Is the CarShield Diamond Plan Worth the Investment?
Updated: May 27th, 2023
In the world of vehicle ownership, unexpected repairs can often lead to financial stress and inconvenience. This is where a comprehensive extended warranty plan like CarShield's Diamond plan comes in. In this blog post, we delve into the key features, benefits, and coverage levels offered by the CarShield Diamond Plan, shedding light on how it stands out as a safeguard against unforeseen automotive expenses.
Whether you're a seasoned driver or a new car owner, read on to discover how this plan can provide you with peace of mind on the road.
What Is CarShield?
CarShield is a popular extended auto warranty provider, offering a range of plans that provide peace of mind and protection against costly repairs. They are well-reviewed by customers on Trustpilot and Better Business Bureau, with many praising their helpful customer support and claims representatives, as well as their cost savings and convenience options like their mobile app. That being said, they do not currently have BBB accreditation due to an ongoing issue with them involving a number of complaints.
They function as service brokers, which means that they work to find you the best coverage and deals from third-party vehicle service contract (VSC) administrators, such as American Auto Shield. This allows them to offer many options tailored to different budgets and vehicle types, with coverage levels that vary from basic powertrain coverage to all-inclusive protection.
One standout option is the Diamond plan, which offers the most comprehensive coverage for most of your vehicle's essential components and systems. While the cost of this plan varies based on factors such as your car's make and model, age, and mileage, it's a safe bet that this comprehensive coverage can provide significant protection against unexpected expenses.
What Is the CarShield Diamond Plan?
The Diamond plan is a VSC that offers exclusionary coverage for most electrical and mechanical parts of your vehicle unless explicitly excluded in the contract. It extends the manufacturer's warranty coverage for newer and used vehicles to help mitigate repair costs in the event of breakdowns or malfunctions.
What does the CarShield Diamond plan cover?
This CarShield plan offers breakdown protection that is similar to your car's original bumper-to-bumper warranty. It sits on top of the company's main coverage options for cars with mechanical engines, with the Platinum, Gold, and Silver plans offering various lower levels of inclusionary warranty coverage.
Unlike those plans, your Diamond contract will not list specific parts categories and components that it covers, but rather only components that are not covered. Those excluded parts or components may involve the upholstery, paint, vehicle frame, brake pads, headlights, non-original audio components, and so on. Coverage comes with standard additional benefits that include roadside assistance services like towing, emergency tire service, fluid delivery, winching, and more. You might also be covered for trip interruption expenses and rental car reimbursements.
Keep in mind, however, that not all types of vehicles may apply for this plan. CarShield and the administrator may impose an extra surcharge if your car is 4-wheel drive or has a diesel engine, turbocharger, lift kit, or branded title. They will also impose an extra fee if you plan to use your car for business, but only if it falls into one of the following categories:
- Agricultural: Where you use your car to transport farming commodities or in agricultural production
- Ride Share: Where you use your car to provide rides for Uber or Lyft, but not as a taxi
- Commercial: For other 'business' uses, including delivery, business travel or pooling, repair calls, construction, governmental purposes, and others. Not all business uses may be covered, so consult the contract
If you're looking for a comprehensive warranty package, this plan is worth considering since it covers many parts that typical warranties do not. It's especially beneficial for those who own new vehicles and want to go the extra mile to safeguard them. Moreover, if you want to extend or enhance your manufacturer's warranty, this plan may provide excellent value at a reasonable price.
This CarShield coverage VSC is sold on a month-to-month or term contract basis, each of which has different waiting periods for claims filing. Click on the links above for the sample contracts provided by CarShield online. There, you can find all excluded parts listed in full, along with all provisions, limitations, and general exclusions.
What Is Not Covered by the Diamond Plan?
While the CarShield Diamond Plan offers comprehensive coverage for various mechanical and electrical issues, there are some exclusions to be aware of. The plan does not cover pre-existing conditions or any issues that arise due to normal wear and tear. Damage caused by environmental factors, misuse, neglect, or events like flooding or fire may also not be covered. Additionally, the Diamond plan may not provide coverage if your vehicle is used for commercial purposes unless you pay the applicable surcharges.
