A Look at Portfolio Protection Warranty Plans
Protect your vehicle (and your wallet) with a thorough warranty from Portfolio Protection.
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In business for well over 30 years, Portfolio Holding Inc. is the business that holds three separate warranty companies. Amongst its holdings are Portfolio SE and Portfolio Services, both located in Texas, and Express Systems, a business located in California. This trio of companies offers a wide range of service contracts. With products available for RVs, trucks, cars, and motorcycles, this business offers warranties for most situations. Before you settle on a warranty through Portfolio Protection, though, it’s important to familiarize yourself with their warranties. This way, you can find the best protection for your needs.
- Portfolio Horizon: A comprehensive plan, this is referred to by Portfolio as exclusionary coverage because it is the closest to bumper-to-bumper that the company offers. Among the covered parts are the powertrain system, engine cooling, air conditioning, suspension, steering, fuel system, brakes, and electrical parts. It is designed to work as additional coverage for vehicles that already have a powertrain solution.
- Quantum: This service contract covers electrical components in your vehicle. It is meant for modern automobiles which rely more heavily on these parts. This plan can be used in conjunction with a more basic plan, especially if your vehicle relies heavily on its electrical parts.
- Encore: This plan can work as a standalone warranty or in conjunction with other protection. It addresses the basic powertrain system such as the engine and transmission. The coverage also deals with the suspension, brakes, and steering, in addition to the other necessary parts to the vehicle’s utility. The service contract also comes with trip interruption protection, rental assistance, and emergency roadside assistance.
- Portfolio One: Portfolio One service specifics are unavailable on the company website, though consumers report that it is effectively a basic powertrain plan. This means that the arrangement should cover issues related to the transmission, engine, and drivetrain.
- The company offers comprehensive warranties for all types of vehicles.
- Portfolio Protection offers limited warranties in addition to service contracts.
- Available loyalty programs and other services like theft deterrence and asset protection.
- Business partners with multiple dealerships across the country to make warranties accessible.
- A convenient online portal makes tracking claims much easier.
- Limited information is available on the Portfolio One service contract.
- Warranties are only accessible to consumers through dealerships.
- Service contracts come at a fairly high price point relative to other options.
- Customers report a lengthy review process for repairs on covered vehicles.
- Does not openly state the mileage and timeline restrictions on the plans.
There are several warranties offered through Portfolio Protection, administered by the affiliated dealerships across the country. While the specific details on the timeline and mileage restrictions are not available online, the industry-standard is for five years and 60,000 miles. Typically, a warranty will allow for 12,000 miles of travel each year of extended coverage. The specific dealership will detail the timeline allowed, so ensure that you read the underwriting thoroughly.
Portfolio Horizon Coverage
A comprehensive warranty, the Portfolio Horizon protection plan refers to itself as exclusion coverage. This references the fact that this coverage is effectively bumper-to-bumper protection, though does have some caveats to coverage. It is designed to protect the powertrain system, pumps, air conditioning, and navigation displays. The website references specific exclusions, though notes that each dealership may have unique underwriting.
Among the exclusions are interior parts of the vehicle such as upholstery and door handles, meaning the warranty won’t detail your vehicle. It also exempts such processes as routine preventative maintenance (oil changes, belts, etc.) and exterior concerns such as paint quality.
With this plan, Portfolio Horizon gives consumers the opportunity to pay monthly as opposed to a lump sum amount. This enables drivers to access financing and pay down the total of the warranty over time. As with the other service contracts, it is transferable and comes with the standard perks offered through Portfolio Protection.
The main focus of this warranty is to address electrical devices in the vehicle, particularly on more modern models which rely on these parts to function. The coverage protects against potentially costly repairs to a wide range of parts, including the audio system and the navigation devices in the vehicle.
It is more nuanced than this, though, going on to protect smaller components like USB ports, driver-assist detection and warning systems, and the cameras used for forward and backwards movement. Among its most valuable features is that the Portfolio Quantum plan protects some of the more expensive parts of the vehicle.
The warranty offered here comes with multiple perks and all the basic service agreement protections a driver may need. The fundamental offering is the powertrain coverage, including the transmission, engine, transfer case, and drive axle assembly. These are some of the most important components to movement as well as the costliest to repair.
In addition, the plan also addresses important parts like electrical sensors, power motors, factory-installed navigation, suspension, the fuel system, air conditioning, cooling setup, as well as suspension. Though it is not as comprehensive for electrical parts as the Quantum plan, it can help you save on basic fixes.
Portfolio Protection plans offer a whole host of benefits, not the least of which is the ability to transfer the plans to a new owner down the line. If you sell your vehicle, you can shift the title of the contract to the purchaser, saving you time and administrative effort. It also helps incentivize a sale.
