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CarShield's Gold Plan: Extensive High-Mileage Protection
Published: August 18th, 2023
If you have an older car with a lot of miles on it and you worry about expensive repair bills, what would you do? Though there are many extended warranty providers that you might look into, a lot of them might not cover such a frequently-used vehicle, but CarShield will! Their Gold Plan may be an excellent investment for your vehicle because it offers accessible intermediate coverage that can extend your car's life and keep you on the road longer.
This post will cover everything you need to know about this plan, including its cost, coverage, and benefits. We'll also compare it with other CarShield plans as well as those from other vehicle service contract providers in the market. We will discuss factors that influence the cost of your coverage and how to purchase it. We hope this will help you assess if the Gold plan is worth it and help you make an informed decision before purchasing it for your vehicle.
Understanding CarShield's Gold Plan
CarShield is a top third-party provider that sells vehicle service contracts (VSCs) that extend your vehicle's factory warranty coverage. Customers generally view them well for their car warranty coverage and cost savings. They are known to be collaborative and always seek to find satisfactory solutions for prospective and existing customers alike, as well as for those who complain to the Better Business Bureau.
They offer five levels of coverage for cars with mechanical engines and also have specialized vehicle policies, such as one for motorcycles and ATVs. The Diamond plan is their highest-tier plan that is best for new cars, and Platinum sits directly below it. The Gold plan is positioned as a 'powertrain plus' service contract that provides substantial coverage for major vehicle parts, with some key benefits and upgrade options. The specific parts categories covered are the mechanical engine, transmission, cooling system, transfer case, drive axle, air conditioning, electrical, and fuel systems.
Your coverage would come with benefits such as roadside assistance, rental cars, and trip interruption coverage. You may be able to cover a car with a branded title, lift kit, diesel engine, turbocharger, or 4-wheel-drive, but you would have to pay an additional surcharge. Additional fees may also apply if you have a 'business use' vehicle that falls into one of these categories:
- Agricultural: Using your car in a farming transportation or production capacity
- Ride Share: Using your car as an Uber or Lyft vehicle, though not as a taxi
- Commercial: Meant for other 'business' uses than the above, including delivery, carpooling or business travel, service calls, construction, and others. However, not all business uses may be covered
CarShield allows you to purchase coverage on a month-to-month contract or for specific term periods and mileage limits. It's a good idea to look through their sample contracts online before deciding to purchase.
Are there any exclusions or limitations to CarShield's Gold plan?
This policy has a longer list of categories covered than CarShield’s basic powertrain coverage, the Silver plan. However, not all possible components in those categories are covered. You should look through the contract for a complete list of what is covered; and for waiting periods and limitations.
You will also need to watch out for specific cost and occurrence limitations for your benefits, such as being covered for up to $100 per day for rental vehicles. On top of this, you may also find a pre-determined limit of liability for your coverage, which stipulates that overall costs for claims and benefits cannot exceed your car's book value or a certain fixed amount. Your claims administrator may use that cost limit to necessitate that lower-cost, used, or remanufactured parts be used in repairs.
Routine maintenance is not included in this coverage, but it's essential to perform routine maintenance as recommended by the manufacturer, or you may be denied coverage by the administrator. You will find many other general limitations and exclusions to coverage in your contract, such as for pre-existing conditions, normal wear and tear, breakdowns due to a lack of maintenance, and so on.
Who Is CarShield's Gold Plan Ideal For?
Regularly driven vehicles that have racked up a lot of miles are harder to cover than newer cars. That's because their parts are older and more worn down, and therefore, they are more likely to fail and need repairs. Ironically, this makes coverage for vehicles with high mileage essential to avoid unexpected repair costs. CarShield prides itself on accepting cars with up to 300,000 miles, although their top accepted mileage number will vary by plan, location, and vehicle specifications.
CarShield's Gold Plan protects expensive powertrain parts and many other critical components, such as the alternator, water pump, and fuel pump, ensuring your vehicle stays in good working order. This policy is best for aging sedans, SUVs, or trucks with moderate protection needs, and it might represent the best compromise in affordability and function. Of course, if your car is more technologically demanding or if you own an electric car or other type of vehicle, you might be better suited to other options offered by this provider.
Is CarShield's Gold Plan Worth It?
CarShield, like other warranty companies, requires you to contact them for an individualized quote and does not share prices online. However, their costs generally fall in the range of $99.99 to $139.99 a month, and your deductible is usually set at $100. Your costs for the Gold plan would likely be in the middle of that range, although costs largely depend on your vehicle's age, mileage, and make and model. They will also depend on whether you buy protection for a specific term limit or on a monthly basis, which means that you may end up paying more per month for a Gold plan than you would for a Platinum or Diamond plan.
You'll have to consider what kind of protection you need for your money. For instance, your Gold plan will not cover vehicle parts such as steering and suspension or sufficient electrical issues involving wiring harnesses or instrument clusters. You would have to upgrade to the Platinum plan to be covered for these components, among many more, and your cost difference may not be significant if you negotiate well.
How does it compare to other warranty providers?
Other extended warranty providers offer similar powertrain plus policies, most of which cover the same parts categories. While there are providers, such as Everything Breaks, that offer more affordable options, it's important to consider the trade-offs. These providers often come with shorter contract periods and may have a less robust customer support structure. On the other hand, some top providers may offer similar pricing and exceptional service but with somewhat fewer components.
However, it should be noted that with Endurance's Secure Plus plan, also a powertrain plus option, you would be covered for the steering and brake system, for which you are not under the Gold plan. You can also choose to cover a hybrid car with Endurance after paying an added surcharge, although that provider does not offer as many other paid options as CarShield does.
You may actually get identical coverage with other companies that act as brokers to find you the type of policy you desire. CARCHEX is a company that, like CarShield, also works with third-party administrators like American Auto Shield. You may not get quite the affordable prices with CARCHEX, but they do have strong nationwide coverage and a good customer service reputation, and they are a good option if you live in California. It truly depends on what your priorities and criteria are.
Should You Choose CarShield's Gold Plan?
Whether you choose the Gold plan at CarShield or not will depend on what kind of vehicle you have, how old it is, and what your budget looks like. It offers substantial coverage for vehicles with higher mileage mechanical and electrical systems, which you can purchase for a set term period or as an ongoing monthly subscription. It may also be the best service contract you can get from the warranty provider if your car's odometer miles are over a certain limit, and it comes with expandable coverage options for special vehicle conditions and uses.
However, those same options may apply to CarShield's other plans, as do all added benefits like rental car reimbursement and trip interruption coverage. With that in mind, you should explore if you want higher-tiered coverage for more of your high-tech components because, with this provider, you might be able to negotiate similar monthly payments. Luckily, you have access to sample contracts for all offered policies at this company, which you can discuss along with your specific requirements when contacting your CarShield representative to find the best fit for you.
You would also find it useful to compare with other extended auto warranty providers to see who offers the features you need, then do some in-depth research into the best ones you find. You can check out online customer reviews for them at the BBB's website as well as at other review platforms. Your peace of mind and the right coverage choice are waiting for you一 with proper research!