There are many different types of warranties out there but in most cases the more consistent would be an insurance structured warranty. These warranties are underwritten by an insurance underwriter so therefore are considered to be of higher quality. The reason for this is simple. As an insurance product if a claim is warranted then the claim will be paid compared to other discretionary type products that enable the warranty company to determine if the claim is payable or not at their discretion.
We have 2 types of warranties available including a Mechanical Breakdown insurance which is designed to cover cars that are older than 5 years and don’t qualify for Extension to manufacturer’s warranty. A Mechanical breakdown typically as a dollar value limit for different items as outlined in the attached Product Disclosure statement whereas an Extension to Manufacturer’s Warranty is a product that will cover all repairs that would be covered under the actual manufacturer’s warranty without any limits on value.
See the Extended Wararnty Product Disclosure Statement for more information