Thousands of people rely on their vehicles daily for a variety of reasons: getting to work, dropping children off at school, shopping and many, many more. A vehicle is a lifeline for most of us and without our vehicles, we would be stranded.
But vehicles are machines which sometimes experience mechanical breakdowns. As your vehicle gets older, and increases its kilometres, its parts may break, increasing the chances of an unexpected failure.
Having your vehicle suddenly break down is not only stressful because you’re without transport, it can also be expensive to repair, especially if you haven’t budgeted for this unexpected repair cost.
In older vehicles, a manufacturer’s warranty may have expired, due to the age of the vehicle or it’s kilometers traveled, and the costs to repair the vehicle must be fully paid for by the owner.
CarLot SA has developed a new monthly insurance product in conjunction with our insurance partners, which addresses this issue, and provides peace of mind to owners in the event of a breakdown.
This warranty, or mechanical breakdown insurance as it’s also known, is an insurance policy that provides protection against the cost of parts and labor following mechanical or electrical or electronic failure of a covered part. It is designed to provide you with peace of mind in the event of an unexpected breakdown. It will not provide you with cover for maintenance on your vehicle. If you require this, you must purchase a maintenance plan that will provide peace of mind when a part breaks due to wear and tear.