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Why You Need Auto Repair Insurance

Madhurjya Bhattacharyya
You need to spend a lot of money from your pocket, whenever a car breaks down, isn't it? Auto repair insurance helps you to save that by paying for the repairs of your car. Read on to understand the advantages of opting for such coverage.
Each time your car breaks down, does the repair cost make a hole in your pocket? If yes, why not go for auto repair insurance. Whenever your car breaks down, the insurance companies pay for the repair costs. You just need to pay a premium every month, which most people prefer than paying a lump sum amount at one go.
There are numerous such policies like mechanical breakdown insurance, extended warranty insurance, etc. Depending on which one you opt, payment for repairs would be done as per the terms and conditions of the policy.
This insurance differs from other auto insurance, as in this, the car need not be damaged as a result of collision. Many times, the car just breaks down due to wear and tear of some part or the other, and this is where it can help you.

Things to Consider

While thinking of buying such insurance, ensure that you get the proper repair estimates, and go through what other people have to say on the services of a particular company. It would help you to find out the best deals that fit in your needs.
Today, there are several websites, where actual people comment on the services offered and their benefits/drawbacks. Additionally, you can go through reputed magazines, which provide details about them. You can individually search for a company and see what people say. You can just enter the query to search for a list of companies online.
Once you have found a list, you can add the word 'review' after the name of the company and go through what people have to say. Moreover, there are several websites, which are solely dedicated to different aspects of cars.
Hence, these websites have forums and message boards, which would be helpful in your search. In addition, you can ask for an insurance quote from different companies, and understand the deals they offer.

Insurance for Older Cars

Many times, people are apprehensive about insurance in general. Usually, car repairs are required by owners of older vehicles as they are more prone to breakdown. The auto insurance which you use generally while buying a vehicle does not cover repairs, even though it may include collision coverage.
However, there are warranties available, but they are only for a specified period, and this is where car repair insurance comes to play. The best part is that it can cover specific parts like engines or tires.
A major reason for the people not opting for such policies is that there is a feeling that companies are more interested in increasing their profits than paying claims. If they find out that the cost of coverage(s) in the long run is equal to the repairs required, they opt out. This is where the reviews play an important part.

Best Deals

For getting the best deals for the insurance companies, you should show that you pose least risk. This would be confusing for many, as it is the older car which needs repairs. And it is the older cars, which require you to pay the highest premiums.
If repairing is expensive, it means the premiums are higher. For getting the best rates, it's always better to deal with reputable and old insurance companies, which have an excellent track record.

Extended Warranties

As the name suggests, they increase the time period of warranty of your car. Usually, if there is any repair to be done during the warranty period, the manufacturer would pay for that.
However, the warranty is only for a specified period, and if it's a used car, it's only for 3 months. After that if there is any major repair to be carried out, you need to pay from your pocket. It is possible to extend the warranty period, and you should get it done so that you can save valuable money.
Thus, if you don't want to pay for the repairs of your car from your pocket, this insurance is a good option. While purchasing, make sure that you get it from the right company or else you may have to pay more than you need.
Moreover, go through the fine prints and the rules and regulations before signing the document. If required, get in touch with a reputed attorney so that you know what you are signing.