Content
Recent Posts
CarShield's Silver Plan: Affordable Coverage
Published: August 24th, 2023
Your car is your pride and joy, no matter how old it gets or how many miles you put on it. You want to make sure that it stays in top condition at all times. One way to do this is by investing in an extended warranty plan, but coverage options are scarce for high-mileage vehicles, so what do you do? You might look into CarShield's Silver plan, an affordable powertrain warranty with weight.
Content
Many people in the market for an extended auto warranty would consider CarShield, a leading provider of vehicle service contracts (VSC). They offer many different plans with varying levels of coverage, which they offer through third-party contract administrators like American Auto Shield. The majority of their contracts cover regular mechanical engine cars, but they also have policies for electric cars, motorcycles, and ATVs. CarShield reviews on Trustpilot and the Better Business Bureau (BBB) are generally positive with regards to their customer service, reliable claim approvals, and cost savings. CarShield customers can negotiate lower premiums, even after the start of an agreement, and enjoy many convenience factors like their mobile app.
In this blog, we will provide an overview of the CarShield company and its Silver plan, along with a breakdown of the coverage and benefits it provides. We will also discuss the cost of the coverage and optional surcharges. Finally, we will compare the Silver Plan with other options available on the market so you can decide if it is the right choice for you.
Read on to learn how CarShield's Silver plan stands out among other options and can provide long-term cost-effectiveness for your vehicle's repair needs.
Understanding CarShield's Silver Plan
Of all the offered options, Silver is the CarShield plan with the most basic parts coverage for cars with mechanical fuel engines. The Diamond plan is their highest-tier policy, offering exclusionary coverage, with Platinum and Gold sitting below it.
The Silver plan offers inclusionary coverage for the powertrain parts of your vehicle. The VSC specifically protects the engine, transmission, drive axle, transfer case, cooling system, and some associated components like the water pump. Keep in mind that some parts listed in a Silver contract, such as the transfer unit for a 4x4 and turbocharger, may require an extra surcharge to be included. Similarly, you will be charged an extra fee to cover a vehicle with a diesel engine, a lift kit, or one that has a "branded title."
Unlike many other extended warranty companies, you may be able to cover your car if you use it for commercial purposes, although you will be charged for that as well. These businesses uses include:
- Commercial: Meant for 'business' uses of a governmental or commercial nature, including delivery, company pooling, repair calls, job site activities, and others. Note that some business uses may not be covered
- Agricultural: Using your vehicle for farming, whether in a transportation or production capacity
- Ride Share: Using your car as an Uber or Lyft vehicle, though not as a taxi
For added peace of mind on the road, Silver also comes with benefits such as rental cars during repairs, trip interruption coverage, and roadside assistance. CarShield allows you to purchase coverage on a month-to-month contract or for specific term periods and mileage limits. You should read carefully through their supplied sample contracts before purchasing.
Exclusions and limitations to CarShield's Silver plan
The Silver plan, as a basic powertrain policy, will not include as many parts under its coverage as CarShield's powertrain plus plan, Gold, does. That means the AC, electrical, or fuel system parts are not covered, including components such as the alternator and fuel pump. You should also be aware that there will be a set limit of liability for all covered auto repairs and benefits, which means that total payouts cannot exceed your car's cash value or another specific amount. Therefore, there are also limits to how much you may claim for benefits and reimbursements per day, and the administrator may require the repair shop to put in lower-cost parts.
You will find that there are some general exclusions to your service, such as for normal wear and tear damage, pre-existing conditions, negligence, and maintenance items (although you are required to have your car regularly maintained). You will also be subject to a waiting period before you can file a claim, though not for roadside assistance services. All these and more will be spelled out within the sample contract, and you should be aware of them all before you decide to buy.
Who Is CarShield's Silver Plan For?
