After the maintenance plan that you have purchased with your vehicle has come to an end, it’s essential to think about the long-term costs of maintaining your vehicle. A car is a significant investment that shouldn’t be taken lightly. It’s important to take into consideration the wear and tear on your vehicle, as well as the possibility of unforeseen mechanical and electrical failures. This is where an aftermarket motor plan insurance comes in.
The process of purchasing an after-market motor plan insurance is the ideal solution for those who want peace of mind and financial security in case of unexpected repairs. Most insurance companies such as Hollard, Budget, and OUTsurance have this type of scheme. Your insurance company is your first port of call when looking for such.
However, do not sign the first offer you get even if it comes from your own insurance company. Shop around for better pricing.
First, let’s take a closer look at what an after-market motor plan offers.
An after-market motor plan insurance is an extended warranty that offers comprehensive coverage for your vehicle’s mechanical and electrical components not covered by the manufacturer’s warranty. This type of insurance plan provides financial protection in the event of unexpected and costly repairs that could occur after your original warranty or maintenance plan expires.
Now, let’s explore the benefits of purchasing an after-market motor plan insurance. The biggest advantage is the peace of mind of knowing you’re covered financially for any unforeseen and potentially expensive repairs. It also allows you to stay in control of your budget by not having to worry about unexpected costs. This insurance plan can also give you the choice of opting for a plan that covers the whole car or just specific components. Furthermore, you are using approved repairers and genuine parts which helps maintain the value and reputation of your car.
Buying an aftermarket motor plan insurance is a smart move for the long-term health and longevity of your car.
Herewith the difference between maintenance and service plans and their benefits.
A maintenance plan differs from a service plan in that it provides cover for the more important and costly replacement parts of the vehicle. A service plan, on the other hand, is somewhat different.
A service plan covers the cost of regular services on your car as specified by the vehicle manufacturer. In essence, a service plan pays for the servicing of your car – either on an annual basis or according to the vehicle manufacturer’s mileage requirements. Service plan lengths are generally stipulated by the manufacturer and the cost of the plan is affected by the make and model of the vehicle, with luxury and sports vehicle owners paying more for service plans. Replaceable items on your car that are predetermined by the manufacturer to keep your car running perfectly such as oil, air filters, and spark plugs form part of the service plan. Other items included in the service plan are cam belts, brake fluid, and coolant. Labour is also covered in a service plan.
While many perceive a service plan to be comprehensive, the reality is that a service plan is not enough to safeguard you against the financial strain that comes with owning and maintaining a vehicle.
Additional information: Miway Insurance
NOW READ: Life Begins at 40: Emotionally Rewarding Cars to Rev Up Your Passion
Written by: Dohne
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