Toco Warranty Review: Pros & Cons
Updated: August 30th, 2023
Toco Warranty Corp. set its sights on revolutionizing auto warranties after identifying a major issue in the industry: the affordability barrier of paying upfront for a three-year protection plan. To address this, it introduced a true month-by-month subscription to reduce the financial burden. This BBB-accredited company provides vehicle service contacts (VSCs) and mechanical breakdown coverage to private individuals and businesses alike.
What Is Toco Warranty Corp.?
Headquartered in West Hills, California, Toco was established in 2013 on the basis of affordable car warranties and exceptional service. They promise “easy, affordable, and stress-free” services, as customer satisfaction drives all of their decisions, laying a foundation of transparency and accountability. They aim to exceed expectations and maintain the highest level of service, no matter the circumstance.
Perks & Benefits
There are numerous privileges you are entitled to once you get a Toco warranty subscription, such as high mileage coverage and high-tech component coverage, hybrid car coverage, and in-house plan management, among many others.
Extensive mileage coverage
Toco's commitment to safeguarding high-mileage vehicles shines through, especially when looking at their Green plan. With coverage extending up to 250,000 miles, Toco’s reliable protection ensures you’re covered whether you’re commuting within the city or traveling across states.
Inclusion of high-tech components
Most of today’s cars are equipped with high-tech components tailored to the comfort of passengers. Toco's coverage stands out by including these high-tech components, setting it apart from conventional extended warranties. With their technology and modern feature packages on top of electronic coverage, their plans can cover all, if not most, of your modern comforts.
Hybrid vehicle coverage
As the auto industry moves toward a more sustainable future, hybrid cars are becoming more popular. Toco acknowledges this shift by offering coverage for hybrid vehicle components, from electric and hybrid vehicle motor assemblies to regenerative braking systems, assuring customers that their eco-friendly vehicles are protected.
In-house plan management and distribution
As a direct provider of their extended warranties, Toco guarantees a smooth and effective experience for its customers. Managing all aspects directly leaves Toco with the room to cut out intermediaries from claim submission to customer support. This allows them to deliver an interactive and swift service which promptly addresses concerns to ensure the best customer experience possible.
Toco At Work
To fulfill its mission of providing the best services to the largest audience, Toco made a plan called Toco At Work, which allows companies to offer their employees vehicle service contracts to ensure that they get to work safely and on time.
Live chat option
Toco's website offers a user-friendly live chat option to aid you in navigating their contracts and website. If you're a customer looking for specific information, the best way to find answers to your questions is through their dedicated customer service representatives. These customer service representatives are available during their working hours, from 7:00 AM to 3:00 PM.
24-hour roadside assistance
Toco’s 24-hour roadside assistance shows their commitment to continuously providing their customers with peace of mind. No matter the time of day or the day itself, you can trust that they have your back.
Rental car reimbursement
While your vehicle is at a licensed repair shop for covered repairs, Toco will allow you to rent a replacement vehicle from a licensed rental agency for a maximum of $40 per day for every 4 repair hours, up to a maximum of $200 total. Keep in mind that no deductible applies for this perk.
Trip interruption coverage
Should a covered vehicle break down occur over 100 miles from home, Toco’s trip interruption services will reimburse up to $100 a day for hotel and restaurant expenses for a maximum of three days.
Repair facility choice
Toco makes sure that their customers are not bound to specific repair shops or dealerships, allowing them the freedom to choose the repair facility they prefer. Toco will pay the mechanic of your choice directly at the time of repairs. It's important to note that there's a mandatory waiting period before Toco's warranty coverage kicks in.
While the benefits are numerous, it's important to pay attention to the setbacks that come with subscribing to Toco’s contracts.
Although Toco aims to offer comprehensive coverage to a wide range of customers, their services do not extend to Alaska, Missouri, or Washington. Such geographical restrictions might create problems for customers who want to move to these states or for people who plan to visit for vacation.
Unlike most extended warranties, Toco’s contracts are not transferable. This is mainly due to the fact that its services operate on a month-by-month subscription basis, meaning that the contract will automatically renew every month for 48 months until you cancel it. This might create problems for customers, as they might not be able to cancel in the middle of the subscription month, forcing them to wait for the beginning of the new one or the end of the current one.
Rigid deductible terms
While Toco’s coverage serves as a safeguard against unexpected repair expenses, it's important to be aware that each claim will require a $100 deductible. This means that you will pay at least $100 out of pocket for minor and major repairs before coverage begins to take effect.
Limited freedom of choice
Toco Warranty has fixed plans for different mileage tiers, meaning that the plan you get is predetermined based on your vehicle mileage. For example, if your car has only accumulated 40,000 miles, you don't get to choose whether you want the Green, Blue, or Yellow plan; instead, you are forced to choose the exclusionary Orange plan. that is because the Yellow and Blue plans are reserved for higher-mileage cars, while the Yellow plan is for cars that have accumulated 100,000 to 150,000 miles.
