An extended warranty, also often referred to as a service contract or a maintenance agreement, is a coverage plan that kicks in when the manufacturer’s warranty wears off. This plan covers the costs of things like replacement parts and the labor costs of major repair jobs.
But if you’re still not entirely sure if the insurance plan is worthwhile for you, we’ve listed the primary benefits of an extended warranty.
Appealing Savings
Many car owners are skeptical of extended warranties precisely because this service plan is purchased separately from the vehicle and primary auto insurance. Moreover, an extended warranty can’t substitute for your regular auto insurance policy.
But when considering the large saving potential that this type of service plan offers, it is worthwhile, even more so if you own a luxury vehicle.
Your Jeep extended warranty plan will kick in and cover the costs of major car parts and replacements while also covering the labor costs.
Valuable Benefits
Extended warranty plans also offer a few benefits that are often overlooked. These benefits include things like round-the-clock roadside assistance, reimbursement for rental car fees, towing services, and trip protection, to mention only a few.
Benefits may differ depending on the extended warranty company you opt for, so be sure to confirm the added benefits before purchasing a policy. While comparing benefits, it’s also worthwhile to compare other factors like extended warranty costs to get the best deal.
Flexibility
Extended warranty plans offer quite a bit more flexibility than the manufacturer’s warranty plan. For example, with most extended warranty plans, you can take your vehicle to any authorized auto repair shop. In contrast, the manufacturer’s warranty will only cover the costs if the car is repaired at a specific auto dealer.
Boost Resale Value
Vehicles depreciate in value over time, so most car owners do what they can to uphold value over time. Instead of letting your car’s value plummet, you should invest in the maintenance and car care. But another way to maintain vehicle value is to purchase an extended warranty plan.
Extended warranties can also boost resale value substantially. Because these service plans are transferable for a small fee, it’s easy to hand over your extended warranty when selling your vehicle. And this naturally pumps up the resale value.
Peace Of Mind
There’s genuinely nothing more valuable than peace of mind, which rings true for everything in life. An extended warranty will bring peace of mind because you won’t need to worry about the costs of major services and repairs later down the line. When your manufacturer’s warranty comes to an end, your extended warranty will kick in and offer even more protection.
The costs of an extended warranty plan are relatively pocket-friendly, especially when considering just how much the service plan has to offer drivers.
Whether you own a luxury vehicle or you’re thinking about buying a used vehicle, an extended warranty is always a great way to safeguard vehicle value as a driver and stay prepared for all the costs associated with car ownership.
Disclaimer: This content does not necessarily represent the views of IWB.