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How to Ask the Right Questions When Seeking an Extended Auto Warranty Product.

extended warranty companies have found that it pays to advertise. But advertisements do not go into great detail; they only tell you what they think you want to hear. Car dealers wanting to sell you an extended auto warranty and telling you that you are obliged to purchase this through them is a scam. You are not obliged! You are able to source your own extended warranty product, but you have to be able to ask the right questions.

Ask them what their warranty product covers; you want them to provide you with a list of everything. Ensure that all the things you can think of are covered. If they don’t provide you with a copy of the contract listing all covered items. Steer clear of them. Ask for a copy of their financial statements, these should be available to the public and this will show you if the claims reserve account is in good standing. Ask them for a list of paid claims and whether the claims reserve account is insured and re-insured. Make a list of relevant questions, have them answer these for you, if they are evasive only want to sell you the product. Look elsewhere!

Don’t be afraid to ask exactly what you want, this is your money and you want to obtain the best possible warranty product for your money. If you go for cheap, without any further investigation, you will get what you pay for, and this will generally be a dud!

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