Car Insurance For Mechanical Repairs – Car repair insurance can help you pay for expensive maintenance and damage after your factory warranty expires. But the cost of car repair insurance depends on the age of your car, driving habits and existing car insurance policy.
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Car Insurance For Mechanical Repairs
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When you bought your car, you likely bought a standard car insurance policy – and you may have an extended warranty to help pay for mechanical problems. But what happens when that warranty expires?
Once your car’s warranty expires, you are financially responsible for subsequent repairs, which can be expensive. One way to reduce these costs is to get car repair insurance – also known as mechanical breakdown insurance.
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Car repair insurance serves a similar purpose to a car warranty – to ease your financial burden if something goes wrong with your car, such as a faulty engine or blown transmission. But remember that this type of insurance doesn’t cover traditional wear and tear, like oil changes and tire replacements, or damage from accidents.
Before you buy auto repair insurance, you need to find out if it makes financial sense for you. Depending on the age of your car, how much you drive it, and your current financial situation, you may be better off without it. Let’s explore what car repair insurance is, what it covers and who it might be best suited for.
Car repair insurance, sometimes known as mechanical breakdown insurance, is coverage you can add to your current auto insurance policy to pay for repairs that aren’t related to an accident.
It essentially serves as a car warranty and can cover repairs such as brake replacement, engine parts or a blown alternator.
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But it’s important to note that not all car repair insurance policies are created equal – coverage can vary depending on the insurer you choose. And remember that car repair insurance may not be available through all insurance carriers.
While it may sound like auto repair insurance and extended warranties function similarly, they actually work very differently. An extended warranty covers specific types of car repairs for a certain period of time or up to mileage allocation, while car repair insurance provides ongoing coverage (again, what’s covered can vary) as long as you pay for it.
Before you choose an extended warranty, you should understand what is covered. Keep in mind that these types of warranties often come with a hefty price tag — and depending on what kind of repairs you have down the road, you could still be stuck paying the bill.
First, while standard car insurance is required by law in most states to financially protect you and your car if it is damaged in an accident, theft, or otherwise – car repair insurance is
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In addition, standard car insurance covers damage related to an accident, while car repair insurance covers mechanical problems unrelated to the accident. You can think of it this way.
Many companies offer auto repair insurance, although they may sell it under a different name. Here are some examples.
Geico offers mechanical breakdown insurance (or MBI) for new or leased vehicles that are less than 15 months old and have less than 15,000 miles on them. You can renew your Geico MBI every seven years or 100,000 miles – whichever comes first. Geico’s MBI covers repairs to all mechanical parts of the vehicle (except maintenance and general wear and tear) after a $250 deductible.
The AAA Car Protection Plan provides coverage for unexpected repair costs for car owners after the factory warranty expires. AAA offers three protection plans (Silver, Gold and Platinum) with different levels of coverage to suit customer needs and budgets. Some of the repair services that come with all three packages include air conditioning and heating, cooling systems, fuel system and transmission.
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Allstate Long-Term Powertrain Wrap Vehicle Service protects consumers from out-of-pocket vehicle repairs such as engine, transmission and drive axles, in addition to brakes, electrical, steering, cooling and more. Allstate pays 100% of covered parts and labor after deductible.
Buying car repair insurance has several advantages. This will give you peace of mind knowing you likely have coverage for unexpected repairs. But as with all warranties, you need to make sure you know in advance how the repair process works, whether you’ll have to pay upfront and reimbursement if your service provider pays for the repair.
You may want to get car repair insurance when your car gets older or if you buy a used car with significant mileage.
But buying car repair insurance might not make sense for a new car. The types of problems that car repair insurance typically covers (such as engine, transmission and mechanical) may not occur for a long time. And if they do, your existing new car warranty will likely cover the repair costs. So at least before your new car warranty expires, it can pay to save you money and then consider whether it makes sense for you to buy car repair insurance.
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Now that you have a better idea of what auto repair insurance is, consider whether it’s a good value for you.
If so, start by checking if your current insurance carrier offers auto repair insurance or something similar. If so, ask for a quote – and be sure to ask for a detailed list of what repairs will be covered. Car insurance companies usually offer similar coverage when it comes to their auto insurance product. But their car insurance repair options can vary.
Remember to shop around to find the best price and coverage for your situation. Just because your insurance company offers auto repair insurance doesn’t mean you have to use their product.
If you don’t think car repair insurance is worth it, don’t worry—there are alternatives. You can consider an extended warranty from your car manufacturer or a third party before your factory warranty expires. Just like with car repair insurance, be sure to shop around for the best price.
Mechanical Repair Coverage (mrc), Auto Repairs
About the Author: Joe Deaton has been a professional writer for 20 years specializing in the real estate and insurance industries. He has a bachelor’s degree in journalism from Rider University. You can contact Joe on his website, … read more. You are here: Home 1 / Committed to Our Community – Blog 2 / Blog 3 / Does my auto insurance cover mechanical repairs?
The cost of repairing or replacing a transmission or engine in a car can be staggering. Many people wonder what exactly an auto insurance policy covers. Does your auto insurance policy cover things like transmission repairs, tires, faulty wiring or worn suspension parts?
In short, no, your auto insurance policy will not pay to repair wear and tear items on your car. The only time some items may be covered is when they are damaged as a direct result of a covered loss, such as a collision.
Insurance is not designed to repair parts that are damaged or worn due to normal wear and tear on your vehicle. There is no coverage for things like mechanical breakdowns or maintenance.
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So what options are there to cover these things? When you buy a car, some dealers offer an extended warranty. This warranty policy essentially extends the manufacturer’s warranty on new vehicles. This is an insurance program that provides coverage for things like mechanical failure of your transmission or engine parts.
If you have questions about car insurance, contact our agency. There are tons of car insurance options out there, don’t stress! Let the professionals at Dupre Carrier Godchaux Agency, Inc. gather quotes from multiple insurance carriers and present you with the best options for your budget and needs! Our agents are here to help you with rate comparisons, discounts, flexible payment options, and they may even have money-saving tips. Get your quote today! Dealing with engine problems and other mechanical problems that can harm your beloved vehicle
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