Veritas Global Protection: Exotic Vehicle Car Protection
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What Are Car Protection Plans?
Car or auto protection plans are optional car insurance plans that cover different car mechanical and electrical parts. Many car owners prefer buying auto protection plans, also known as extended warranty or vehicle service contracts, to avoid paying for costly repairs in case of a mechanical breakdown.
Extended warranties are available through auto clubs, dealerships, and third-party insurers. The plans vary in terms of price, what they cover, and the length of time. The high-end plans will provide more coverage for parts and items, but budget protection plans will cover the most essential parts such as engine, transmission, etc.
The auto parts covered by extended warranty plans typically include a vehicle’s electrical systems, cooling systems, air conditioning, exhaust, engine, steering, and more. As mentioned, the more expensive the plan, the more coverage it will provide for the vehicle. These protection plans are available both for new cars and for used cars.
Why Do You Need Auto Protection?
Basically, auto protection plans are opted for by car buyers to limit financial risk. Auto repair costs in the US are getting more expensive by the day. If your car suffers a mechanical breakdown, you will need to fork out hefty amounts of cash out of your own pocket. And if one doesn’t have an emergency fund for repairs set aside (and few actually do), this can seriously affect your financial situation for some time to come.
Exotic Car Protection
A subsection of rare and expensive luxury vehicles, exotic cars include McLarens, Ferraris, or Lamborghinis. For insurers, these exotic cars pose a different challenge. To begin with, the high horsepower ratings of these cars translate into more significant risks of accidents. If breakdowns related to accidents are covered under a protection policy and if the car is totaled during a road crash, the insurance company will pay a great deal.
We must also mention that most of these exotic vehicles grow in value over time, unlike other cars. This means that car owners will seek an agreed value rather than a stated value policy.
Apart from this, there are expensive repairs to take account of. In fact, high repair costs are one of the main reasons behind the high premiums exotic car owners need to pay to insure their cars. The car repair shops will often need to fit original replacement parts to maintain the car’s value and performance. The costs of those parts are pretty prohibitive, to say the least.
In addition, exotic cars often include advanced parts and components, that not too many body shops have expertise enough to fix. In fact, there is a shortage of highly qualified auto mechanics in the repair industry in general, and this is a problem for both auto insurers and vehicle owners.
It is often difficult to find mechanics who can repair features that have become common in most high-tech, advanced car models. We’re talking about features like adaptive cruise control, sensors or cameras embedded in bumpers/fenders, forward collision mitigation, blind-spot warning systems, etc.
This means that repair shops will have to replace these parts once something goes wrong, which obviously increases the average repair costs. Because of these reasons, exotic car owners should look for specialized auto coverage for their expensive vehicles.
Specialized insurance may cost you higher premiums. However, with unique exotic car plans, you can rest assured that your asset is secured. You won’t have to pay exorbitant repair costs if anything goes wrong with your car.
Veritas Global Protection
From the above discussion regarding car protection plans. Car owners who want to opt for extended warranties for their vehicles should look for reputable car insurance companies. Apart from the cost of any particular plan, one should look for things like:
- Added benefits (rental reimbursement, trip interruption coverage, roadside assistance, etc.)
- The Freedom to choose the repair shop of one’s own choice. Some third-party insurers make it so that one can only send their car for repair to a handful of select repair centers authorized by the insurers.
- Transferable coverage (when you sell your car, you can also sell/transfer your existing policy to the buyer of the car)
Veritas Global Protection is one of the few companies that provide all these benefits to their customers. Backed by AA+ certified insurers, Veritas Global Protection offers various plans for all types of cars: new, used, EVs, and exotic cars.
For exotic cars alone, they have three different plans (Preferred, Deluxe, and Premier) that offer different levels of coverage. All three of these plans come with unique benefits like Rental Car Coverage, Emergency Roadside Assistance, Transferable Coverage, Nationwide Protection, and Trip Interruption Protection.
Apart from that, Veritas Global Protection also enjoys a high reputation in the industry for its excellent customer service and support. The company executives will sit with the car owner and advise him on the best plan that will suit the latter’s particular requirements. In many cases, the company also designs customized plans for their customers so that they won’t have to pay more than they need to.
And the good news is Veritas Global Protection is not the only car protection company to go into such trouble for their customers. Most car insurance companies with reliable track records do the same for their customers. They will take the time and effort to find a suitable plan for their customers. So, as long as a car owner goes with the right company, his auto protection plan is bound to stand him in good stead.
