Your car is one of your biggest financial assets, and when you’ve spent such a large amount of money on something, you want to ensure it serves you well for the foreseeable future. One common method of doing exactly that is by retaining car repair insurance, or an insurance policy intended to help protect your sizable investment in your vehicle. Sometimes referred to as “extended warranty coverage,” repair insurance brings with it an abundance of benefits. Here are some of the top reasons today’s drivers are increasingly choosing this type of insurance policy.
It Covers What Regular Automotive Insurance Does Not
If you’re behind the wheel and take out, say, a stop sign, your regular auto insurance should help with repairs as long as you have comprehensive and collision insurance. If, say, your water pump blows during your drive, you’d be on your own without repair insurance.
It Helps Keep the Repair Industry Honest
This type of insurance policy covers the cost of many major repairs, and helps regulate the prices of major services as well. When a customer pays out of pocket, some mechanics tack on unnecessary expenditures or jack up the price of certain services. With repair insurance, it’s the insurance company who gets the final bill, and the insurance company who is responsible for determining if the mechanic’s estimate is or is not reasonable.
Car repair insurance is a great option for those looking to prevent owing one lump sum in the event of a major accident or issue. For more about policy specifics, contact your local insurance agent.