Are extended car warranties worth it?

CarShield costs $99 per month and up, though prices may vary by state, driver, and specific vehicle. CarShield sells vehicle service plans, which are similar to extended warranties and will cover the cost of repairs to the car’s systems and mechanical parts.

Key Things to Know About CarShield Plans

• CarShield plans cover your vehicle’s engine, transmission, transfer case, drive axle, water pump.... read full answer
• Six different plans are available from CarShield, giving drivers options in terms of coverage and cost.
• To qualify for a CarShield plan, cars must fulfill certain eligibility requirements, though the company does not disclose the exact requirements. Eligibility can also vary by plan.

Specific details may vary based on which CarShield plan drivers purchase, but this list provides a good example of CarShield coverage.

CarShield vs. Extended Warranties From Major Insurers

Although exact coverage may differ for the providers above, all of them cover the main parts or systems. These include the engine, transmission, brakes, suspension, and steering.

It’s also worth noting that mechanical breakdown insurance from a car insurance company is often a cheaper alternative to a third-party vehicle service plan or extended warranty. For more information, check out WalletHub’s guides to mechanical breakdown insurance and extended warranties.

No, Geico does not offer extended warranties. Although Geico does not have an extended warranty plan, it does sell mechanical breakdown insurance, which is similar to an extended warranty and covers repairs to all mechanical parts of the vehicle. To qualify, cars must be new or leased, less than 15 months old, and have less than 15,000 miles.... read full answer

Geico mechanical breakdown insurance (MBI) is an inexpensive alternative to an extended warranty. Extended warranties usually cost around $1,500, whereas the price of MBI is often about $100 annually.

For more information, check out WalletHub’s guides to mechanical breakdown insurance and extended car warranties.

An extended car warranty costs around $1,500. The exact cost of an extended car warranty depends on several factors, including the condition of the car, the car’s mileage, and the amount of coverage included in the warranty.

Factors That Affect Extended Car Warranty Cost

An extended car warranty pays for repairs to a car’s major systems if they malfunction. If you drive an older car or a car with higher mileage, your warranty will be more expensive because your car is more likely to experience mechanical problems. Similarly, the more coverage that you include in your warranty, the more you’re going to pay.... read full answer

How to Shop for an Extended Car Warranty

If you want to purchase an extended warranty for your car, you should get quotes from multiple sources in order to find the best price. You can purchase an extended warranty from your car’s manufacturer or a third-party company, and the pricing is generally the same between the two. However, customer satisfaction tends to be higher for warranties from the manufacturer.

Many insurance companies also offer an alternative to extended warranties called mechanical breakdown insurance (MBI). MBI provides similar coverage and only costs about $100 per year.