Warranty and insurance are important aspects of owning a car regardless of whether it is an old one or a new car. Insuring your car with a comprehensive insurance plan will protect you from any sort of accidental damages financially. Warranty on the other hand makes sure you are financially cushioned against faulty motor parts.
Both these factors are highly useful for a car owner. Warranties usually cover mechanical and electrical and safety parts of the car like airbags, seat belts, engine and the gear box.
Basically, a car warranty is an assurance from the vehicle manufacturers that the product is safe and that in case of any faulty parts in the car shall be replaced or repaired. However, there are certain conditions to the warranty dynamics when a manufacturer issues the same: like, any default in the vehicle and its parts within a specific period of time is covered and any discrepancies beyond that specific period is not covered within that warranty.
Also, warranty does not apply to any kind of failure due to regular wear and tear of parts of the vehicle. Anytime the vehicle breaks down or malfunctions on its own without your fault or by others, then a car warranty will cover the charges incurred.
There are different types of warranties – a new car warranty and a used car warranty otherwise known as extended warranty. The new car warranty is issued by the car’s manufacturers and a used car warranty is purchased from either from the car’s manufacturers or a third-party company.
An insurance on the other hand helps pay for damages incurred due to collision or accidents and other causes like a fire or even theft! It is an agreement between the vehicle owner and the insurance company that ensures financial protection. It is basically compensation that is paid to the victim by an insurer.
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