What Should I Look For From an Auto Warranty Broker?

First, recognize that the auto warranty broker is an agent who writes warranties and keeps you informed of their status, sending you renewal notices as needed. You want your broker to negotiate the best coverage and cost for you with the provider of the warranty. You want to know who is actually providing the warranty. Who will be there when a problem arises?  Find out which extended auto warranty company we recommend.

Do some homework on the company and the broker. Locate a reputable company with honesty, integrity, a solid knowledge base and a good rating from the Better Business Bureau.

As you arrive at the office, look it over. Does it have a professional appearance? Clean facilities, empty trash cans and ash trays? Are desks full of aged clutter and old sandwich wrappers? Do they return your calls? Are you treated well? This is an easy area for scams to flourish. Never reveal your personal or vehicle information to an unfamiliar person on the phone who claims to be your auto warranty broker.

Understand that the warranty provider is the company you have selected to handle your claims, not the broker. The broker’s job is to obtain and sell you the best possible warranty for your vehicle. So, keep your contact information for the company in an easy to find location, preferably in your vehicle.

Remember when you buy a warranty with a broker that broker has no contract with you. If the warranty company goes bankrupt before you file a claim, the broker is not responsible. You must do your own due diligence to be sure the warranty provider is also a solid company. While you will want to listen to what the broker has to say, you should also do your own homework.

If you are likely to move in the near future, you need to know if your car is covered by that warranty in another state. Some states have different warranty laws. Your broker should be able to tell you this.

A third-party warranty may be less expensive, yet be able to provide better coverage than the manufacturer. But you must be sure to investigate the company to be sure they have the solid financial backing they would need to cover your claims. The primary job of the warranty company is to get your claims paid promptly and with the least amount of fuss. Remember, by this time the broker is already out of the picture.

Go online to learn more about your broker. There is a wealth of information online about brokers and warranty companies. What you really want to know is whether the company has a track record of standing up for its promises. Start with the Better Business Bureau and then check out Dun and Bradstreet.

Be ever wary of the fly-by-night company. A fancy website that does not allow you to follow through to the administrator or that has a history of name or owner changes is a real warning sign. That should be your red flag to look elsewhere for your auto warranty broker, just like the messy office was.

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