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A couple of companies are advertising that if your car is less than XX years old and has less than XX miles, you can get this "insurance" and never have to pay repair bills again?
I personally do not trust any of those repair plans. They tend to always find a way to let you know the reason for not covering whatever mechanical problems that you have. I know a lot of people whom have had extended warranty plans and could not get the company to pay for any repairs that were needed. Remember that all of these companies have to make profits and that would not be possible if they really paid for the repairs that they lead people to believe they will repair.
I personally do not trust any of those repair plans. They tend to always find a way to let you know the reason for not covering whatever mechanical problems that you have. I know a lot of people whom have had extended warranty plans and could not get the company to pay for any repairs that were needed. Remember that all of these companies have to make profits and that would not be possible if they really paid for the repairs that they lead people to believe they will repair.
US Fidelis is also the one who figured out a way around the new phone sales "do not call list."
Many have gotten calls to cell phones and at home that say "did you know your factory coverage is about to expire?"
It was probably them war dialing without storing the numbers (or however they got around the law).
Anyway, they're betting your major components won't fail, using your money. They've figured out that unless you beat the crap out of your car or run vital fluids dry, things like this simply don't fail that often (engine, transmission, AC system, etc.). I bet they don't cover things that do wear out like brakes, suspension, etc.
Just like the normal three years bumper ot bumper warranty they don't cover normal wear items or damage by road hazards etc.Bascially it just another type insurance. There are even policies that will give you your money back if you never use them.
Its insurance ;if you want to buy it; buy it.If not then don't. Same thing as any insurance really.
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