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CARCHEX vs Preferred Warranties Inc

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Pros
  • Relationship with multiple VSC
  • Trip interruption reimbursement
  • Flexibility of warranty options
  • Refund upon contract cancellation
  • Choose your own repair shop
Pros
  • Nationwide coverage
  • Offers powersport coverage
  • Online claim process
Cons
  • Does not cover all cars
  • May be more expensive than others
  • They are brokers, not administrators
Cons
  • Can only be bought at the time of vehicle purchase
  • No online quote
  • Not all the plans include benefits
  • Limited information
  • Not a direct provider
Summary

CARCHEX boasts a great reputation and excellent customer service, among their many advantages. CARCHEX has been helping people protect their vehicles since 2004. They have an A+ rating from the Better Business Bureau and have been consistently ranked as one of the best extended warranty companies in the industry. If you own a vehicle with high mileage, CARCHEX is an especially good option for you.

Summary

Preferred Waranties Inc. was started in 1992 in Pennsylvania as a car shop. Later, they grew into selling guarantees for cars. They've been in business for a long time and offer a full range of care contracts for used cars, bikes, and ATVs to people all over the United States. Their plans range from whole car to engine, and some come with extras like roadside help 24 hours a day, 7 days a week. They sell their plans through a wide network of authorized sellers nationwide. Instead of third-party managers, ASE-certified claim adjusters are in charge of the fixes. Some customers commented on having had trouble with their claims being denied multiple times, confusing the process and delaying repairs and payments. Contacting customer service was tricky for some, and certain vehicle parts weren't covered. Some customers also didn't like the repair shops in PWI's network.

Quick Stats
  • BBB Rating : A+
  • Maximum Mileage : 250,000 miles
  • Money-Back Guarantee : Yes
  • Number of Plans Available : 5
  • Waiting Period : 30 days
  • Operating Status : Active
Quick Stats
  • BBB Rating : A+
  • Maximum Mileage : Undisclosed
  • Money-Back Guarantee : Undisclosed
  • Number of Plans Available : 7
  • Waiting Period : Undisclosed
  • Operating Status : Active
Selling Points
  • Services backed by industry standard-bearers like Kelley Blue Book, CARFAX, RepairPal, and Edmunds.com
  • Covers cars with up to 250,000 miles on them
  • Choose your own repair shop
  • Trip interruption reimbursement
  • Available in California and all states
  • Long contract terms of up to 10 years
Selling Points
  • Covers a variety of vehicles
  • You can use any repair shop of choice
  • Coverage begins immediately
Coverage & Plan Flexibility
  • High-mileage
  • Exclusionary
  • Powertrain
  • Undisclosed
    $0 deductible option
  • Commercial/rideshare
  • EV/hybrid components
  • Undisclosed
    No waiting period
  • Undisclosed
    Option with free maintenance benefits
  • Undisclosed
    Transferable
Coverage & Plan Flexibility
  • High-mileage
  • Exclusionary
  • Powertrain
  • Undisclosed
    $0 deductible option
  • Commercial/rideshare
  • EV/hybrid components
  • Undisclosed
    No waiting period
  • Undisclosed
    Option with free maintenance benefits
  • Undisclosed
    Transferable
Claims & Repair Experience
  • Undisclosed
    24/7 roadside assistance
  • Undisclosed
    Any licensed repair shop
  • Direct shop payment
  • In-network repair network
  • Undisclosed
    Mobile app for claims
  • Undisclosed
    Online claims portal
  • Undisclosed
    Trip interruption coverage
Claims & Repair Experience
  • Undisclosed
    24/7 roadside assistance
  • Undisclosed
    Any licensed repair shop
  • Direct shop payment
  • In-network repair network
  • Undisclosed
    Mobile app for claims
  • Undisclosed
    Online claims portal
  • Undisclosed
    Trip interruption coverage
Customer Support & Transparency
  • Phone
  • 24/7 customer support
  • Email
  • FAQs / Educational resources
  • Live Chat
  • Mobile Application
  • Undisclosed
    Online quote without phone
  • Sample contracts online
Customer Support & Transparency
  • Phone
  • Undisclosed
    24/7 customer support
  • Email
  • FAQs / Educational resources
  • Undisclosed
    Live Chat
  • Undisclosed
    Mobile Application
  • Undisclosed
    Online quote without phone
  • Sample contracts online
Contract & Payment Terms
  • Contract (lump-sum) payments
  • Undisclosed
    Pay-in-full discount
  • Month-to-month payments
  • Cancellation fee
  • Multi-vehicle discount
  • Price lock guarantee
  • *Not all payment methods are available in all states
  • *Some payment methods may incur additional fees
Contract & Payment Terms
  • Undisclosed
    Contract (lump-sum) payments
  • Pay-in-full discount
  • Month-to-month payments
  • Undisclosed
    Cancellation fee
  • Undisclosed
    Multi-vehicle discount
  • Price lock guarantee
  • *Not all payment methods are available in all states
  • *Some payment methods may incur additional fees
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