What is a Car Warranty Extension or Extended Car Warranty?
A car warranty extension or extended car warranty is normally an extension of cover that is similar or like your manufacturer's warranty but with some exclusions for general wear and tear items (i.e glass, trim, paint, panel, tyres, exhaust and battery).
The cover provides for the repair or replacement of mechanical and electrical failure or breakdown.
Occasionally customers find themselves with an unexpected mechanical failure. Depending on the kind of failure, this may result in a substantial unplanned financial outlay. Eric Insurance offers a range of extended warranty options, which can provide you with protection for the costs of unforeseen mechanical failure during the period of cover.
You can start a quote here: https://mycarwarranty.com.au/start-quote/
Should I Buy a Car Extended Warranty or Warranty Extension?
Many consumers ask whether they should buy an extended warranty or vehicle warranty extension.
Consumers do have some rights under Australian Consumer Law and it's up to you to decide what this law protects you for and how long it may take to rectify the vehicle's problem.
Purchasing a warranty extension similar to or like your manufacturer's warranty cover can save a lot of time and effort and can get you back on the road as soon as the repair has been completed. Please read the relevant Product Disclosure Statement (PDS) for more information about the cover offered.
Can I Buy an Extended Car Warranty or Warranty Extension?
Dependent on the vehicle's make, model, age and kilometre eligibility, mycarwarranty.com.au will offer cover for terms ranging from 12 to 60 months.
Purchasing a warranty extension similar to or like your manufacturer's warranty cover that can save a lot of time and effort and can get you back on the road as soon as the repair has been completed. Please read the relevant Product Disclosure Statement (PDS) for more information about the cover offered.
Is an Extended Car Warranty or Warranty Extension Worth It?
Purchasing a car warranty extension or extended car warranty is a consumer’s decision. These covers can reduce the financial impact of car repairs following mechanical/electrical failure breakdown.
You should always consider the cost of the cover and the relevant Product Disclosure Statement (PDS) to make an informed decision.
What Sort of Warranty do you offer? Is it a ‘Component’ Warranty or Dealer Contract Warranty?
mycarwarranty.com.au offers extended warranty quotes from up to three different providers. All of the covers offered through the Website are either an 'Exclusion Warranty' or an 'Inclusion Warranty'. We are unable to provide a list of components that are covered so if the part is not excluded in the relevenat PDS, then it's covered. The Inclusion warranty's will have a specified list of parts covered. The Product Disclaimer Statement provides comprehensive definitions of all available coverages. Your policy will protect your vehicle in the event of a mechanical/electrical failure or breakdown.
A Dealer Service Contract Warranty may be offered to you when purchasing a vehicle from a motor trader. This type of cover means that you are obliged to take your vehicle back to the primary dealer each time you need your vehicle serviced, to ensure warranty cover. However, with the mycarwarranty.com.au cover through Eric Insurance, you'll have the flexibility to use the servicing technician of your choice.
For full details of servicing requirements, please read the section of the Product Disclaimer Statement by the same name.
What am I Covered for?
Once a manufacturer's or dealer's statutory warranty ends, your car can be left unprotected.
mycarwarranty.com.au provides insurance in the form of a warranty extension that will ensure your vehicle remains protected even after this date and based on the term you’ve chosen or the kilometre allowance provided. However, it is still important to know your rights under Australian Consumer Law. You can access these, once again, under the section in the Product Disclaimer Statement by the same name.
Read our Product Summaries and What Am I Covered for section.
What am I not Covered for?
The warranty does not cover general wear and tear items such as, (but not limited to), paint, trim, glass, exhaust, filters, hoses, batteries, globes and brake discs.
This is standard for the majority of car warranty extensions Australia wide, as these are considered expenses any car owner should reasonably expect. For all conditions, please refer to the Significant Features section in your respective Policy Disclosure Statement.
What are the Vehicle Servicing Requirements?
It is a condition of most insurance plans that the vehicle is maintained to a roadworthy standard, kept in a mechanically sound condition, and serviced to the Manufacturer’s recommendations. For these services and repairs, an authorised mechanic is required.
For recording purposes, Service Records must be completed, and stamped, each time servicing is done. The majority of vehicle servicing centre’s fulfil these requirements. However, should uncertainty arise, please contact Eric Insurance for further information.
Unfortunately, the owner, or owner's family members, are unable to completing servicing to the vehicle subject to this cover.
How does the mycarwarranty.com.au Warranty Extension compare to the Manufacturer’s ‘Branded’ Extended Warranty’s?
Most car manufacturers will employ an external insurer to underwrite their extended warranty programs. mycarwarranty.com.au provides a warranty extension similar or like the manufacturer’s warranty (excluding wear and tear) that, by viewing the Product Disclosure Statement, one can compare to the insurance offered by the individual car manufacturer.
