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Investing in an asset that depreciates requires extra care and maintenance to keep the item in check. In
this context, we are talking about investing in cars. That can either be a used car or a brand-new car.
Cars are assets that lose value in the long run compared to other assets that gain value, except certain
limited and old cars. When considering investing in a car, be sure to put through the idea of that car
depreciating in quality and value. There are working solutions that can protect your investment through
all huddle and hardships. We are talking about a car extended warranty and car insurance.
Extended versus Insurance
Remember, there is always a reason behind the failures and faults in our cars. They include; Mechanical
damages, electrical faults, and accidents. These are threatening factors that are responsible for the
depreciation of our cars. Fortunately, measures are implemented to counter the non-ending
misfortunes cars are exposed to. These are; extended car warranty and car insurance.
However, to date, some still need to understand the difference between the two. This is no surprise
since they perform similar tasks. This publication clearly outlines the difference between an extended
warranty and car insurance.
Extended warranty.
An extended warranty is an agreement between the car owner and the selected provider or dealership.
The agreement states that if the car gets faults and the warranted parts are involved, all expenses are
relieved from the car owner. Extended car warranties usually come into the game immediately after the
car’s original warranty expires.
The original manufacturer’s warranty needs to be comprehensive and only cover the vehicle briefly. The
real of an extended warranty is that it can be purchased any moment one thinks of keeping their car for
long. An extended warranty works exactly as the factory warranty, only that its coverage is diverse and
extensive. Besides, customers get a wide array of coverage plans, with some providers offering custom
and flexible plans.
Extended warranties get purchased directly from dealerships or through third-party vendors. Below are
the different classifications assigned to extended warranties;
- Powertrain extended warranty- This warranty covers parts that are involved in power and thrust
production. That is the engine, transmission, and other drivetrain parts. - Bumper-to-bumper warranty- Coverage for most components in a car and only list the parts that
are not covered. - Corrosion Policy- This policy is offered to shield the car from rust.
Extended warranty prices range from $1,500 to $4,000, depending on the plan selected. Note that some
parts don’t get covered by extended warranties. They include wear and tear parts such as tires and
brakes.
Benefits of an extended warranty
Peace of mind
Does your current state of mind peaceful? Well, perhaps not, and one reason behind that needs to beg
of an extended warranty in sight. An extended warranty is a great deal that helps in combating all
sudden and surprise failures that get costly. The extended warranty provider comes to the aid of car
owners when such events happen. This works well for the car owner, securing their peace of mind.
Saves costs
Are you looking for a perfect way to save maintenance costs? Look no further because extended
warranties just got you sorted. Given the high cost of living, car maintenance is also no exclusion to the
high living costs. Glady, car extended warranty plans are in to save the day. In events of damages, the
money that would have rather been directed toward repairs and replacements gets saved.
Car Insurance
Car insurance operates in an almost similar manner to extended car warranties. Insurance is an
agreement between a car owner and the provider (insurance company). The agreement is about paying
a certain premium against any damage resulting from collision and other events such as theft and
natural catastrophes. The huge difference between insurance and an extended warranty is that
insurance does not cover for damages resulting from mechanical and electrical damages.
The good side about a car insurance premium is that it does not only covers car damages alone. Check
out the following coverage that gets offered by insurance providers;
Medical Payment Coverage
This coverage is allocated to the drivers, and the passengers injured and need medical expenses cleared.
Collision coverage
Special coverage is set to cover repairs when your car collides with another.
Liability coverage
Unique coverage that covers someone else's medical bills or property damages in an event where you
are responsible for the mess.
Conclusion.
A car is one of the most precious assets that need super care and protection. The possibility of salvaging
it from that is dim if exposed to threatening risks. Fortunately, we now have an extended warranty
alongside car insurance. When these two work close to one another, you can consider your car safe.
For further information on extended warranties, get in touch with our team via phone at +1-866-660-
6444 or pen down an email at info@a-protectwarranty.com.