Can You Buy An Extended Warranty For A Company Car?

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Buy An Extended Warranty For A Company Car

Buying an extended warranty for your company car is one of the most important things you can do to protect it, especially if you plan on keeping it for a long time. The cost of buying such an insurance policy will depend on the make and model of your car and your personal financial situation. If you own a new vehicle, the premium will be higher than if you have an older model. 

But can you buy an extended warranty for a company car? Read on! 

Protect Your Investment

It’s common knowledge that spending less on insurance is always a good idea. It’s even better to save money and use it for an extended warranty. Buying an extended warranty for your company car may sound expensive, but this is the one thing you must never compromise on. 

It’s much cheaper than purchasing an annual policy, which will run anywhere from $350-$400+ per year. The amount of coverage provided by the service provider depends on factors like the make and model of your car and its age. For example, Toyota cars will benefit from a Toyota extended warranty

Saves Time on the Road

Getting an extended warranty for your car saves you time and money. Every year you purchase insurance for your vehicle (and have it replaced following minor repairs) can cost you hundreds of dollars in expenses.

However, if you have bought an extended warranty or policy for your car, you may do away with unexpected and unplanned maintenance repairs by avoiding them altogether. This way, the only thing that will happen between service visits is waiting for the parts to be delivered.

Helps in a Legal Wardrobe

Along with the cost of an extended warranty for your company car, you may also have to pay for a legal wardrobe. This is because of two reasons; first, buying such a policy will save you money in the long run, and second, it will help you avoid insurance claims that can be filed against you by your insured company. This is because most extended coverage policies will include the vehicle’s legal wardrobe, a requirement by most insurance companies.

Saves on Emergency Repairs

Though many car owners may claim that they never worry about their car, most will do some repairs in the first few years. This is because vehicle maintenance is important, especially if you intend to ensure your car works for years. You may need to spend money on replacing parts such as tires or headlights at various times. 

With an extended warranty for your car, you can save money by not having to pay for all these car emergency expenses.

Add Protection

If you want to save more money, consider buying an extended warranty for your company car. There are many coverage options and options to add more protection. One such optional coverage is a theft protection plan that will cover your lost or stolen vehicle and any third-party damage due to falling off the road or other accidents. 

Remember, this is extra coverage that must be purchased separately.

Conclusion

Buying an extended warranty can be a daunting task. That’s because it’s not always clear whether or how much you can get in return for your car. However, that doesn’t mean that it isn’t worthwhile doing. 

With the right type of warranty and if taken care of, a company car plays an important role in any company’s operations. As such, it is a worthwhile thing to do. 

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