Warranties – What are They and are They Worth It?

It is no secret that motoring can be a huge expense so it is understandable for motorists to want to find ways to reduce their costs. One area of motoring which some motorists try to make savings on is warranties – while this might seem like an unnecessary expense, it could actually end up saving you a fortune.

Here is all that you need to know about warranties.

What is a Warranty?

A warranty is a form of cover which will cover the costs of any electrical or mechanical breakdowns that you experience, including the costs of both parts and labour. If you have a new car, it will come with a manufacturer warranty which usually lasts for the first three years or 60,000 miles.

Once this warranty has expired, you could then drive without a warranty in place but you would be responsible for the cost of any repairs if you have a breakdown which can be costly, particularly with certain types of car that have expensive replacement parts. Alternatively, you could take out an extended warranty from a specialist like Warrantywise – these are often flexible and can be tailored to your needs.

Do I Need An Extended Warranty?

So, the big question is whether or not you need an extended warranty. While it may seem like an unnecessary cost, you will find that automobiles can break down at any moment and they are highly complex machines. This also means that they can be incredibly expensive to repair so having to foot the bill can be a nasty shock in addition to the frustration of being left carless for a short period of time.

Having a warranty in place ensures that you have financial protection so it can help to save you a fortune if you experience any difficulties with your car. In addition to this, it can also provide important peace of mind knowing that you are protected so that you do not have to worry when you are behind the wheel.

How to Choose a Warranty

Much like finding insurance, you need to shop around and know what to look for when looking for an extended warranty. Typically, it is best to opt for a specialist as opposed to from a dealership because you can get the best rates, flexibility and better customer service. Additionally, specialists often have a range of other warranties that are worthwhile, including home warranties. The key aspects to look out for are claim limits and excess charges and you should always read the terms and conditions (as with any agreement).

As you can see, warranties are a smart form of protection and could help to save you a fortune. This is why you should always arrange an extended warranty as soon as the manufacturer warranty has expired so that you always have protection when behind the wheel.