CarShield boasts that it will accept vehicles with high mileages of up to 300,000 for its coverage. That number may vary based on your location and vehicle specifications, as well as what plan you choose. That being said, Silver would be the most accepting of higher-mileage cars of all CarShield coverage options.
If, perhaps, you have an older and well-used Honda Civic that other warranty companies will not touch because it has over 200,000 miles on it, then you would choose the Silver plan. The provider does not share their upper age limit for coverage, but this plan would be the one you'd choose if you need basic protection for your older compact, sedan, SUV, or truck. It is the most affordable CarShield warranty, although also the most limited. If you need more parts covered but still worry about your budget, you might consider the Gold plan.
Is CarShield's Silver Plan a Good Deal?
A number of factors affect the price of CarShield's Silver plan. These include the make, model, and mileage of your vehicle, as well as the deductible you choose, which could be between $0 and $100. That being said, you may be quoted a monthly premium between $99.99 and $139.99 for a Carshield plan, and you can expect to pay at the low end for a Silver plan. Your pricing may go up depending on whether you opt for a monthly or term contract, the length of your payment installment plan, and the optional surcharges you choose, but you may also be able to negotiate a lower premium based on your circumstances. We have seen payments go as low as $69.99 a month.
While this can be the cheapest of CarShield’s plans, they may cover you for a similar cost under a higher plan. With their flexible payment plans, you may gain coverage for some electrical components with a Gold plan or for components like your wiring harness and instrument cluster with a Platinum plan and pay the same or not much more. It pays to be upfront about your criteria and negotiate the best deal for yourself.
How does it compare to plans at other providers?
There are many other warranty providers you may consider. Some, like Everything Breaks or Ox Car Care, will have powertrain plans that cost less but might cover fewer overall components. Perhaps the Standard Powertrain plan at Everything Breaks might cover enough components for you, and you might be enticed by their similarly high-mileage limit, acceptance of cars that are up to 20 years old, flexible monthly or yearly terms, and the transparency of the $59.88 monthly costs. And if you desire better protection, you may pay the same for their top-line coverage as you would for the Silver plan. However, their contract terms of one- or three-years are short, and they do not have quite as strong a customer support reputation.
If you're looking at other top providers, you will generally find similar coverage and pricing. Some providers, like CARCHEX and Olive, also function as service contract brokers for third-party VSC administrators. That being said, the extent of coverage may vary, and they might cover more components and vehicle conditions without charging extra fees, and both of these providers sell contracts in California. On the other hand, they might not cover as much mileage and do not have as many plan options that you can upgrade to.
Endurance also sells Mechanical Breakdown Insurance (MBI) in California, unlike CarShield, and does so as the direct provider and administrator of their VSCs. That means they handle claim filings in-house, whereas CarShield’s claims department would actually be the third-party administrator's, although CarShield does stand behind you in case of disputes. That being said, Endurance's Secure Coverage has fewer components covered and is more restrictive in its optional commercial use coverage.
So, Should You Get CarShield's Silver Plan?
If you have a well-used car and you prioritize lower monthly payments over a high level of coverage, then you should consider CarShield's Silver plan. The provider covers a competitive amount of components for such a basic plan and allows for a wide range of vehicle conditions, mileages, and usage types. And you have more flexibility than with other providers because you can buy this coverage on an ongoing month-to-month basis or for set term periods and mileage amounts.
If, however, your warranty coverage needs are extensive, especially if you have a newer or more technologically complex car, then you might be better suited to a higher-tiered CarShield contract. You might be able to negotiate the same or comparable pricing for a plan that covers a longer list of components, such as power windows and GPS, or more general parts categories, like the steering or electrical system.
Of course, whether you desire a similar or higher level of coverage, you would be well advised to look into the protection plans of other extended warranty providers. We have discussed a couple options above that might suit you, but you can do further research by reading our warranty provider reviews. And for an overall look at the features and benefits, use our comparison tool to pit those providers against each other. The right coverage choice awaits you!