Monday, December 5th
2022 Auto Warranty Plan Reviews
Olive
- Extended car warranties for most makes and models
- "A+" Better Business Bureau rating
- No inspections or waiting periods
- Transferable plans
- Interest-free plans available
- Cancel anytime
Olive was built to give customers peace of mind with their vehicle protection plans. Their mechanical breakdown coverage takes care of things like your engine and transmission if something goes wrong. They've created a wave of new customers within the vehicle protection market with over 59% of their customers being first-time buyers. Olive is operated by Repair Ventures, LLC, who carries an "A+" rating from the Better Business Bureau.
How it works
In the event that your car breaks down, you can head to your local service provider to get repairs taken care of. From there, you'll contact your Olive Coverage Advocate. You'll pay the deductible, plus any non-covered items, and then they'll pay the rest. Both parts and labor will be covered by your Olive plan. If you have to be towed to an auto shop, Olive will reimburse you up to $100.
Three plans to choose from
There are three plans to choose from through Olive. They include:
- Complete Care: covers all major parts of the engine, cooling and fuel, transmission, four-wheel drive, all-wheel drive, front-wheel drive, rear-wheel drive, front suspension, rear suspension, steering, braking system, anti-lock brakes, air conditioning, electrical, instrumentation, power group, luxury group, engine emissions, and safety systems.
- Powertrain Plus: covers most of what is covered by the complete care plan minus certain parts like oil filter adapter housing, fuel pressure sensors, engine oil cooler, thrust arms, and more. It's a middle-tier plan that gives you most of what you need, but isn't as extensive as the complete care plan.
- Olive Powertrain: covers a few areas of the engine, transmission, four-wheel, all wheel, front-wheel, and rear-wheel drive, and nothing else.
A clear chart is available on Olive's website to give the specifics of what is covered under each plan. We highly recommend reading through it to decide which plan is right for you. For most vehicles, the Powertrain Plus plan will likely be the most reasonable.
Skip the inspection, get covered immediately
The coverage plans through Olive cover the majority of auto brands including luxury brands like BMW and Mercedes. As long as your car is less than 10 years old and has under 140,000 miles, it will most likely qualify. However, if there are any pre-existing conditions with the car, they won't be covered. Coverage becomes active the day after you sign up. No inspection is required! If you go to sell your vehicle, you can easily transfer it to the new owner as well.
Spend little, save lots
Plans typically range from $30 - $80/month depending on the age, mileage, make, year, and model of your vehicle. You'll receive a quote in 90 seconds or less by providing your vehicle information and basic personal details on Olive's site. They remind customers that it's a good idea to have an extended coverage plan for your car, truck, or SUV since the average cost of an engine replacement is over $5,000. That's just one of the many parts of a vehicle that can break down, so you will likely save a lot of money by signing up with Olive.
Cancel anytime
If you change your mind about your Olive plan, you can cancel it at any time. Since you pay a monthly fixed price, it's not hard to end your subscription.
Highly recommend
Understanding your options with Olive is easy with their professional, transparent website. In the event you need to contact customer service, they provide a phone number and email address. Their customer satisfaction ratings are great and we are happy with their "A+" Better Business Bureau rating. They've been featured by news outlets like Fox, Google News Lab, NBC, Yahoo!, ABC, and more. This is a reputable company that provides affordable, reliable auto warranty plans and we highly recommend their services.
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Where is the Best Place to Get an Auto Warranty Plan?
When you purchase a new car, an auto warranty is usually an optional purchase along with it. This is a good choice for vehicle owners who want to spend a little extra each month or in one lump sum for peace of mind about dealing with potential vehicle issues down the road (no pun intended). Generally, a warranty extends for a certain number of years or until the vehicle reaches a specific number of miles.
Heaven forbid you have an engine blowout, faulty brake system, electrical issue, or steering malfunction as you're cruising along in your car. If this were the case, a big concern for you (besides your safety) would be the thousands of dollars it could cost to get these major issues repaired. Whether your vehicle is brand new or a few years old, unfortunately things go wrong with cars that you can never predict.
Auto Warranty Plan FAQ
Continued from above...
Auto warranties make it so that vehicle owners pay a contracted price much lower than the total cost of a major repair to ensure that if a big issue arises, the costs for fixing the vehicle will be covered. Some major repairs that might be covered under warranty include transmission, engine, powertrain, heating/cooling, and other necessary vehicle parts.
Before choosing an auto warranty plan, we suggest you keep the following criteria in mind:
- Price. Consider the plans of a few different auto warranty plans. How do they compare cost-wise? Make sure the price of the plan will be worth it if you are paying for the warranty a few years before needing to get repairs covered.
- Coverage. Make sure you know exactly what is covered under the auto warranty. You don't want to deal with a common vehicle issue and find out it wasn't included under the warranty you've been paying for.
- Reputation. How smooth is the process for submitting a claim? When you have an auto warranty claim, will they stand behind you? Have they been in business with happy customers long enough for you to know they will still be around for a while?
To help you identify the best auto warranty plan, TopConsumerReviews.com has reviewed and ranked a variety of options. We hope this information helps you find the auto warranty plan that fits your needs!
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