Other benefits include emergency roadside assistance, covering the cost of towing up to $50. To access this coverage, the breakdown must be as a result of a covered part of the vehicle. It’s important to note that these services vary based on the state in which the breakdown happens.
The final extra service is the covered cost of substitute transportation. This means that if your vehicle is in the shop for covered repairs, Portfolio will pay for the rental vehicle. Note that the benefits are offered via reimbursement which is subject to the underwriting on your contract. Check it carefully before you proceed.
What We Like
There are multiple parts of Portfolio Protection plans that we appreciate, not the least of which is the multiple warranties available. There is the option for basic coverage or advanced protection for electrical parts. This is especially useful as vehicles get more modern.
Beyond this, we really like the fact that these plans are available for all different types of automobiles including RVs and motorcycles. It enables drivers to go to a single source for household warranties, saving time and effort in the paperwork process.
Additionally, we like the fact that the company offers loyalty programs such as asset protection and theft deterrence. Because the company partners with dealerships across the nation, it makes accessing the warranties much easier. Finally, there is an online portal for dealerships and consumers to track claims and gather information.
What We Don’t Like
Though there are a lot of features we like about Portfolio Protection plans, there are some aspects of the coverage we don’t necessarily appreciate. One of these is that there is little information available online in terms of the mileage and timeline restrictions on warranties. While consumers report that these tend to be similar to the industry standards (five years or 60,000 miles), there is no specific information regarding these details.
Another negative point is that the warranties are only available through dealerships directly. Though there are a lot of affiliated dealerships across the United States, it removes some of the control from the drivers and puts it in the hands of the companies retailing the vehicles. Additionally, consumers report lengthy processes for claims reviews, reportedly causing delays for getting repairs done. Since there are caps on the rental replacement benefits, this can lead to some monetary issues.
Common Repair Costs
All vehicles need repairs eventually, even with the best care and effort taken. In order to mitigate the expenses of these fixes, warranties can be very helpful, especially when they cover the most expensive parts.
Portfolio specifically notes the estimated cost of repairs for protected parts, highlighting how expensive it would be to fix these parts without a warranty. Some of the most common issues and repair costs covered by plans through Portfolio Protection include:
- Transmission overhaul: $5,500 (Portfolio Horizon protection)
- Air conditioning: $2,719 (Portfolio Horizon protection)
- Engine control module: $1,670 (Portfolio Horizon protection)
- Drive axle: $1,675 (Portfolio Horizon protection)
- Power steering $1,565 (Encore protection)
- Water pump: $1,150 (Encore protection)
The key to determining the best warranty for your needs is conducting thorough research. Ultimately, it’s about risk management. You want to save money in the long term by making a smart investment upfront. That means knowing the parts most likely (and most expensive) to repair, then finding a warranty that addresses these needs with the fewest exemptions possible. To lend a hand in your fact-finding journey, we’ve addressed the most common questions below.
Q. Can you cancel the Portfolio Protection warranty?
Yes, you can cancel warranties with this company. Though consumers report some delays, the plans are eligible for cancellation if you opt out in the first 30 days.
Q. Is Portfolio Protection a good warranty?
There are multiple warranties available, with options available for all types of vehicles. As such, these warranties are especially useful for modern, electric vehicles, RVs, and motorcycles.
Q. What does Portfolio Protection’s extended auto warranty cover?
The most comprehensive plan, the Portfolio Horizon, is called an exemption plan since it covers most things except aesthetics, the car’s interior, preventative maintenance, and other small items. Consult your underwriter for a complete list.
Q. How much does the Portfolio Protection warranty cost?
The website does not indicate the specific prices, namely because they can vary based on the dealership. There have been six billing issues reported to the Better Business Bureau in the past few years, representing a small portion of the 65 total complaints.
Q. Can I get a refund on Portfolio Protection extended car warranty?
If you paid upfront, you are eligible for a prorated refund. However, if you opt for the monthly amount, then in lieu of a refund, you can simply cancel the service.
Q. Does Portfolio Protection provide a good customer experience?
Because the services offered differ based on the dealership, the customer experience will shift as well. There is an online portal to streamline communications, and with the exception of mileage and timeline notes, most information is available online.
Is Portfolio Protection Warranty Worth It?
After looking carefully at Portfolio Protection warranties, we determined that there are quite a few ways to benefit from these plans. Especially if you are near an affiliated dealership and have a vehicle for which coverage can be trickier to find, like a motorcycle or RV, the warranties can be very useful. Of course, it is prudent to do your research. Warranties are all about saving money over the long term, so check out the competition and find the price and protection that works best for your vehicle.
Here are a few more resources you can use: