Elijah Norton is an expert on vehicle service contracts (VSC) and thinks every vehicle should have one. He’s overseen his VSC company, Veritas Global Protection, since it had two employees, and watched it grow into a company that employs over 50 people, serves thousands of customers, and generates over $50-million in annual revenue.
But what are vehicle service contracts, and why does he think they are so important? What should you look for in a VSC provider? What benefits do they have for consumers? Do they offer roadside assistance? And how do they calculate their costs? These are some of the questions we’ll cover in this post. Let’s take a look.
What are vehicle service contracts?
Vehicle service contracts help cover repair fees not covered by your extended warranty, as your car ages, or if it needs a mechanic. Elijah Norton likes to remind his customers that vehicle owners are 100% on the hook for all repair costs after the warranty expires.
This is where vehicle service contracts show their usefulness. Your car is one of the two most significant assets in your life (the other one’s your house). When your vehicle breaks down, it isn’t just inconvenient. Without the right coverage, it can negatively impact your finances and disrupt your life for days or weeks.
“At reputable vehicle service contract providers like Veritas Global Protection,” says Elijah Norton, president of Veritas, “we want to benefit your bottom line.”
Everyone knows about limited warranties, but the new standard in protecting your vehicle is the vehicle service contract. Let’s take a look at what VSCs cover.
What do VSCs cover?
Outside the warranty, you’re the one responsible for all costs relating to vehicle repair. Depending on the plan you choose, vehicle service contracts can significantly – if not wholly – cover mechanical repair costs.
Different providers have different levels of coverage, and not every service contract is guaranteed to cover every repair.
If you’re looking for the closest thing to total coverage, you’ll want to look at something typically called exclusionary coverage. This means your service contract will cover everything except certain parts excluded and listed in the contract.
How are claims processed?
Many warranties and service providers make it a hassle to get a claim covered. Purchasing a vehicle service contract from places like Veritas Global Protection gives you the security that your car will be fixed no matter what happens.
Budgeting also becomes easier when you choose the right contract for your car because those pesky unexpected repair bills will be a thing of the past. Except for the VSCs cost – which is minimal, to begin with – your payment will be minimal, and your investment will prove worth every dime.
The best VSCs are the ones that come from companies with innovative offerings on all kinds of vehicle types, makes, and models. Their protection plans will be free of restrictive and limiting terms and in a language, the customer can read.
Quality VSC providers like Veritas Global Protection have service plans that benefit their customers and ensure they always feel protected whether on a road trip with their family or commuting to work every morning.
Are vehicle service contracts worth the cost?
Elijah Norton tells us the average cost of a car repair in the U.S. is roughly $600. This means it’s a smart move to get covered by a service contract, so you don’t have to pay for those costs upfront – never mind the price of a rental. With a vehicle service contract, the only cost is the cost of your coverage.
Contract costs can depend on a number of factors, including the model/make of your vehicle. But good service contract providers will offer a whole range of different packages. The amount of coverage you want and the contract’s length all play a role in determining the final cost.
That being said, service contracts are generally very affordable. But what should you be looking for in a vehicle service contract? Make sure your VSC provider checks off the following boxes:
- Competitive pricing practices
- Plans that benefit their customers
- Roadside assistance
- Make breakdowns hassle-free
- Excellent customer service reps
- Approachable management
Considering a vehicle service contract can be easily overlooked. But it’s worth your while to investigate because of the peace of mind it provides. Getting a VSC for your vehicle is an easy choice and the responsible choice to make for your vehicle. Adding it after is just as easy.
Elijah Norton knows vehicle service contracts provide vital lifelines for their customers. They give customers security and peace of mind not offered by warranties. Combined with the fact that VSCs protect one of your most vital assets makes it well worth the cost.