As stated in the previous section, there are certain components not covered by this policy. Cosmetic and aesthetic elements, such as the paint on interior trim pieces, are typically not covered unless they directly result from a covered mechanical breakdown. Non-mechanical parts, like audio systems, may also be excluded from coverage. It also does not cover routine maintenance items such as oil changes, tire rotations, or brake pads.
It's crucial to carefully review the specific terms and conditions of the CarShield Diamond plan to clearly understand the contract details and any exclusions when making an informed decision about protecting your vehicle.
How Much Does CarShield's Diamond Plan Cost?
The make, model, and mileage of your car, as well as the additional options you select, all play a role in a CarShield Diamond plan's pricing. The estimated cost of a CarShield service contract typically falls between $99.99 and $139.99 per month, with a deductible of $100 or $0. You can expect to pay at the upper end of that range before additional surcharges, and we have seen that monthly costs can get upwards of $200.
Keep in mind that you may negotiate smaller or larger payments depending on the length of your monthly payment plan or if you opt for the month-to-month coverage model. Your specific budget and situation may also affect your CarShield quote. Of course, to determine if the investment is worthwhile, it's important to consider the plan's potential benefits in more detail.
What Are the Benefits of the Diamond Plan?
The CarShield Diamond plan is the epitome of comprehensive coverage, resembling the manufacturer's warranties that come with new cars. It goes above and beyond to cover an extensive range of vehicle parts and components. This plan leaves no stone unturned, from the engine, transmission, drive axles, and transfer case to the brake system and instrument cluster and much more. It ensures that you are protected against a wide array of issues, including engine failures, transmission problems, starter malfunctions, fuel pump breakdowns, and so on.
This plan is therefore ideal for newer cars, SUVs, or trucks with expiring factory warranties. You would want to extend that coverage to ensure the same level of protection or higher, and the Diamond plan will go above and beyond with its exclusionary coverage, customizable options, and useful benefits. If you have a car with lots of expensive, high-tech parts, then this is the type of coverage you'd seek.
However, while CarShield prides itself on accepting higher-mileage vehicles of up to 300,000 miles, you would not be accepted for quite as much mileage on the Diamond plan. The tradeoff for this policy's stricter eligibility is that you don't have to worry as much about whether your water pump, alternator, wiring harness, or fuel injector is covered as you would for the lower-tiered plans.
Is the Diamond Plan Worth It?
Determining the best auto warranty plan for your vehicle depends on your individual needs and priorities. If you prioritize maximum protection and want to avoid the widest range of unexpected repair costs, the Diamond Plan may be a worthwhile investment. Of course, if your vehicle is newer and its powertrain warranty has not run out, then perhaps the supplementary Aluminum plan may be more suitable. You may still consider a Diamond plan afterwards to truly extend your warranty coverage seamlessly. CarShield may be able to quote you a price or payment model that works for your budget.
However, if the CarShield Diamond plan is too expensive for your budget or if your coverage criteria are lower, then you can choose between four other general plans with inclusionary coverage that you may get at affordable prices. The Platinum plan, in fact, may suit just as well with its near-comprehensive parts coverage. And if you have an electric car, motorcycle, or all-terrain vehicle, you would be better served by the company's specialized coverage plans for those different vehicle types.
Should You Buy a CarShield Diamond Plan?
An extended auto warranty is an investment that can provide significant benefits for car owners seeking protection from unexpected repair costs. Once the factory warranty expires, repairs, especially for major components like the engine or transmission, can be financially burdensome. By opting for Diamond coverage, you would extend your manufacturer's bumper-to-bumper warranty protection without interruption. At this level of coverage, you would not have to worry about the majority of auto repairs for mechanical and electrical breakdowns.
Of course, if you desire more specialized or affordable coverage, the provider offers many other plans that may strike your fancy. Most of these plans have the same additional benefits and may be customized to fit vehicles that otherwise wouldn’t be eligible for coverage. Customer reviews show that the majority of CarShield customers of different budget levels and vehicle criteria laud their customer service, claims approvals, and cost savings.
However, it is advisable that you consider and read reviews of other extended warranty providers before settling on a service contract. Many top providers, including the ones discussed above, have similar comprehensive protection plans that may suit your needs, so you should compare them for an overall look at their features, pricing, reputation, and extent of availability. Whether you opt for an extended warranty or not, prioritizing protection against unexpected repair costs is prudent.