Does Car Insurance Cover Engine Failure?
Whether you’re driving a brand new car or an older model, chances are that at some point you’re going to have to make an engine related claim. While many people believe that their car insurance coverage will pay for mechanical issues related to normal wear and tear, this is simply not the case. Fortunately, there are some coverage options that can help you out.
The first and most obvious option is to simply call your insurance provider. In some cases, your provider will cover the repair of your engine, but only if the damage is related to a covered peril. For instance, if your engine is damaged due to a collision, your policy may cover the cost of repairs, but if your engine is damaged because you neglected to fuel it correctly, your insurance won’t cover the cost of the repairs.
The other option is to take out an extended warranty from the manufacturer of your vehicle. These can be purchased as a stand alone plan or as an endorsement on your existing auto insurance policy. Typically, these extend your manufacturer’s warranty for a specified period of time. For instance, a common powertrain warranty might cover 4 years or 50,000 miles. It’s a good idea to check your provider’s policies first, and to shop around if you are considering taking out an extended warranty.
The other option is to pay for engine related repairs out of pocket. Depending on your personal circumstances, this may or may not be the best option. While you can take out a loan to pay for a new engine, you’re probably going to be left with a hefty bill once the loan is paid off. In other words, a third party insurance policy might be your only option. The best way to find out if this option is right for you is to talk to your insurance agent.
There are also several other options that you might want to consider. For instance, the mechanical breakdown insurance is an optional coverage that may be worth your while, especially if you’re planning on keeping your vehicle for a while. This is one of the more costly car repairs and can leave you without a vehicle at the worst possible time.
The most important thing to remember when it comes to mechanical breakdown insurance is to be sure that you’re buying the best coverage possible. For instance, the manufacturer might be able to cover the cost of a new engine, but if your vehicle has a low value and you’re not willing to fork over the cash, this might not be the best choice for you. In addition, you’ll want to be sure that you have enough coverage to cover all of your vehicle’s expenses, including repair and replacement.
While the best way to determine which coverage is right for you is to speak with your insurance provider, you can also look online for coverage recommendations. For instance, if you’re looking for an auto insurance policy, take a look at a comparison of quotes to find the best deal.