The Expenses of Average Car Repairs
There’s no doubt that bringing your car in to the auto shop can lead to some hefty expenses that is out of your budget. Sure Midas and Walmart prices are pretty low and you can expect a good deal out of the cash you pay at Pep Boys or Firestone but even then it’s a big chunk of cash to pay.
If your car was broken due to a crash or accident, you’ll have auto insurance to cover the costs but what happens if your car just broke down due to an old, damaged radiator or damaged engine parts? Who’s going to pay for the repair costs then?
In those cases, you’ll want to have car repair insurance.
What About the Warranty?
Warranty for your car is limited to a very short period of time, normally between 2 to 5 years. Wouldn’t it be sheer bad luck if your car broke down the day after the warranty expired? Since it needs engine repairs or parts replacement and wasn’t caused by an accident, you’ll have to pay for the repairs in cash.
Car repair insurance goes beyond the time restrictions of a warranty. Most of these insurance plans extend to a maturity date of 10 years. You can even get car repair insurance for an old, second-hand vehicle so long as it isn’t beyond 8 years of age.
Benefits of Car Repair Insurance
Why pay another monthly premium for car repair insurance? Why add another item in your monthly bills? Believe it or not but car repair insurance may be needed before you ever have to use your auto insurance. You may never get into a car accident but your vehicle will always need repairs and tune-up.
There are a lot of real benefits to get car repair insurance. Consider the following:
Honest Repair Jobs – ever feared that your mechanic is cheating just to get you to pay more cash? What he told you your car needed several repairs when really it just needed an oil change? You’d be spending thousands of dollars on unnecessary repairs and replacements.
With car repair insurance they can’t do that anymore. Every detail is documented, from the damages the car has to the type of repairs and brand of replacement parts installed. If they ever lie about what they did then they can be sued and no auto shop wants to face a legal battle.
Cheaper Repairs for Used Cars – as mentioned above, used cars normally don’t come with their warranty intact. Most of the time, the warranty is already expired meaning the new owner has to shoulder all repair costs with cash. With car repair insurance this no longer becomes the case.
With car repair insurance you can affordably get a second-hand vehicle repaired. Most insurances cover partial repairs or bumper to bumper repairs so you can expect a large portion of the expenses to be slashed off.
Numerous Options – if you just want insurance to cover oil changes, filter replacements, and your engine maintenance then you can. If you just want repair insurance for the tires and for the radiator then you can.
You can customize your policy to insure everything or only the parts that worry you the most. You can also get your insurance customized so that you won’t have to pay cash at specific auto shops.
How Much Does Car Repair Insurance Cost
Here’s the magic question that a lot of people want answered: just how much will repair insurances cost? You’re probably still paying for your car loan and you’ve got to pay auto insurance. Add in the bills for your rent or mortgage, health insurance, life insurance, and 401k you’ve got a ton to pay per month.
Is adding car repair insurance a little too much to ask? It all depends on how much it costs.
If you were to only get specific parts insured then the cost would vary from situation to situation. Full car repair insurance, however, mostly factors in two main elements:
- Type of car you’re driving – a more expensive car will require more expensive parts so expect the higher class of vehicles to cost you higher insurance premiums.
- Age of car – the age of the car will also play a big part in determining how much you’ll end up paying per month. Some older cars cost more because of how rare their parts have become while the same can occur for newer vehicles, particularly luxury cars.
If you’ve noticed, location and the age/gender of the driver no longer play a big role. This is because these are important for auto insurances but they won’t be much of a factor for car repair insurances. If you got into a crash, it’ll be your auto insurance that will cover the bills, not your car repair insurance.