Don't believe everything you hear and read: I've been told by mechanics to stay away from extended auto warranties because they are not worth the tremendous cost. That they promise you the moon and you get zip when the bill comes as they will weasle their way out of paying claims any way they can. Well, I didn't listen because I wanted peace of mind knowing my used vehicle repairs would be pretty much covered under one of the better options and with an allegedly BBB protected extended warranty company. I was pretty much confident that I would be in good hands when I spent weeks comparing the top rated warranty companies and saw CarChex had the best rating. Little did I know!
Two months after my warranty went into effect my used vehicle showed mechanical issues. I took it to my mechanic and he found numerous things were wrong and needing repair. The bill came to $1800 for all the necessary repairs. But there were other minor issues which the warranty would not address nor did they address 90% of my repairs stating the issues were all "pre-existing"!!!
Having just bought the vehicle and not knowing it's history, how am I to know what problems would crop up under my new ownership? So I get the majority of the repairs denied because the previous owner did not care for the vehicle properly?? Is that fair?? I bought the extended warranty to cover any mechanical issues henceforth, not in hindsight! Then I'm told I should have gotten the vehicle inspected before purchasing it. Hello?? Who can see problem areas that are hidden under or behind the engine, transmission or fuel area when they are all encased??? The sources of the issues were found only after dismantling!! I certainly did not appreciate the condescending attitude of the claims reps one bit.
Thus, I decided to cancel the warranty as it was costing me nearly $2500 to cover what? In an older vehicle with mileage above 60,000 will everything that fails in this vehicle be considered pre-existing hereon? So I'm paying all this money for an extended warranty that will not cover much and I'm paying out of pocket as well? Does that make sense? Not!
So if you have an older vehicle, beware as you will be punished as I was for purchasing an older vehicle with "old" issues that you are not aware of and paying out of pocket.
I see in the contract that there is a $50 cancellation fee and if a claim was made, forget about getting your money back. I've been very misled and disappointed to find the ratings of this company are not justified nor merited. But to those who have newer vehicles, good luck!!