Yes, Geico offers mechanical breakdown insurance for new or leased cars that are less than 15 months old and have less than 15,000 miles on them. Geico mechanical breakdown insurance (MBI) is a policy add-on that insures a vehicle against mechanical problems, such as transmission or engine failure, which are not covered by standard car insurance policies.
However, mechanical breakdown insurance will not pay for routine maintenance, wear and tear, or damage caused by an accident. Other exclusions to Geico mechanical breakdown coverage include tune-ups, wheel balancing, and suspension balancing, among others.
Geico Mechanical Breakdown Insurance Cost
The cost of Geico mechanical breakdown insurance varies depending on the car, but the average MBI policy costs around $100 a year. Customers will also need to pay a deductible of $250 before Geico MBI goes into effect.
Mechanical breakdown insurance from Geico is a good alternative to an extended warranty from the vehicle manufacturer, which might provide the same type of coverage but will usually cost around $1,500 total. For more information on whether Geico MBI is worth it, check out WalletHub’s complete guide to mechanical breakdown insurance.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines
. This question was posted by WalletHub.
Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.