You Can Now Get A Marine Extended Warranty For Your BoatA marine extended warranty is one of the options that is given to you when you are buying a new boat. Marine extended warranties seem to be a good buy because they offer protection against a mechanical breakdown when the manufacturers warranty expires. What is a Marine Extended Warranty? A marine extended warranty is sort of a repair insurance policy. Most marine extended warranty policies have a certain limit of liability. So if you have a real lemon of a boat, you need to be careful because a marine extended warranty will only cover the repairs for a certain amount. Some plans limit that amount to $10,000 and others have limits up to $20,000, you need to be sure to read your contract carefully to find out what your limit is. How Much does an Marine Extended Warranty Cost? The price of a marine extended warranty varies depending on the type of coverage you opt for. It can be as little as a few hundred dollars to as much as a few thousand dollars. Is your Marine Extended Warranty Immediately in Effect as Soon as You Pay for it? Your marine extended warranty is not necessarily in effect as soon as you pay for it. It is the company that is the underwriters responsibility to put the contract into effect and that may take up to 30 days. During that period you should call the underwriter and make sure that the extended warranty is in effect. Should you Buy a Marine Extended Warranty? This is really your call. Obviously if you are buying a new boat you will have a manufacturers warranty, but if you need the security of knowing that your boat is covered for breakdowns after your manufacturers warranty expires, then you should think about buying a marine extended warranty. Even with a limit on how much is covered for a repair you are still somewhat more secure in the event of a major boat breakdown that could cost thousands of dollars. When you are buying a marine extended warranty you need to make sure you know what you are being covered for. Remember that you are getting what you are buying. So if you buy a coverage that is not very expensive, don't expect everything to be covered in the event of a breakedown. What is Covered in a Marine Extended Warranty? We already discussed the cap that marine extended warranties have, but some warranties cover more than others. Some very basic marine extended warranty policies will only cover defective part replacement. In other words, if the part is defective then the policy provider will pay the claim, but if the part needs to be replaced because of normal wear and tear then the provider will not cover the policy. Be sure you know which plan you are getting at the time you purchase it, so you don't have any surprises. |