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Avoiding Fraud With Extended Auto Warranties

Avoiding Fraud With Extended Auto Warranties Image

Extended auto warranties can be very good, assuming that the issuer of the warranty plans happens to be legitimate.  In recent years, the incidence of fraud with Car Warranty plans has increased.  This makes it very important for consumers to know who they are dealing with, and that the warranty will in fact cover everything that is claimed.

One of the best ways to avoid fraud when comparing extended auto warranties is to pay as much attention to who issues those warranties as the terms and conditions found in the warranty contracts.  Take the time to find out who is underwriting the plan and what type of reputation they have among consumers.  Run checks using consumer protection websites and business bureaus to make sure there is no question of integrity or the ability to live up to the warranty terms.  Along the way, make sure that if you are looking at warranties issued from a source other than a dealer or manufacturer that those issuers are financially sound enough to support your warranty for at least the number of years specified in the contract.

Also take the time to visit consumer forums online to find out what current and former holders of the extended auto warranties think about the plans.  This will provide some insight into how well claims are processed and what steps are taken when there is some sort of conflict between the expectations of the buyer and the company issuing the warranty.  Be prepared to find some negative comments, since no provider can please everyone; concentrate your efforts on identifying any trends that indicate consistent problems that remain unresolved and it will be easier to decide which of those great warranty deals to choose.

Author - Michael Hutchinson
 


published: 15/04/2011 11:00:02

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