Does car insurance cover repairs?

The likelihood that a person's car will break down at some point in their life is high. People take care of their vehicles, so it is less likely to happen, but the vehicle's age, and sometimes parts end up needing to be replaced. This can be an unpredictable source of stress for many people, as there are many working parts of a car that can break down, so drivers are not sure how much it will cost to get their car running again if it does end up happening. It can be hard to have a large sum of savings available in case your vehicle breaks down, but there are other options people have. It can still be nice to have some money set aside for a rainy day, though it is definitely easier said than done.

Does Car Insurance Cover Repairs?

Many people believe that automobile insurance will recover repairs for their vehicle, but not all of the repairs will be covered by your car insurance plan. There are repairs that come from regular wear and tear on a vehicle, and your car will also have general maintenance that needs to be done on it. For people who have comprehensive and collision coverage, repairs caused by a car accident or covered natural disasters and vandalism can be covered, however. For people who are looking for types of car insurance that may cover repairs, there are a few to consider.

Types Of Car Insurance That May Cover Repairs

If the damage to your vehicle is due to a collision, whether it is a hit-and-run, running into a tree or bush, or getting in an accident with another driver, collision coverage can help pay for the cost of damages. Collision coverage is an add-on to a person’s car insurance plan and is not part of basic insurance coverage. You can compare the prices for collision insurance coverage from multiple companies using the free quote tools on this website. Comparison-shopping is the top way to save money on auto insurance and find the best prices available for a policy that suits your needs.

Comprehensive coverage can also cover repairs, and includes a range of natural disasters and damage due to other non-collision related perils. Vehicle theft is also covered under this policy, as is vandalism. This is another optional policy that people can purchase as an add-on to their basic car insurance plans.

What Is Mechanical Breakdown Insurance (MBI)?

For regular repairs and maintenance on the vehicle, you may want to consider mechanical breakdown insurance, also called MBI. This is a plan that can help assist financially with sudden and unexpected repairs. Damages due to accidents will not be covered by this type of policy, and it is an add-on to a person’s basic insurance plan. Many companies offer this type of insurance, but not all do. Make sure to read over your contract, as these policies can vary quite a bit from one company to the next. MBI insurance generally comes with a deductible. After this deductible is paid, the policy will cover the cost of fixing your vehicle if it needs repair or breaks down. This can assist you in paying for engine parts, new brakes, a blown transmission, and numerous other expenses like steering, fuel systems, and air conditioning.

Some regular maintenance items will not be covered by this type of policy, such as oil changes, new tires, windshield wiper replacements, tire rotations, and more. Once a vehicle has reached a certain amount of mileage, and MBI plan may no longer be offered. Older vehicles have a much higher likelihood of breaking down and are too much of a risk for car insurance providers to cover overall.

MBI Coverage Vs. Extended Warranty

In addition to MBI coverage, extended warranties for vehicles are often available. This is most common when it comes to newer vehicles. People who have extended warranties offered for their cars might also consider MBI coverage. Each of these policies has a number of similarities and overlaps, and they also have differences. Depending on your unique situation, you might consider having both. Extended warranties will often require a driver to bring their vehicle to the dealership to be repaired. People who are looking to get the car serviced at their favorite trusted shop will often consider MBI policy instead. MBI policies generally cover a larger range of repairs than extended warranties as well. Coverage in an MBI policy will only extend to certain components, however. Reading the fine print of both of these types of policies is important before making your purchase.

MBI policies also do not require a large upfront payment, which many extended warranty plans do. They can be easier to budget overall, a major convenience for many drivers.

How Much Do MBI Policies Cost?

Cost is generally a concern when it comes to recurring bills. MBI policies are additional expenses on top of your current automobile insurance plan. Though your premiums can go up, most people find MBI policies to be low cost overall. In some areas, the prices can be as low as $30-$50 for the year. Costs for this type of policy can vary from one state to the next. Depending on the cost of the policy in your area, some people do choose to save money instead of purchasing one Keep in mind, however, that some auto repairs and maintenance can be quite expensive.

Final Notes

There are numerous types of automobile insurance policies, like comprehensive insurance coverage and collision insurance coverage, that will cover damages in specific circumstances. Property damage liability coverage can also be great, though none of these coverages will pay for normal wear and tear and regular vehicle maintenance. People considering this type of policy can use the quote tools here to get the best prices for mechanical breakdown insurance available in their area. It can be a smart plan to look up your vehicle, so you are aware of common repairs that people end up having to do. If there are expensive repairs on the list, you may be more likely to consider purchasing an MBI plan.