Wednesday, January 22nd
2025 Canadian Car Warranty Reviews
Olive
- Covers new and used vehicles up to 10 model years or 225,000km
- 3 plans to choose from
- Can use the mechanic of your choice
- Available in many provinces and territories
- "A” rated and accredited by the BBB
Olive, a newer name in the realm of Canadian auto warranty plans, is committed to offering you the assurance and peace of mind you desire. Specializing in mechanical breakdown coverage, Olive shields you from unexpected and expensive repairs, prioritizing convenience and savings for its customers. With a remarkable 59% of their clientele being first-time buyers, Olive's fully online model allows you to effortlessly manage your policy anytime, anywhere.
Easy-to-understand eligibility requirements
Olive's coverage plans span a wide range of auto brands, including luxury ones like BMW and Mercedes, and eligibility is straightforward. Your vehicle needs to be less than 10 years old and have racked up fewer than 225,000km. Pre-existing conditions also aren't covered (whether you knew about them at the time of sign-up or not). On a positive note, coverage starts the day after sign-up, with no vehicle inspection required, and you can easily transfer it to a new owner if you sell your vehicle.
May not be available in your province or territory
We do wish that Olive would come out and say in which provinces they do and don't offer warranty plans. Otherwise, it's just trial and error; since we always use Nunavut as a test case, we can tell you that there are no plans available to residents of that territory, at a minimum, nor in Quebec or Nova Scotia (two more random addresses we tried). Your best bet is to jump right to the online quote page before you get too excited about the options here.
3 plans to choose from
What are those options? There are three plans to choose from:
- Complete Care: A comprehensive plan covering major vehicle components, including engine, transmission, and various drive systems, among others.
- Olive Powertrain: Offering coverage for selected areas of the engine and various drive systems, excluding other vehicle components.
- Powertrain Plus: Positioned as a middle-tier option, this plan includes most components covered in the Complete Care plan, with some exceptions.
Coverage (and exclusions) are clearly spelled out
We recommend that you look at the Coverage page to see what's included and excluded for each tier of warranty protection. Click where it says Engine to get a dropdown of other vehicle systems (like Transmission or Instrumentation), and compare the checkboxes on each of the three plans.
You pick the mechanic
In the event of a breakdown, Olive allows you to choose any local service provider for repairs with no restrictions on mechanics. Your dedicated Olive Coverage Advocate guides you through the process, leaving you responsible only for the deductible and non-covered expenses. Olive covers the remaining expenses, including parts and labour, and even offers reimbursement of up to $100 for towing to an auto shop.
Fixed monthly cost
Olive's commitment to flexibility and customer satisfaction is evident in its easy cancellation policy, operating on a monthly fixed pricing structure. The price-lock guarantee ensures the agreed-upon price remains consistent throughout your subscription, with no unexpected increases.
Solid reputation
Olive's Canadian operations have a solid "A" rating and accreditation from the Better Business Bureau, with no complaints filed there. Third-party review sites consistently show satisfied customer reviews, averaging a 4.5 out of 5 stars rating.
Worth a look if you qualify
Overall, Olive has a few limitations that keep it from a higher ranking among Canadian car warranty options: it's not available nationwide, and for anyone with a car that's 10 years old or more, there won't be any coverage offered. But, as far as reputation goes, Olive is a great choice to look into if your vehicle qualifies and you live within their service area.
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Whether you're buying a brand new car or a gently used resale, the prospect of an extended warranty plan may be on your radar. An extended warranty could be a shrewd financial decision, to help you have a cushion against the inevitable costs of future repairs.
Are extended warranties worth the investment? From a reputable company, absolutely. We've all experienced the frustration of a major malfunction just as the manufacturer's coverage runs out - or, even worse, a mere few days after driving that "as-is" car off the used car lot.
Canadian Car Warranty FAQ
Continued from above...
But here's a nugget of wisdom: buying the extended warranty directly from the dealer might not be your savviest move. Dealers often slap on hefty mark-ups, and their coverage might not be as comprehensive or flexible as you'd like. Fortunately, Canada boasts several reputable auto warranty companies, providing stellar coverage at competitive prices.
Now, let's get into the nitty-gritty of what these extended warranty plans entail. Similar to car insurance, these plans range from covering just the major systems, like the powertrain, to offering comprehensive bumper-to-bumper protection, excluding only normal wear and tear. So, while they'll handle your in-dash electronics going haywire, don't expect them to foot the bill for your fresh set of brakes or wiper blades.
As you embark on the quest to find the ideal car warranty plan in Canada, keep these essential factors top of mind to guide your decision-making:
- Coverage. Make sure you're crystal clear on what's covered and what's not. Opt for a plan that offers you the most coverage within your budget.
- Service. Be aware of what you'll have to do to get repairs done. Is it required that you use an in-network mechanic, or is the repair shop of your choice fair game? Will you front the repair costs and turn in the receipts for reimbursement, or does the warranty company settle the bill directly with the mechanic?
- Reputation. What's the word on the street as you look into customer experiences? Are claims processed smoothly? Does the provider enjoy a solid rapport with both customers and mechanics?
- Price. How much will you pay for your auto warranty coverage? Is it a one-time lump sum or a monthly commitment? And, most importantly, how long before it kicks in - especially if your new vehicle still has a manufacturer's warranty lasting a year or more?
For a comprehensive rundown of your options in the Canadian car warranty marketplace, check out the reviews here at Top Consumer Reviews. Our experts have meticulously reviewed and ranked the best choices, arming you with the knowledge to pick the perfect plan for your vehicle. We're confident that your chosen warranty plan will provide the peace of mind that accompanies knowing you're covered when the unexpected road bumps appear!
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