What’s in a Plan?
Because of the technical complexities of automotive repair and unique situation of every car owner, vehicle service coverage can be complicated and confusing. To help make selection as easy as possible, we describe our plans in terms of level of coverage, how long coverage lasts, and the monthly cost.
The most important step to investing in vehicle service protection products is understanding what is covered.
Vehicle service plans can range from catastrophic to comprehensive, powertrain to bumper-to-bumper. Other sellers may have different names for categories of coverage. We think it should be simple: Supreme, premium, regular.
Commonly referred to as exclusionary or bumper-to-bumper coverage. Supreme plans provide comprehensive coverage for what we call core, comfort and convenience components, with a typical coverage level of 90 percent and above.
Commonly referred to as inclusionary or stated component coverage. Premium plans provide coverage for most stated core, comfort and convenience components with coverage levels ranging from 60 – 90 percent.
Commonly referred to as powertrain or limited coverage. Regular plans provide coverage for certain core, comfort and convenience components, with coverage levels up to 60 percent.
The better your coverage, the less you have to worry about getting your car repaired.
Duration is determined by the length of time in months or a specific mileage marker. For example, a plan may cover 48 months or 100,000 miles. This means you will be covered for 48 months from the date of purchasing your plan or when you reach an additional 100,000 miles from the odometer reading on the date of your purchase — whichever occurs first.
So, if your car has 50,000 miles on the odometer, add the number of miles to this odometer reading. In the example provided, your coverage would expire 48 months from the time of purchase or 150,000 miles, whichever comes first. Coverage duration can vary by plan and provider but typically covers 12 to 72 months from the purchase
Most vehicle service plans have a 30-day/1,000 mile waiting period in which providers are unable to authorize claims. Buy your service plan before a breakdown to ensure a seamless claims process.
Plan cost is based on your vehicle age, make and model and mileage on your odometer. From there, the price will vary depending on the type of coverage you need, from bumper-to-bumper to catastrophic and your deductible per claim amount.
ForeverCar only offers payment plans that are identical to the length of the contract. An issue to be aware of is the common practice of collecting money from the customer at an accelerated pace. When you're shopping, look for instances where the contract length doesn't match the length of the payment plan. For example, when you have a 4-year coverage plan (48 months) and the payment plan is two years (24 months), this should raise suspicion. You should ask why this is the seller’s practice and expect a direct answer.