When you buy a new or used car, you will need the protection of an auto insurance policy to be safe on the roads. What happens when something goes wrong mechanically with your car outside of the damage from an accident? If you are buying a new car, you may have the option of an extended warranty that can give you some coverage.
Used cars are a different story. Few dealerships will offer much protection with an extended warranty, especially if they are a few years old. The good news is that you have the option of getting mechanical breakdown insurance (MBI) through your broker for the coverage that you need.
When your car breaks down, repairs can be costly. With the right MBI coverage from autoinsuresavings.org, you can avoid paying sky-high bills out of your pocket. Get the coverage that you need when the unexpected happens in your car. Let’s take a look at why you should be adding a MBI to the coverage on your used car.
What Do MBI’s Cover?
There are several levels of MBI coverage, depending on your needs. The basic coverage available as an add-on from your insurance broker can help save you money at the garage and give you some peace of mind. The primary coverage generally includes protection on these parts of your car:
- Engine parts including water and oil pumps
- Electrical Components
- Fuel systems
- Air Conditioning
The aspects of your car that are generally covered under general vehicle maintenance are not covered in most MBI policies. These include items like filters, tuneups, wheel balancing, fluids exchanges, and brake repair.
Benefits of Adding MBI Coverage
A MBI policy generally covers more parts and systems than an extended warranty. If your car is already a few years old, it’s unlikely that your dealership will be able to offer you much coverage in case of a breakdown of basic parts.
Extended warranties can be expensive when you consider that they only last for a few years. Your MBI policy will stay throughout your policy length and have flexible plans to fit your needs and budget.
When you add a MBI to your policy, you won’t have to come up with a large lump sum payment like when you purchase an extended warranty. You will be adding the extra cost to your regular insurance payments instead of paying for the additional interest of an extended warranty added to your car loan.
MBI policies are very flexible. If you want to sell your car eventually, the policy is transferable to the new owners. This coverage can be an attractive selling feature to interested car buyers. If you want, you can cancel the coverage and not lose any money.
Owning a car means there is always the chance of a breakdown. When something goes wrong, it’s not always easy to scrape together the money for costly repairs. With a MBI policy add-on, you get the protection you need when your car has a breakdown giving you peace of mind.