rental car reimbursement
- Trip interruption benefits
Here’s a brief rundown of Endurance’s six warranty levels:
- Supreme: With only a few exclusions, this level covers most mechanical and electrical components.
- Superior: This level offers the top level of stated-component coverage.
- Secure Plus: This level covers the brakes, some electrical components, steering, air conditioning, and the powertrain.
- Secure: With your wallet in mind, this level is budget-friendly, protecting the transmission, water pump, and engine.
- Select Premier: This level is tailor-made for used cars with high mileage. It covers the heating and fuel systems, cooling, electrical, heating, air conditioning, and powertrain.
- Endurance Advantage: You get a seamless combination of stated-component warranty and prepaid maintenance at this level.
2. Carchex
Coming in with an impeccable industry reputation is Carchex. Carchex was established in 1999, is available in all 50 states, and has its headquarters in Hunt Valley, Maryland. With available term limits reaching up to 250,000 total miles, Carchex offers what can only be recognized as some of the longest-lasting warranties in the industry. Though Carchex provides extended warranties for new and used cars, its used car warranties are exceptional. The total costs for Carchex extended car warranties range from $120 to $170 per month.
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With five warranty levels to choose from, you are sure to find the extended warranty you need from Carchex:
- Titanium: Almost all vehicle components fall under this exclusionary coverage.
- Platinum: Covering hundreds of parts, this is the top level of stated-component protection.
- Gold: This level is suitable for high-mileage vehicles, protecting all significant systems.
- Silver: You can expect this level to cover a few critical systems and powertrain components.
- Bronze: The transmission and engine are protected at the Bronze level.
3. Protect My Car
Protect My Car offers the most maintenance plans. Protect My Car is available in every state with the exception of Alaska, California, Hawaii, Missouri, Oklahoma, and Washington. Protect My Car has its headquarters in Saint Petersburg, Florida, and was established in 2005. Protect My Car is an excellent choice for people on strict budgets, specializing in low monthly payments. Protect My Car warranties won’t cover vehicles over 13 years old.
Protect My Car extended warranty plans offer up to 10 years or up to 125,000 total miles. They have three warranty levels, including:
- Supreme: This level provides warranty coverage that is very similar to the factory warranty of a new vehicle.
- Select: At this level, the coverage is slightly below the Supreme level and is better for cars with over 50,000 miles.
- Driveline: This level provides powertrain protection for vehicles that are 4 to 10 years old and have more than 80,000 miles.
4. CarShield
If you are a budget-conscious individual, CarShield is the extended car warranty provider for you. The total costs for CarShield extended car warranties range from $89 to $130 per month. CarShield plans are the longest contracts in the industry. You will find six well-balanced warranty levels to choose from, lasting up to 300,000 total miles:
- Diamond: Almost all of your vehicle’s electrical and mechanical components are covered under this level.
- Platinum: At this level, older vehicles with high mileage will benefit from the protection of their transmission, electrical system, engine, air conditioning, starter, fuel pump, water pump, and more.
- Gold: This level protects the transmission, alternator, engine, water pump, air conditioning, power windows, and starter.
- Silver: The most affordable level is Silver, covering the transmission, water pump, and engine.
- Aluminum: Your vehicle’s high-tech components are protected at this level, including the starter, engine control module, navigation system, and alternator.
- Motorcycle & ATV: This level is for you if you drive these nonstandard vehicles.
A few other extended car warranty providers to consider are Autopom!, Olive, ForeverCar, Concord Auto Protect, and Toco. You will need to research each provider for the extended car warranty that best fits your needs. Remember that your factory warranty will eventually run out and leave your car unprotected against high-cost repairs. When this happens, you will be left holding the bill when you have unexpected car trouble unless you purchase an extended car warranty.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.
