Where is the best place to get a car warranty plan in Canada? Buying a car can sometimes feel like gambling. You're always wondering how long it will be until something goes wrong and the car needs a major repair. While you can't necessarily predict future events, many car buyers choose to purchase an additional extended car warranty to cover such expenses for a specified number of kilometres or model years.
Fair
US-based olive expanded into Canada in 2022 to provide vehicle coverage which protects them from breakdowns and unexpected auto repair bills. Deciding to use their profits for good, olive is part of Premiums4Good, an initiative that invests in environmental and social impact using a portion of premiums for education, sustainable energy, and more.
Monthly plans without yearly mileage restrictions
Offering month-to-month subscriptions, olive is committed to no monthly price increases, allowing clients to cancel any time. Unlike other warranties, there is no yearly mileage restriction on an olive extended warranty. As an added bonus, olive will cover your vehicle for up to another three years, 300,000 km, or 14 model years - whichever comes first. Coverage is good across Canada and within the continental United States.
Choose from a trio of options
There are three plans offered by olive. Complete Care is the most popular plan offered by olive, a comprehensive extended warranty plan. Powertrain Plus is their mid-range offering, while Powertrain covers the basics. All labour and parts are covered. If you need to be towed to a service centre, olive will reimburse you up to $100 for eligible repair visits. Pre-existing conditions are excluded from olive coverage, whether they are known or unknown. Deductibles are chosen when you get the warranty, to make sure it best fits your needs - and your budget. Their coverage is transferable if you decide to sell your vehicle, though you can also end the coverage at that time.
Most makes covered immediately, though it's not clear where in Canada
Covering most auto brands - including luxury brands like BMW and Mercedes-Benz - extended warranties from olive have no waiting period or inspection required. Their slogan "Click today. Covered tomorrow" is definitely a perk offered by this company. Autos up to 10 years old or 225,000 km may be covered, which is slightly more than others offered. Disappointingly, nothing on the olive website showed which provinces and territories were able to be covered.
Promising to be a different kind of company
olive says they do things differently - from their spam-free, no-haggle, and no-pressure guarantees to allowing customers to choose the coverage, deductible, and the repair facility they want, they put you in the driver's seat. To file a claim, find a repair shop and pay the deductible, then they will pay your bill so you can relax and get back on the road again. There is a phone number given for filing claims on weekdays, and the website says emergency repairs can be filed the next day.
Online option for quotes
They say everything you need to do to get coverage can be done online. However, when we tried to get a rate, the page could not be reached, and no links were found elsewhere on their website. We tried this over numerous days and an email to the company requesting help was returned because it couldn't be delivered. According to the page on their US website, you can get a quote in a minute or less by providing your vehicle's year, make, model, trim, fuel type, and mileage. Then give your contact details - phone number is optional but email is required to see your price. The page breaks down your plan options and costs, where you can choose between three levels of deductibles: $100, $250, and $500. Considering that this is a monthly fee paid for years, the costs can truly add up, so keep that in mind.
No complaints but no Canadian reviews either
Calling themselves "the (virtually) 5 star auto repair coverage," olive is accredited by the BBB and has earned a stellar "A+" rating with zero complaints. While the website and some platforms have reviews for the US side of the company, there is not much to be found anywhere from Canadian car owners. One review platform has them at 4 stars out of five - a bit below their self-proclaimed rating - from nearly 600 reviews, with around three-quarters of them giving the company five stars. While pleased customers rave about clear terms and sign-up process, negative experiences mention difficulty getting work approved in a timely manner and being denied for their definition of pre-existing conditions. One reviewer warns "run, don't walk away from this company."
May not be the best option
When we last looked at olive, they fared much better. However, the lack of Canadian customer reviews and availability of information give us no choice but to place them further down on our list of recommendations.
Continued from above...
Buying a car can sometimes feel like gambling. You're always wondering how long it will be until something goes wrong and the car needs a major repair. While you can't necessarily predict future events, many car buyers choose to purchase an additional extended car warranty to cover such expenses for a specified number of kilometres or model years.
When purchasing at a dealership, an extended warranty plan is often presented as something to consider. Did you know that you may qualify to get one even if you get your car from a private sale? Getting a car warranty could be a shrewd financial decision, depending on a number of factors, as purchasing a policy can help cushion you from major repair costs. The real question every driver needs to consider though is whether or not these policies are worth the financial investment. Many can be extremely pricey and list pages of exclusions. However, if you purchase from a reputable company, these extended warranties are absolutely worth the investment you'll make.
Did you know that you don't have to buy your extended car warranty from the dealership? Convenience aside, dealers can mark up their plans and often provide less coverage for more money. Savvy shopper that you are, you're going to check out independent companies that sell these plans so you can get one on your own.
Canada is home to several reputable auto warranty companies which provide complete coverage at great rates. Some companies are based in Canada while others simply service the country but are based elsewhere. One warranty company asserts that Canadians should consider consumer protection laws and be certain they are covered by a Canadian company in case of a dispute, though the choice is completely up to you.
Keep in mind that these plans can vary widely so you'll have to compare apples to apples when you look at prices. What repairs do you want to cover? Some people choose just the powertrain while others seek bumper-to-bumper protection. Electronic components will be included in many plans, but you're not going to get new brakes or other normal wear-and-tear items covered by a car warranty.
One thing you'll need to keep in mind with many car warranty plans is that you must maintain your car according to the manufacturer's schedule and be able to show a record of service from licensed repair facilities - meaning you can't change your own oil or brake pads if you want to qualify for coverage. In fact, some policies are voided if you work on your own car.
Also note that pre-existing conditions are not covered by most car warranty plans, even if you didn't know there was something wrong with your automobile. Some companies will require an inspection before they'll cover your car, while others suggest you have one done yourself.
There are many factors to consider when comparing extended auto warranty companies. Here are the top ones we keep at the forefront of our search:
At Top Consumer Reviews, we want to help you to be protected from costly repairs and unpleasant surprises. We've identified the most popular Canadian car warranty companies to review their services and rank them so you can choose the best option for your situation. It's our hope that this information allows you to keep driving smoothly once you encounter the inevitable breakdowns covered by your extended warranty.
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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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