Protecting vehicles and keeping them on the road is an entire industry within the automotive industry. There are many different insurance agencies, car repair services, and warranty providers, all who aim to help drivers keep their cars operational. Up until recently, extended warranties were a little hard to come by. But thanks to a new insurtech company, it’s now easier than ever to get an online quote for an extended car warranty. So while we wait for self-driving cars to come along and make all the roads perfectly safe, it’s not a bad idea to learn about extended warranties.
What are Extended Warranties?
An extended warranty is a warranty that you can take out on your car that extends beyond any warranty provided by the dealership. This warranty is there in case your car breaks down and needs repair past the point when your original warranty would cover it. For example, when you buy your new car, the dealer may cover repairs on certain items up to 10,000 miles. If you wanted coverage beyond this limit, you would then look for an extended warranty.
An extended warranty really comes in handy when your car needs major repairs. If something like your transmission breaks down on your car, this can be a costly expense to try and afford at a moment’s notice. With an extended warranty you’ll have a little peace of mind knowing some of the major problems your car could face will be covered.
Do I Need an Extended Warranty?
Extended warranties aren’t right for every situation, however. For example, you likely won’t need an extended warranty when you first buy the car, as it will come with a manufacturer’s warranty. You’ll want to make sure this is a sound investment for your own situation before making any decisions. To that end, NerdWallet offers some good advice:
“Consider waiving the extended warranty at the time of purchase. Then, as your car approaches its third birthday, look into the extended warranty. You’ll know two things by then that you didn’t when you bought the car new: how much you like it and how troublesome it’s been.”
How to Normally Get an Extended Warranty
The way you typically get an extended warranty is by calling up the company offering the warranty or by working through the dealership. Some dealers will offer extended warranties when you buy either a new or used car. You then have to decide whether you plan on having the car for that length of time, or if you plan to upgrade to something newer in a few years.
If your dealership isn’t offering an extended warranty that you like, or if you are getting your car from somewhere else, it’s still possible to get a warranty. To do this, you’ll want to find a third-party provider online. The problem is that most of these providers do not provide quotes right through their website. This means you have to go through the hassle of calling the company, talking to one of their representatives about the warranties they have available, then decide on the spot whether you want to accept the deal.
Olive Provides Online Quotes for Extended Warranties
A new insurtech company, called Olive, aims to make this process simpler. Through their website, you can enter information about your car and instantly receive a quote for an extended warranty. For example, let’s say you are looking to buy a Mercedes from a third party. The car is a little older, so you want to be sure it’s protected in case of a mechanical failure.
Through their website, you could get a quote for where to buy extended car warranty from Olive and see if that warranty works for you. If it does, you can have that coverage as soon as the following day. The whole point of this process is to make getting an extended warranty quicker and easier.
According to their website “Olive is shaking up the way, drivers look at extended warranties and protection beyond basic insurance. With frictionless online signup, convenient monthly payment plans, and instant coverage, Olive provides the coverage you need, only a few clicks away.” Purchasing a car is typically a big financial investment and a good extended warranty can help to protect that investment.
Start Looking into an Extended Warranty
If you are currently driving a car that’s a few years old or looking to buy one, an extended warranty may make sense for you. You can get started by getting a quote through Olive to see if it’s something that makes financial sense for you. You may not end up using your extended warranty, but if the time comes where something major breaks down, you’ll be glad you had it.