Planning your monthly car expenses is fairly simple. For most people who follow a weekly routine of driving to work and school and then home again, their monthly petrol usage tends to remain stable. And even though the fuel price does fluctuate on occasion, these changes aren’t necessarily dramatic enough to significantly affect their budget.
Other expenses occur less frequently but can be considered part of the normal cost of maintaining a car, such as regular servicing, paying your monthly car insurance, and occasionally buying new tyres or windscreen wipers.
The real difficulty with expense planning is when unforeseeable and costly maintenance problems happen. A mechanical breakdown can leave your car inoperable or unsafe to drive – and can be very expensive to repair. The labour costs alone of a mechanic or an auto-electrician can completely upset your budget, not to mention the expense of replacing automotive parts.
Budgeting for breakdowns
Fortunately, there are steps you can take to reduce or eliminate the financial strain of a vehicle breakdown or malfunction.
An extended car warranty insurance policy will cover some or all of the costs of your vehicle’s repairs. Particularly when the monthly contribution is consistent and moderate, an extended motor warranty makes budgeting for potential breakdowns simple and affordable.
Many car owners consider it essential to have car insurance in case their vehicle is stolen or damaged in an accident. An extended warranty gives you the same protection but specifically covers the cost of automotive breakdowns.
Get the right level of cover with an extended motor maintenance warranty
Many insurers offer extended motor warranty car insurance in several cover options so that you can get protection against mechanical breakdown at a price that suits your budget.
Generally, as long as your car is under ten years old and has under 200 000 kilometres on the clock, you can get breakdown protection for the rest of your vehicle’s life.
Vehicle maintenance
Extended motor warranty car insurance plans will cover the costs of repairing or replacing vehicle components in the event of a malfunction. Certain motor extender plans will even cover the cost of annual services. This helps with car maintenance and, by potentially preventing malfunctions, can ultimately save you money.
Roadside assistance
Along with the standard vehicle maintenance protection offered by extended motor warranties, many policies also include 24-hour roadside assistance. This can prove invaluable if your car breaks down, you lock your keys in the car or you run out of petrol.
Breakdown assistance also includes towing and, if you happen to be driving outside of your hometown, vehicle repatriation.
Prepare now, save later
Owning a vehicle is expensive enough. With an extended warranty car insurance policy, you no longer have to expose yourself to the risk of potentially crippling vehicle repair expenses.
Although car insurance covers the cost of accidents or theft, unforeseen automotive breakdowns can destroy your budget. Getting an extended car warranty from Hollard will cover you for any eventuality and protect your financial well-being.
Hollard Life Assurance Company (Reg. No. 1993/001405/06) is an authorised Financial Services Provider.
