Where is the best place to get an auto warranty today? Many car owners love that new-car feeling - until their manufacturer's warranty runs out and something breaks, leaving them to pay the unexpected repair cost. Others purchase used but still want the assurance that a car warranty provides. This is where extended vehicle service plans come into play. Since you never know when something will need to be repaired, having such a policy for your car may be just what you're looking for. If paid monthly, these plans can provide an affordable way to deal with costly fixes.
Great
olive offers a monthly subscription model for those who want to pay over time for an extended vehicle warranty without the surprise bills of a repair. They provide coverage in all 50 states and meet requirements for California's Mechanical Breakdown Insurance.
It's all online here
To get a free quote for your car protection plan, olive offers a 100% online option. Just click on the button, provide your car's year, make, model, trim, fuel type, and mileage. Next they ask for your contact information (phone number is optional) and then provide an estimate for you. Based on the deductible you want ($100, $250, or $500), you can change the monthly cost for each of the three available plans to immediately get a revised price quote. After you've decided, add to cart and then choose between paying monthly or annually - but there's no discount for paying annually. You can then confirm your information, include VIN, and pay for your plan. (Keep in mind that this monthly fee will continue to be billed until you reach the end of the three-year term or cancel, so that can add up.) Once you select and activate your plan, your rate is locked in for the term of the contract. Terms for the plans are 36 months or 160,000 on the odometer, though they can be canceled at any time you choose.
No industry-standard waiting period
One thing that makes olive stand out is the fact that there is no waiting period before you can make a claim. olive says, "Buy today. Covered tomorrow," unlike most auto warranty plans which have a standard waiting period before they will cover work on your vehicle. Additionally, there is no inspection required prior to coverage. This is the only company we reviewed which uses this business model.
Easy-to-understand coverage in three levels
Choose from three levels of coverage at olive: complete care, powertrain, and powertrain plus. The website features an easy-to-read chart comparing the three plans so you can quickly decide which one is your best option. olive boasts that there's no fine print or surprises with their plans. Also, there are no yearly mileage limits, so drive as much as you need to without concern that you'll void your contract. As an added perk, rental car benefits and towing reimbursement are included.
Not for older cars or rideshare vehicles
Including most vehicles up to 10 years old or 140,000 miles, olive helps you get coverage for a new or used vehicle, including luxury brands. However, cars used for work, delivery, or rideshare are ineligible for coverage by olive. They also won't provide plans for modified cars or those with title problems.
Choose the shop and start a claim
Any repair shop that is ASE-certified may be used to do the work you need on your vehicle. Alternatively, olive has a partner network if you'd like to use someone they recommend. For claims, olive handles the payment to the repair shop. Just let them know you have coverage and have the repair shop contact olive before starting repairs. You only pay your deductible and any non-covered items.
Transfer your plan when you sell
If you decide to sell your vehicle while your olive policy is still active, you can transfer the warranty to the new owner. They say this increases the resale value and provides peace of mind to the next owner, making for a win-win situation.
Building a solid reputation
The BBB has accredited olive and rated them an excellent "A+", with less than a handful of complaints in the past year. Nearly 600 reviews for the company rank them with an average of 4.1 out of 5 stars. Reviews note that representatives are knowledgeable and terms are easy to understand. One person noted that his mechanical issues were quickly resolved with his olive warranty. Negative reviews mention denials due to pre-existing conditions and claims process taking too long.
A great choice
While not every vehicle will be covered by olive, the ones that are will receive a straightforward, highly-ranked service plan. With monthly payment options and an online-only business model, olive earns their spot near the top of our list of recommended auto warranty providers.
Continued from above...
Many car owners love that new-car feeling - until their manufacturer's warranty runs out and something breaks, leaving them to pay the unexpected repair cost. Others purchase used but still want the assurance that a car warranty provides. This is where extended vehicle service plans come into play. Since you never know when something will need to be repaired, having such a policy for your car may be just what you're looking for. If paid monthly, these plans can provide an affordable way to deal with costly fixes.
While many consumers realize that they can purchase one of these extended warranty plans at a dealership, savvy ones know they are also available for private purchase - not just at the time the car is bought, but also anytime you feel you want some protection from the high costs that can result from a mechanical failure.
The key is to think about whether or not the policy is worth what you're paying, what's excluded, and the overall coverage provided. Unfortunately, many policies have so many exclusions that their policyholders don't get the benefits they thought they were paying for. On the other hand, reputable companies provide plans that are excellent investments to give you peace of mind and help you out in the case of a major repair.
Plans vary by tiers of coverage and provider, but most auto warranty plans don't cover the little things like an oil change or new brakes. Think about if you want to simply cover the powertrain or if you're hoping for extensive bumper-to-bumper protection. Make sure you maintain the vehicle as directed by the manufacturer's schedule of service, too. If you don't, you may void your auto warranty. Pre-existing conditions are not covered, either, and there's typically a waiting period before they will pay any claims.
When comparing auto warranty companies, there are many factors to consider. We suggest making sure to consider these first:
At Top Consumer Reviews, we know that unexpected breakdowns can lead to costly repairs and financial hardship. If you're considering an auto warranty plan, we want to help you find the best ones for your personal situation. That's why we have rated and ranked these providers so you can choose the one you prefer to help you get back to driving when you encounter various bumps along the highway of life.
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The Basics of Auto Warranties
Cars are expensive investments, whether you like to purchase new or pre-owned. In protecting that investment and to avoid future repair expenses on your car, you may want to consider purchasing an auto warranty.
Most new and some used cars are covered by some sort of warranty when purchased. For example, new cars are usually covered by a manufacturer's warranty. These warranties vary greatly and are limited in duration. They may cover a variety of repairs until either a time limit or mileage limit such as three years or 36,000 miles. Once you reach that time or mileage limit, the warranty will either totally expire or much of what it covers will be void.
Some manufacturers also offer various program warranties on specific used or pre-owned cars, usually called "certified used" or something similar, that extend the original manufacturer's warranty or parts of the warranty.
If you plan on keeping the car past the life of the manufacturer's warranty, you may want to consider purchasing an extended warranty. Extended warranties are insurance policies against expensive, unforeseen repairs. In essence, extended warranties are actually service contracts. They cover expenses incurred that your warranty doesn't cover.
Unlike manufacturer's warranties, extended warranties are purchased separately from your car. They can be purchased either through the original manufacturer or through a third-party, independent warranty company. In some cases, you'll receive offers to purchase extended warranties in the mail or over the phone from the manufacturer just as the original manufacturer's warrantee is expiring.
Extended warranties are all different. They each differ on what repairs are covered, how much is covered, duration of the coverage and cost of the warranty. Before purchasing any extended warranty, determine what is still covered on the warranty you possess, determine how long past the life of the warranty you'll keep the car, what you want covered and for how long.
When researching the details of the warranty you want to purchase, look for information on the policy's deductible, whether the policy is transferable if you sell the car and whether repairs can be done anywhere or only with specific shops. Also, look for specifics on what is covered and what is not. For instance, does the warranty cover breakdown of parts as well as wear and tear? A warranty that only covers breakdown requires the part to break before the warranty will pay to replace it. A wear and tear policy will cover parts that need to be replaced because they are too worn to work efficiently.
Purchasing an extended warranty can be a smart investment. Don't forget to research the warranty specification and the companies offering them online before making the purchase.
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