Most people will take out a car insurance policy as soon as they buy a car. In some states it is a legal requirement to have car insurance.
So why would you also take out Carchex coverage when you are already covered by your car insurance policy?
The answer is this? They do not cover the same thing!
Car Insurance
Car insurance pays out when your car has some sort of accident like accidentally backing your vehicle into a lamp post, or another vehicle collides with you at an intersection, or you parked on a slope by a lake and forgot to put the handbrake on and the car rolled into the lake.
If the cause of the accident is your fault, a comprehensive car insurance policy will pay all damages to your car and all damages to any third party (e.g., another vehicle or city-owned lamp post, etc.) and you just must pay your insurance policy deductible.
If the cause of the accident was not your fault, you don’t have to pay anything. The other party (or their insurance) will pay for the repairs to your vehicle and any items within the car that were also damaged due to the accident.
But if your car breaks down, your policy will not cover the repair costs to fix the problem.
Common Causes of Car Breakdowns
Some of the most common causes of car breakdowns are:
- A flat or faulty battery
- Damaged tires or wheels
- Wrong type of engine oil damaging the engine
- Alternator faults
- Starter Motor failures
- Overheating
These issues are not typically covered by car insurance but are usually covered by a car warranty.
Automobile Car Warranties
Most people who buy an auto warranty buy from the automobile dealer where they have bought their car.
This is usually done because of the convenience of just signing a few extra forms at the same time as completing the purchase details of your vehicle.
However, the policies offered by Automobile dealers are usually inflexible with no opportunity to design a car warranty that matches your specific needs and budget.
Often, if the dealer is organizing finance for you to make your car purchase, they will suggest adding the cost of the car warranty to the finance. This makes it easier for you to afford to buy the warranty, but you end up paying finance interest on the warranty cost as well as the car cost.
If you calculate in your interest costs, this can make the warranty extremely expensive compared to other available warranty’s.
Carchex Car Warranty
With Carchex you can get a quote at any time online and choose an affordable plan that best fits your individual needs.
When you have a claim, you can choose your own licensed repairer from a list of over 30,000 nationwide.
Claims are paid directly to the repairer, so you are not having to pay the repairer and then wait to be reimbursed.
Once you buy your plan you have a 30-day money back guarantee should you change your mind for any reason.
Most importantly, Carchex offers a range of plans to choose from to fit your budget, along with deductible choices. Some repair only major parts of the vehicle like the engine and the electrics, while others are more comprehensive.
If you wish, you can add benefits like Emergency Roadside Assistance, Rental Car Benefits, Towing Benefits and Trip Interruption Benefits. Be aware that these benefits are sometimes included in your car insurance policy, and you can’t claim off both policies.
Carchex also offers car insurance, so if you take both car covers with Carchex, you can be sure you don’t double-up on any of these benefits.
A car Insurance policy and a car warranty together provides you with the peace of mind that any expensive unexpected accidents or breakdowns won’t have you stuck in a financial hole without a vehicle and can be provided at a price that fits your budget.
