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Before an Illinois buyer hands over the total sum required to purchase an auto warranty, they should ask how long the company providing the policy has been in business. Companies that have only been in business for a short time may not be able to handle claims easily and smoothly, or they may not have the financial resources to pay for large claims submitted. Businesses that fold soon after being established are an unsafe investment for the policyholder, as there will be no one around to pay claims except for the one who bought the policy. A reputable business will have been providing auto warranty services for at least ten years.
BBB accreditation is also an important factor when determining if the business is legitimate and going to be around to pay the claims. In order to be in good standing with the BBB, a company is required to respond quickly and in good faith to all customer claims. Auto warranty companies that have an A rating with the BBB have already demonstrated that they make good on the policy agreements they have issued. It is important to check all auto warranty companies with the BBB before purchasing a policy from any particular one.
A buyer should also ask how the claims will be paid. Businesses who cut the policyholder a check could be asking the individual to pay the repair shop first, then wait for claim processing to issue a check that will arrive through the mail. This can be a financial quandary for many people who are paying the $10,000 up front for an engine replacement. A far better policy is for the auto warranty company to pay the mechanic immediately upon notification that work has been completed. Many mechanics in Illinois prefer to receive instant payment via credit card from the company than to receive a check. It is important to understand payment terms before choosing a policy.
Auto warranties can be a safeguard against expensive repairs; a buyer just needs to do a little research first.
Auto Warranty In The News
DALLAS, Feb. 11, 2019 /PRNewswire/ -- The Amynta Group, an industry leading group of warranty, managing general agent and specialty risk companies, today announced that Adam Pope, President of its War...
Published: Mon, 11 Feb 2019 08:56:00 GMT
DETROIT (Reuters) - Auto leasing and financing company Xcelerate said on Thursday it has launched the first U.S. third-party extended warranties for electric vehicles, including those of market ...
Published: Thu, 14 Feb 2019 09:17:00 GMT
Skoda Shield Plus offers extended warranty for 5th and 6th year or 1,50,000 ... Zac Hollis, Director - Sales, Service, and Marketing, Skoda Auto India Pvt Ltd said, "Skoda Shield Plus is a unique offe...
Published: Tue, 19 Feb 2019 04:52:00 GMT
In a bid to adhere to the VW Group's India 2.0 plans, Skoda Auto India has introduced a new six-year warranty package across its range of cars in the country. Models like the Rapid, Octavia, Superb an...
Published: Tue, 19 Feb 2019 02:22:00 GMT
Is the As-Is a standard practice on a used car" It is common practice for used cars to be sold "as-is" especially if they are beyond their warranty period, but that doesn't seem to be the ...
Published: Fri, 15 Feb 2019 06:11:00 GMT
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