Olive Auto Warranty: The Complete Review!
Olive is a fresh entrant to the auto warranty industry, having launched in 2020. Despite its recent arrival, the company has already made a significant impact in the market and established itself as a reputable and reliable provider of auto warranty services. Whether you drive a new or pre-owned vehicle, Olive offers comprehensive protection against the financial burden of unexpected auto repairs.
Olive is a relatively new player in the auto warranty industry, having rebranded as a digital-focused company in 2020, but it has deep roots in the industry since its affiliated companies have been in business since 2000. Initially, the company offered mechanical breakdown insurance (MBI) in California, but quickly expanded its services to provide extended auto warranty coverage across all states.
One of the things that sets Olive apart from other companies in the industry is its unique subscription-based billing plan, which allows customers to subscribe and cancel at their convenience. Additionally, Olive's website is user-friendly and easy to navigate, making it simple for customers to learn about the company's warranty plans and how to purchase an extended warranty for their vehicle.
Obtaining an extended auto warranty through Olive is also a convenient process, as the entire process can be done online. Furthermore, there is no waiting period, and no inspection for pre-existing repairs is required.
Olive has several accreditations as well as positive customer feedback.The company is accredited with the Better Business Bureau (BBB) and has an A+ rating. It also has a rating of 4.7 out of 5 stars in customer reviews on Google.
One more thing that Olive's founders and team understand is how annoying and intrusive robocalls can be, and thus, you will never receive robocalls for auto warranties from this company. Olive’s auto warranty plans are administered by QBE, a multinational insurer and warranty company with an impressive rating of A+ from Standard & Poor's and an A from AM Best. Overall, Olive is a unique and reliable auto warranty provider that offers comprehensive and convenient coverage options.
Olive offers three extended warranty plans that cover up to three years at a time and/or until you reach 185,000 miles. These plans differ in the coverage they offer as follows:
Olive Extended Auto Warranty Plans
This plan covers:
- Drive Axle
- Air and Fuel Systems
- Seals and Gaskets
This plan covers everything in the Powertrain plan plus the following:
- Odometer and Speedometer
- Front Suspension
- Brakes (no rotors or pads)
- Air Conditioning
- Electrical Components
This plan covers everything in the Powertrain and Powertrain Plus plans plus the following:
- Anti-Lock Brakes
- Power Windows and Locks
- Luxury Electronics
- Emissions Components
- Safety Systems
To make things even better and make breakdowns less of a hassle, Olive provides more benefits and extra services. All of the plans above come with towing reimbursement of up to $100 per breakdown.
These plans also come with rental car reimbursement as follows:
- It covers up to $35 per day for 5 days.
- It covers an extra 2 days in case Olive requires an inspection of the breakdown.
- It applies to breakdowns that are covered by Olive or by your car’s manufacturer.
What Olive Auto Warranty Does Not Cover
As is the case with most auto warranty companies, Olive does not cover repairs for pre-existing conditions. As mentioned before, the company does not require inspection for pre-existing conditions before agreeing to the plan, and so they make it very clear to their customers that any conditions existing prior to the plan cannot be included. The website clearly states:
"Olive coverage excludes any pre-existing conditions or modifications whether known or unknown prior to your coverage starting."
Other things that Olive's extended warranty plans do not cover include:
- Wear items (wiper blades, brake pads, belts, and hoses).
- Regular maintenance (oil changes, filter changes, and so).
- Damage that happens due to accidents, misuse, or lack of maintenance.
- Environmental damage.
- Damage from theft or vandalism.
- Vehicles used for commercial services.
According to the company's official website, the costs and prices vary between $30 and $80 per month. However, after doing our research, we found out that prices can range from as low as $20 to more than $100 in some cases.
The money is paid monthly over 36 months for the whole warranty term or until you decide to cancel the contract, if ever. Since you do not pay the money all at once but rather pay monthly, you can cancel your contract at any time, just like you can cancel a monthly subscription. If you decide to cancel your contract within 30 days, you will get a full refund. However, if you do cancel your contract after that, you will get a prorated refund.
If you look at Olive's prices in comparison to those of other auto warranty companies, you will find its costs quite affordable. While prices may vary according to your car and needs, the average for this company is around $65 per month. Meanwhile, the average monthly payment for all other extended auto warranty companies in the industry is around $115.
Given that the average monthly payment is somewhere around $65, the whole plan would cost somewhere around $2,340 for the three years ($780 per year). However, as mentioned before, plans can cost much less, and your plan could start at around $750 for three years of coverage, which is $250 per year, and this is a great price.
As for deductibles, there is no $0 deductible option; Olive's auto warranty plans provide three options for that: $100, $250, and $500. Every time you go to a repair shop, you pay this deductible. And of course, as it goes, if you choose a higher deductible, this will lower your monthly payment, and vice versa. This means you have three plans and three deductible options, which gives you the space to choose between nine total price points.
Olive's customer support is actually one of a kind. For starters, you can find a whole page on the website dedicated to frequently asked questions regarding extended auto warranties in general and Olive's auto warranty plans in particular. Another helpful source is Olive's blog page; you can find multiple blogs regarding the extended auto warranty there.
If you still can't find an answer to your question, you can contact Olive's customer support as follows:
- Email them at [email protected]:
- Mon-Fri 5:00 a.m. – 8:00 p.m. PT
- Sat-Sun 9:30 a.m. – 6:00 p.m. PT
- Call them at 866-609-9127 from Mon - Fri from 7:00 a.m. – 6:00 p.m. PT.
- Live chat 24/7.
Finding the right auto warranty company will save you lots of money that you would otherwise have to spend on your car every time it breaks down.
Olive is actually at the top of the list of the best auto warranty companies in the industry. It has some of the most affordable prices, the best plans, and the most helpful customer service.