There’s nothing worse than the feeling of when your car breaks down. You’ll just be cruising down the highway when you suddenly hear a strange noise from under the hood? What is it? Unless you are fairly competent in the field of automobile repair you probably haven’t the foggiest idea. One way to put your mind at ease is to purchase mechanical breakdown insurance, or MBI.
Mechanical breakdown insurance is offered by many auto insurance companies, but not all. Your MBI will have a deductible like normal insurance, and your insurance company will cover the rest. If you are interested in MBI but unsure if your provider offers it, ask your insurance agent or company.
Mechanical breakdown insurance is usually offered only on vehicles that are less than 15 months old and have less than 15,000 miles, though your policy may vary depending on your provider. Usually you can keep renewing your coverage for several years or up to 100,000 miles, whichever comes first. Insurance companies are not going to insure an older vehicle that is prone to breaking down, after all.
The only way in which you will be covered for mechanical failure otherwise is if some sort of accident caused the mechanical damage. For instance, say you hit a pothole and now you hear some weird sound in the area of your suspension. You can call your insurance company if you have normal, full coverage collision insurance and ask them if you are covered. They will probably want to have a mechanic certified by them look at your vehicle. If the mechanic then agrees that the damage was caused by a pothole or the like then you will probably be covered. Note that this type of situation will not apply to tires, as damage to tires is considered “wear and tear”.
So as you can see your best bet for such concerns is to get yourself covered for mechanical breakdown. Breaking down is a concern for everyone, even those with newer vehicles.
So what do you do if you want mechanical breakdown coverage but your current provider doesn’t offer it? The first thing you need to do is shop around. Do some searching on the internet and look for reputable auto insurance providers. Some will offer it, some won’t-but it certainly doesn’t hurt to ask. Often, auto insurance companies will provide you with decent discounts if you purchase more products from them, which is why many families insure multiple family members on the same policy or will insure their car and home with the same company.
One of drivers’ greatest fears is to have their car break down. But there is something we can do about it. Mechanical breakdown insurance is an invaluable investment and gives you some valuable peace of mind when you’re on the road. Even if you’re in the market for some cheap car insurance, you need to consider MBI when you are making your decision. After all, the $400 you spend on your MBI premium will pale in comparison to the $4,000 mechanic bill you receive when your transmission locks up right after your warranty expires.