Top-of-the-Line Coverage for slightly older vehicles.

While vehicle owners might be required to pay for occasional, incidental repairs, Premium Stated Component plans provide a broad blanket of protection against major repairs and many of the minor problems that can take drivers by surprise.

Vehicles that no longer qualify for full coverage (100,000-135,000 miles) find their highest value in Premium Stated Component extended service contracts. These policies cover all of the parts you know about, such as starters, suspension, brakes, etc. They also include many additional parts that are less common, but some high-tech and luxury parts might not be covered, depending on the extended service plan you choose.

All of the Premium Stated Component extended service contracts listed below also include “wear and tear” coverage. This ensures that whenever a part is performing below manufacturer’s specifications, the insurance company will pay for repair or replacement.

If the manufacturer specifies that the air conditioner will cool the cabin within 2 minutes, and cooling the cabin requires 5 minutes, then the insurance provider will fully reimburse the air conditioner repair. That is how a premium “wear and tear” policy works.

Each plan is unique, so find the highest value by comparing price and coverage in the plans listed below.

 Premium Stated Component Coverage Plans

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PLEASE NOTE: If your vehicle has a pre-existing condition, the insurance provider will not pay for repairs.

Unfortunately, some of our clients have bought a new extended service contract with the full knowledge that their vehicle is already in need of expensive repairs. This practice is all too common in our industry, and it only causes a headache for everyone involved – insurance provider and claimant.

First, we would like to say: We get it. No one expects a car breakdown or costly repair, and sometimes, paying to get the car back in running condition is financially impossible. That is why we offer great plans to our clients – so that accidents like these do not send people into debt or disruption. But if your vehicle has a pre-existing condition, and you intend on buying a new extended service policy to pay for the repairs, then we advise you take a step back.

An extended service contract is designed to pay for problems that might occur in the future, not to repair problems that already exist.

To protect their customers, extended service policies do not go into effect until the end of a mandatory grace period. Typically, this period lasts for 30 days AND 1,000 miles. After the contract is purchased, the vehicle needs to drive at least 1,000 miles, and at least 30 days need to pass before the contract will take effect. All damages suffered to the vehicle during the grace period are also not covered. The grace period is intended to be a detractor to would-be criminal activity.

Additionally, any claim made within 90 days of enrollment will be scrutinized by the insurance provider.

PayMyRepairs.com does not process or pay any claims. We bring together good customers and premium insurance providers. The insurance providers we broker determine whether your claim is eligible for reimbursement. We choose the most reliable, financially stable insurance providers in the market – who protect their well-intentioned clients by identifying pre-existing damages. With all the insurance fraud out there, our providers catch most would-be fraudsters in the act. Honestly, it isn’t worth the headache.