A Look at The Warranty Groups’ Policies
Need to protect your vehicle? The Warranty Group could be a good option.
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Originally a standalone company, The Warranty Group was recently acquired by Assurant in an acquisition that was valued at $2.5 billion. Now the companies operate as one, offering a range of warranty policies. The track record of success for both The Warranty Group and Assurant is significant. The business remains in good standing with the Better Business Bureau, in business for 16 years and accredited starting in late 2009. The company now focuses on offering modern coverage that’s relevant to today’s needs.
The Warranty Group Warranty Overview
Since this is such a massive company, the range of services is incredibly vast. However, the business does have a lot of dealings specific to vehicles. Partnering with mechanic shops across the country, Assurant makes repairs accessible.
Given that the warranties are administered through a repair facility directly, their plans vary significantly. That said, there are some standard offerings powered by Assurant.
- Mechanical Breakdown. This protection plan is viable for all ages of vehicles, whether they are on a lease, brand new, or used. It works in both Canada and the United States, letting you travel further while protected. The repair locations are paid directly, saving you money transfer hassles. This plan covers issues with vehicular damage of either an electrical or mechanical nature. It spans the powertrain and transmission. There are available add-ons for an additional price that will give you more coverage.
- Gold Seal Protection Suite. Designed to be comprehensive, this arrangement gives all parts of your vehicle coverage. It spans from the wheels to the windshield and includes both small and large electrical components. Though it runs a higher price tag, this plan is very thorough.
- GAP Protection. This type of coverage is there to pay the difference between your insurance and the remainder of your car loan. If factors in depreciation and saves you from paying the remainder owing in the event of a total loss. It also applies to large accidents such as vehicular theft.
- CHUBB. A relatively unique kind of coverage, this type of insurance covers your vehicular payments if you are unable to do so. In the event of an illness or injury, or upon the demise of the loan holder, this warranty covers the vehicle payments. It is used in conjunction with other protection plans to account for mechanical or electrical issues.
The plans are done on tiers, each with a different level of coverage. By breaking down the benefits, you can more easily choose a suitable price and plan. The breakdown is basically:
- Platinum: This is the top-level protection plan that covers everything in the other plans. Classed as end-to-end coverage, this plan is the priciest though the most thorough. Still, it is necessary to check the exclusions.
- Gold: The gold plan is one step up from silver. It covers anti-lock brakes, windows, sensors, and other small parts.
- Silver: This arrangement includes the powertrain, though adds on brakes, suspension, and electrical work.
- Powertrain: This covers just the engine, transmission, and drive system for both front and rear ends.
Warranty Costs
The price of the warranty depends on a lot of different factors. The main consideration is the age and type of vehicle and existing insurance coverage. Motorcycle warranties are priced differently than those for SUVs. Similarly, the price to warranty a Mazda may be different than warranties for a Honda. Another thing that plays into the calculation is the amount of coverage you are getting. Naturally, the gold plan will be less expensive than the premium arrangement.
Additionally, if you plan to access other warrantied coverage such as GAP insurance, it will cost more. Finally, the amount you accept as a deductible will dictate the cost of the plan. The higher the deductible, the lower the overall cost. A lower deductible will usually result in higher patent amounts.
Things We Like
We appreciate that the plans offered through The Warranty Group are backed by the repute of Assurant. This company has been on the market for some time, and the hefty investment during acquisition highlights the merit of the plans.
Another virtue is the variety of plans available. There are many connected auto shops, meaning it is easy to find a repair location. By connecting with a wide variety of distributors, it is also fairly easy to access the plans in the first place.
Additionally, Assurant has dealings throughout North America, not exclusively the United States. This offers peace of mind during travel that comes with fewer restrictions. The plans are administered directly through a dealership, meaning you don’t necessarily deal with The Warranty Group, rather a local liaison.
Feeling Overwhelmed?
Things We Don't Like
While the plans are diverse and comprehensive, there are a few things we don’t like about The Warranty Group. The main issue is that the information available through the website is relatively unclear as to the specifics of the policies. There is some coverage of the key facts through warranty reviews, though the overall picture remains somewhat unclear.
Customer service appears to be a concern with this business, with those seeking contact experiencing challenges in terms of access and wait times. However, these notes are mitigated by the positive experience of consumers making claims. That said, the company has accrued over 1,230 complaints over the years.
Lastly, we don’t like the ambiguity of the plans offered. The site notes that there are a lot of services available, though Assurant is such a large business that the vehicular coverage gets lost in the shuffle. While there is financial backing of a large company, the value is somewhat liquidated by their other obligations.
FAQs
Q. Does The Warranty Group offer a good warranty?
If you live near a distributor and have access to the repair facilities, the coverage can be helpful. Most plans have a wide range in terms of coverage area. There is the opportunity to select the best-suited arrangement for your budget, too. However, the specifics as to the policies are unclear. The potential difference in methods between distributors means there isn’t enough information to make a good recommendation.
Q. What does The Warranty Group warranty cover?
The Warranty Group, now a part of Assurance, has a lot of different warranties. Mechanical coverage has four tiers. The highest is platinum, which spans the whole vehicle (except agreed on exemptions). Other plans supplement mechanical coverage with CHUBB and GAP protection.
Q. How can I cancel my The Warranty Group warranty?
To cancel your policy, you can contact Assurant directly. Phone the toll-free number and speak to a representative. You will need your account information on hand. From there, let them know you want to cancel and the effective date. Depending on when you cancel, you will receive a refund, often in the form of a check.
Is a Warranty from The Warranty Group Worth It?
After careful consideration, we have decided that, given the ambiguity of the information provided, we can’t deem the warranty worth it. Having been acquired relatively recently, the company is not backed by a very large corporation. This means that the actual vehicular protection offered is only a fraction of the service. It is highlighted by several reviews noting subpar customer service.
Though there is comprehensive coverage, there are comparable extended warranties with clearer information. However, if you can access coverage through this provider with ease, it can be a solid way to keep your vehicle secure. Ultimately, warranties are about risk management, and it can be useful to have your protection run through such a large-scale organization.
More Information
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