Toco Warranty Plans & Services
Toco caters to diverse needs with their four plans that provide different levels of coverage, starting at zero miles and setting the limit at 250,000 miles. These plans cover numerous components, depending on the make and mileage of your vehicle. Keep in mind that the pricing listed on some of the plans is an estimate based on existing data from customer reviews and external data on the internet. To get accurate information and pricing, customers should reach out to Toco for a quote that fits their car.
The Green plan: This plan is the equivalent of a typical powertrain plan offered to high-mileage vehicles; it covers basic components such as the engine, transmission, drive axle, and transfer case.
The Blue plan: A tier above the Green plan comes the Blue plan. This plan covers everything included in the Green plan in addition to other critical components and systems, such as electrical components, cooling systems, and fuel systems. This plan typically lasts for 48 months and has a price range of $90 to $100.
The Yellow plan: The second-to-best “Yellow” plan covers many components like technology and modern features, steering, brakes, and suspension on top of what's already covered in the Blue and Green plans. This plan's pricing ranges between $70 and $80 and lasts for 48 months.
The Orange plan: This is the best level of coverage you can get from Toco Warranty; this exclusionary coverage takes care of everything that is not listed in the exclusions section of the contract, including wear and tear, maintenance services, breakdowns resulting from collisions, etc. The rest of the Orange plan exclusions are listed in their sample contract. The pricing for this plan falls within the range of $50 to $70 and lasts for 48 months.
Before making any purchasing decisions, make sure to read the auto warranty contract's fine print to be fully aware of the ins and outs of the contract.
Is My Car Eligible for a Toco Warranty?
There are certain qualifications that you must maintain for your car to be eligible to enroll in a Toco warranty plan. The main ones are adhering to your car's maintenance schedule and ensuring that the vehicle does not exceed 250,000 miles.
Is It the Right Choice for You?
There’s no company that fits all, and Toco is no different. With its extensive technology coverage, Toco clearly caters to luxury and hybrid car owners, along with frequent travelers.
Luxury car owners
Luxury car owners are accustomed to high-tech surroundings, and what better way to maintain such luxury at a lower cost than to get a warranty catered to them? With Toco’s Yellow plan, high-tech luxury systems like graphic equalizers, audio/video equipment, and all touch-screen or voice-activated accessories are covered.
With Toco’s high mileage coverage, traveling has never been safer. Whether you’re taking road trips, exploring new places, or simply commuting, with the Green and Blue plans, you can rest assured knowing that their roadside services will keep you on the road.
Hybrid car owners
While it's rare to find an extended auto warranty provider that covers hybrid vehicle options, Toco manages to fill the niche. With its hybrid vehicle option included in all their plans, it covers crucial hybrid parts such as the electric motor, power controller, hybrid vehicle generator assembly, etc.
Money-conscious customers often find themselves hesitant to invest in an auto warranty due to the down payment attached to it; they might see it as an extra financial burden that could strain their budget. However, Toco's monthly subscription addresses this concern directly by ensuring that such expenses are manageable.
Toco Warranty Reviews
Across the board, Toco’s customer reviews seem very positive. Notably, they've achieved an impressive A+ rating and a 4.06/5 score on the Better Business Bureau (BBB), while on Trustpilot, their reputation seems just as solid with 4.5/5 stars. Consistently, the overwhelming majority of reviews on BBB and Trustpilot compliment their great customer service and their staff, while some praise their swift response to handling claims and their consistent follow-ups.
One customer on the BBB in particular stated that Toco covered an unexpected wheel bearing issue, which left him to only pay the deductible and taxes. He also mentioned that they covered multiple other issues without any hiccups on Toco's end. He also warns people to familiarize themselves with the contract and advises them to be aware of what the repair involves because some parts and components are named differently in the contract. For example, this customer was able to mediate a repair that was cancelled because the repair shop called it a name that's not in the contract but found that this particular part goes by another name identical to the one in the contract.
While the overall sentiment leans toward positivity, it's crucial to highlight the negative reviews that raise concerns about long waiting times, having their car withheld for up to a month only to end up being denied the claim, or, in some cases, being put on hold for 30 minutes. Many negative reviews also complain about Toco paying the minimum and only covering a small percentage of the repairs.
When examining the complaints, a common point of emphasis becomes evident: Toco consistently denies claims, often due to challenges in validating maintenance receipts given by customers. Several customers highlight Toco's history of rejections, even for maintenance records certified by ASE.
It's important to look at a large sample size of reviews before making your final decision in order to make the best choice.
To file a claim or for general inquiries, you can directly contact Toco Warranty via email at [email protected] or by phone at (855) 298-8626. Additionally, you can leave a comment or a private message on their Facebook, Twitter, YouTube, or LinkedIn. Their working hours are Monday through Friday, 7:00 AM to 3:00 PM.
Toco Warranty’s innovative approach aims to transform the vehicle protection industry by introducing a subscription model that can ease financial burdens. The benefits they offer, such as tailored plans, direct provision of service, high mileage, and high-tech component coverage, make them ideal for luxury car owners, frequent travelers, and hybrid car owners. However, their lack of coverage in certain areas, non-transferable contracts, and fixed deductibles set them back. Despite such setbacks, Toco’s standing in the industry remains solid, with overwhelmingly positive reviews on trusted review websites.
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