Failing to plan for mechanical breakdowns is one of the quickest ways to find yourself in dire financial straits. While most of us purchase auto insurance to protect ourselves from a calamity, you will still want to consider mechanical breakdown insurance through your car insurer, dealer, bank or credit union. A standard auto insurance policy does not cover wear-and-tear maintenance should you need new major repair work.
What Does Mechanical Breakdown Insurance Cover?
You will need to save money on the side to cover wear-and-tear repairs like:
- Brakes & Rotors
- Engine Parts (Oil Pump, Pistons, Timing Gears, Flywheel, Valves)
- Drive Axles & Joints
- Electrical Components
- Cooling / Air Conditioning
- Fuel System
If your vehicle should need towing or if you needed a rental car in the meantime, you will be glad to know this type of auto insurance would have you covered. You often will see roadside assistance and lock-out service added on as well.
How Much Does Mechanical Breakdown Auto Insurance Cost?
Unlike traditional auto insurance, your rate does not fluctuate if you make a claim. Instead, service contracts are based on the type of vehicle you own, the length of coverage, the number of miles driven, and the level of protection you desire.
Levels of Insurance
For instance, Mercury offers four levels of insurance all the way up to Platinum, which covers things like brakes, tires, shocks and windshield wiper blades. Like regular auto insurance, choosing a higher deductible (if possible) will lower your cost. It is important to know that this insurance is fully transferable should you decide to sell your car. If you do not want to transfer the policy, you will get a check back for the prorated amount of unused insurance.