Money For Lunch – An Extended Warranty Process Without Frustration

An Extended Warranty Process Without Frustration

August 6, 2013 3:40 PM0 commentsViews: 112

Extended warranties for automobiles have been a source of pain and frustration for years. From pricing that’s too confusing to coverage that never lives up to its promise and a sign-up process that leaves drivers scratching their head, extended warranties have delivered the ultimate self-inflicted pain.

extended-warrantyWhen it works, the coverage and warranty can save people a lot of money. There are success stories of drivers saving money through the use of their extended warranty. The problem is that these successful cases are few and far between.

Manufacturers offer their own extended warranties and third-party providers offer coverage sold through dealerships. Sometimes sold at the time of purchase, and sometimes sold right before the initial warranty expires, there are many choices for consumers.

A major car manufacturer, for example, offers four different levels of service that vary significantly in what’s covered and rates. Some of the coverage options address areas such as the engine and transmission, while additional levels can cover things like the AC and brakes. The options can seem endless to consumers.

And this is where the problems and frustrations begin.

Why so many options? Why not have just one package that’s as close to bumper-to-bumper coverage, offered at a great low price that gives the driver assurance no matter what may happen to the vehicle. This way, drivers can have piece of mind that their vehicle investment is covered, without absorbing so much confusion and financial pain.

But back up even further than that. The starting point for the entire process is where the true frustration begins. When drivers attempt to sign up for coverage, extended warranty providers make it nearly impossible to get a price quote. The Internet has brought price transparency to virtually every industry except for extended warranties.

But a new player in the space hopes to bring about radical change to the extended warranties space, similar to what Progressive did for car insurance and Edmunds.com for car shopping. Enter ForeverCar.com, started by Russ Carpel, Nag Odekar and Mark Hodes, who themselves were frustrated extended warranty shoppers and decided to do things their way. The service promises a simple sign-up process that includes a price quote in less than sixty seconds, with as close to bumper-to-bumper coverage that consumers will find backed by Assurant.

The coverage is available for cars that have no more than 90,000 miles, and the contract can be extended out to 125,000 miles. This is important because people are driving vehicles longer today. And while they’re lasting longer, they’re more expensive to fix as a result of all the new technology and gadgetry that’s included in today’s vehicles. Unlike other service coverage, customers won’t have claims frustrations with ForeverCar.com because critical technology and components like GPS and voice navigation are included in the coverage.

It’s important for drivers to determine if an extended warranty is right for them. Eliminating the roadblocks and frustration can go a long way toward helping consumers make the right, informed decision.

 

 

 

 

 

 

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