When it comes to insurance most people take the coverage for fire, accidents, and other mishaps but forget about mechanical breakdown insurance coverage which is very important and gives you a peace of mind. This is because the mechanical problems that pop-up regularly are already taken care of.
It saves you some cash and it is provided by different insurance companies. The regular car insurance does not cater for mechanical breakdown and maintenance, thus the need to purchase this insurance coverage separately.
What is Mechanical Breakdown Car Insurance?
This is insurance coverage that incurs the cost of car repairs that exceed the manufactures warranty that is not a result of an accident. The insurance company may give additional coverage to complement the insurance cover. This insurance coverage is offered by an insurance company that regulates the standards and claims.
Why Buy Mechanical Breakdown Insurance?
There several reasons why we should purchase this insurance coverage, this includes;
- Has many parts and systems
- It is Pocket-friendly
- The car can be repaired anytime you want it to.
- You can cancel it and lose the money or it can be transferred to a new car owner if you sell the car.
- You can pay for the insurance at intervals thus you don’t have to pay a large lump sum of money.
What Mechanical Insurance Covers?
There are several parts that this insurance will cover this include;
- The engine parts such as water and oil pump
- Brakes
- Exhaust
- Electrical parts,ex: alternator
- Drivetrain
- Transmission
The insurance coverage can also extend to the steering, fuel system and air conditioner. Through this, you are aware of what you are purchasing and you are able to determine if it is worth it. This gives you a clear picture of the services that you will receive from the insurance. I will suggest that to the young car drivers must take this insurance.
The Cost of Mechanical Breakdown Insurance Cover
The price of this insurance coverage varies according to the model of the car and the amount of time you want to take the coverage. Older cars cost more to cover. It doesn’t require your driving record or any other personal information. It offers flexibility in terms of payment and the time you will keep the coverage. It doesn’t force you to pay fully for it when buying a car which helps you in saving your money.
This insurance cost may be expensive but worth it and affordable as you are not required to pay for it immediately. It is also a choice you may purchase it or not depending on your preference.
Is Mechanical Breakdown Coverage Important for a New Car?
This depends on several factors such as the period of time that you may consider keeping the car. If it is a long period of time this coverage is very important as it will cater for any mechanical damage that will occur during that period.
This will save you some cash and help you in repairing the car in case of an unexpected mechanical breakdown. This acts as a savior when your car breaks down and you don’t have money that you had put aside for the repair.
This insurance coverage saves you a lot of money especially if you use your car on most occasions or on a daily bases. This helps you in avoiding any inconveniences and using a lot of cash when it comes to repairing.
It enables you to have other plans and to plan for your money as you don’t expect any added cost when it comes to repairing your car.
Some Questions That You Should Ask Before Buying a Mechanical Breakdown Cover
When purchasing any product you need to ask some questions in order to get a better understanding of the service and how to go about you. These questions are very important as you get all the information that you require and thus you are able to weigh its value.
There several questions that you need to ask prior to buying this insurance cover this include;
- The available exclusion of the coverage
- What is the deductible and how it is applied when there is a claim
- The process of making the claim and how to get compensated
- Is the insurance coverage transferable to another person if the car is sold
- The costs that are covered
- Is there any upfront payment made
- The meaning of wear and tear according to the insurance company
- If all the labor costs are paid for.
- The approved repair shops that are approved by the company for repair
- What will happen in case of an emergency breakdown happens and instant repair is required.
- How long you can renew your coverage. Some companies have some restrictions, after some years and some miles you cannot renew your contract.
Additional Features of the Mechanical Breakdown Coverage
Some insurance companies offer added benefits that reduce the cost of maintaining your car. They can offer services such as regularly checking on the mechanical system of your car and servicing the parts. This will keep your car in good health for a longer period of time.
Benefits of Having Extended Car Repair Insurance
There several advantages that you will acquire by purchasing this insurance cover, this includes;
- It keeps the mechanic honest when it comes to payment. Some mechanics are used to over changing innocent clients which makes repairing of the car draining. Through this insurance coverage, the insurance company assess the level of damage and approximates the cost of the breakdown thus there is no overpricing.
- You receive quality services when repairing the car as the insurance company chooses the best mechanics as it does not want to keep on incurring the same cost. This means that your car will serve you for a longer period of time without breaking down thus convenient. You will go for repairs rarely as when one thing is fixed it is fixed permanently.
- The insurance company may offer some more services thus reducing the cost of maintaining the car. This helps you a lot as you don’t have to keep paying for the same services differently.
- It is convenient and gives you a piece of mind as you don’t have to keep stressing on the action to take in case of a breakdown. Most of the insurance companies repair your car instantly after the repair. If your car breakdown when you are traveling it will take a little time for it to be repaired.
Disadvantages of Extended Car Repair Insurance
Everything has its pros and the extended car repair has some pros which include;
- The insurance coverage may be a little bit costly. The cost of purchasing this insurance cover is high although its benefits are more and worth the cost.
- Some insurance company denies you the freedom of choosing the mechanic of your choice. They have their own mechanics or have approved few repairing companies. This means that your car has to be repaired in these companies only.
- It doesn’t cover all the car repair services as it specializes in mechanical parts and thus if the car gets damaged on other parts that are not included in the mechanical system you pay for them differently. It doesn’t cover mechanical damages that are as a result of an accident as that is seen to be an accident insurance cover. This means that you need to purchase other insurance coverage or incur other costs.
Although this pro seems to be a bit draining it is good to know about them from such an unbiased source as they give you all the information that you require and doesn’t focus on the positive side only but also on the negativity. This helps you to understand what insurance cover to acquire for what reason.
The Extended Insurance Cover Cancellation
There is a process that is followed when canceling the insurance cover but varies from company to company. This is because different companies differ in the way they carry out their work.
In all the insurance companies one is given the freedom of canceling the insurance cover in case the car is sold to another owner or there other reasons for the cancellation. The client does not incur any cost due to the cancellation.
When it comes to extended coverage insurance coverage it is a good deal as it is budget protecting and provides quality services. You can take it even when you have car insurance as it offers different services. If you don’t have money to keep on paying for repairs this is the best option.
We depend on our cars mostly as we use it when going to work, going shopping, having fun with friends, taking kids to school and in many other functions. This is why it is important to take care of your car and maintain it for better services and to extend its lifespan.
It also prevents the car from losing its quality and you can sell it for a good price as it reduces its depreciation rate. You also have less trouble with the authority as your car will always be in good condition.
