Most of us insure our cars against accidents, theft and damage. But what about when something simply stops working?<\/p>\n
An electrical fault, gearbox failure, or major mechanical problem can quickly become an expensive surprise, which is why some drivers choose to obtain an extended Motor Warranty.<\/p>\n
But is it something every driver needs?<\/p>\n
\u201cWhether an extended warranty makes sense will depend on your vehicle, your finances and how much you rely on your car,\u201d says Keagan Sloman, Head of Product at The Unlimited. \u201cThe important thing is understanding your own risk and what you\u2019d do if you were suddenly faced with a significant repair bill.\u201d<\/p>\n
Not sure where you stand? Sloman suggests you take this quiz:<\/strong><\/p>\n 1. Is your vehicle still covered by its\u00a0<\/strong>manufacturer\u2019s warranty<\/strong>?<\/strong><\/p>\n A. No, it\u2019s already expired. 2. If your car needed a major unexpected repair next month, could you afford it?<\/strong><\/p>\n A. It would put serious pressure on my monthly budget. 3. How much do you rely on your car?<\/strong><\/p>\n A. Completely. I need it for work, school runs, family commitments and everyday life. 4. How long are you planning to keep your current vehicle?<\/strong><\/p>\n A. I\u2019m not planning to replace it for a few years still. 5. Which sounds most like you when it comes to financial surprises?<\/strong><\/p>\n A. I\u2019d rather pay a predictable amount for protection than risk a large unexpected expense. Results:<\/strong><\/p>\n Mostly As: \u00a0It\u2019s down to your circumstances<\/strong><\/p>\n What would you do if something went wrong and you had no cover?<\/p>\n Your car is an important part of everyday life, and an unexpected mechanical or electrical repair could put real pressure on your finances. This is where a Motor Warranty can help, giving you protection against a potentially hefty repair bill.<\/p>\n The Unlimited\u2019s Motor Warranty, for example, covers over 100 mechanical and electrical parts, with different levels of cover depending on the plan you choose.<\/p>\n Mostly Bs: It\u2019s down to the numbers<\/strong><\/p>\n You might be sitting on the fence, wondering whether paying for Motor Warranty is worth it. The question is whether you\u2019re comfortable taking the financial risk of not\u00a0having it.<\/p>\n Do the maths. Compare the monthly cost of the cover with what a major mechanical or electrical repair could mean for your finances, and factor in your car\u2019s age, mileage, service history and how long you\u2019re planning to keep it.<\/p>\n The Unlimited\u2019s Motor Warranty plans currently start from R429 per month and include 24-hour roadside assistance.<\/p>\n Understanding what\u2019s covered, the cost of the cover, and how that compares with the financial risk you\u2019re comfortable carrying can help you make an informed decision.<\/p>\n
\nB.\u00a0Yes, but it\u2019s coming to an end soon.
\nC.\u00a0Yes, there\u2019s still plenty of time left on it.<\/p>\n
\nB. I could probably cover it, but it would leave me with no cushion.
\nC. I have savings specifically set aside for unexpected vehicle expenses.<\/p>\n
\nB. Quite a lot, although I could make another plan temporarily.
\nC. Not that much. I have easy access to another vehicle or alternative transport.<\/p>\n
\nB. I\u2019m not sure yet.
\nC. I\u2019ll probably sell or trade it in relatively soon.<\/p>\n
\nB. It depends on the cost and what I\u2019m actually covered for.
\nC. I\u2019m comfortable carrying the risk myself.<\/p>\n