To obtain this insurance, one may have to contact the manufacturer directly.
Can I Cancel my Warranty Cover and Policy?
Yes, during the cooling off period, and also during the policy cover itself, you can easily cancel your insurance.
A written expression is required for this, and needs to be sent directly to Eric Insurance. You can email them at cancellations@ericinsurance.com.au
Once again, a more detailed explanation can be located through the Product Disclosure Statement.
What if my Vehicle has not been Serviced According to the Manufacturers Guidelines prior to me Purchasing Cover?
If your vehicle has not been serviced to the manufacturer guidelines, we ask that you contact us via email (info@mycarwarranty.com.au) and supply photographic evidence of the service log history. Eric will then determine whether cover is available.
What Warranty Cover Periods do you Offer?
We have a range of options from 12 , 24, 36, 48 and 60 month terms.
What Payment Options do you Offer?
Premiums can be made in total through credit card, or, Eric Insurance offers a highly flexible 12 month instalment plan. Be aware, however, that there is an additional administration charge that comes with this option. Your specific monthly payment amount will be displayed alongside your quote.
For monthly instalments, payments will be provided by Eric Insurance. They will appear on your bank or credit statements as ‘Advance Premium Funding’ https://www.advancepremiumfunding.com.au.
After selecting the 12 monthly payment option and finalising your policy, you will receive an SMS to authorise the Direct Debit Process to commence your chosen coverage plan.
My Car is Still Under Manufacturers Warranty Cover. What Happens When it Ends and I Have Purchased Cover From mycarwarranty.com.au?
An Eric Insurance warranty extension will automatically cover you when the manufacturer’s warranty ends.
Please ensure you purchase the cover in adequate time prior to the manufacturer period ending to ensure automatic cover is applied.
I Purchased a Used Car from a Dealer Recently that has a Period of Manufacturer Warranty Cover Still Available. Can you Provide Cover?
An Eric Insurance warranty extension will automatically cover you when the manufacturer’s warranty ends.
Please ensure you purchase the cover in adequate time prior to the manufacturer period ending to ensure automatic cover is applied.
I Purchased a Used Car from a Dealer Recently and there is No Manufacturer Warranty Cover Still Available. Can you Provide Cover?
Depending on the type of sale, you may be entitled to receive a 90-day or kilometre limitation statutory warranty from the dealer.
An Eric Insurance warranty extension will provide coverage for your vehicle after the expiry of 90 days or the kilometre allowance reached; whichever may come first, in accordance with the coverage and limitations as detailed in the PDS.
I Purchased a Used Car Privately with Either Manufacturer/Dealer Statutory Warranty Available or no Manufacturer/Dealer Statutory Warranty. Can you Offer a Warranty Extension for my Car?
Good news, Yes.
As long as the vehicle is eligible for coverage (see product summary), then mycarwarranty.com.au can provide the coverage you desire.
This, however, will still be in accordance with the coverage and limitations detailed in the PDS.
It is important to be aware that no claims can be made within the first 90 days of your purchase.
Is the Warranty Extension Transferable if I Sell the Car?
Yes.
If you sell the vehicle during the period of insurance then you can transfer it to the new private owner.
Please be advised that an administration fee applies.
For a transfer request form, visit the policy purchase documents.
How do I Make a Claim?
Repairs to the car should not occur until Eric Insurance has been notified and the claim is assessed and approved.
In most instances, you can take your policy schedule to the repairer and they willf acilitate the claim with the insurer, on your behalf. Please be aware that some repairers will ask the consumer to faciltate the claim with the insurer as they don't have the time to action the claim.
Claims can be made online at Eric Insurance ericinsurance.com.au/support - Alternatively, they can be reached directly on 1800 999 977 by following the prompts.
What Happens After I Purchase a Warranty Extension from mycarwarranty.com.au?
Congratulations, you will have just purchased additional cover for your vehicle. After supplying the necessary policy information and payment details, a single PDF will be emailed to you that contains and explains the relevant documents:
POLICY SCHEDULE
This document will set out details such as:
- your name, address and other relevant information
- type of insurance cover provided
- location/details of what is being insured (e.g. make, model and identifying numbers of the vehicle)
- optional components of cover selected
- the premium payable
PRODUCT DISCLOSURE STATEMENT (PDS)
A product issuer may have brochures or booklets to promote their products, but the PDS is the most significant document. It contains general information on the policy and cover provided.
It will explain the conditions under which cover is provided, what cover is included and what is not included. It will not contain specific information about the you or what vehicle is being insured.
FINANCIAL SERVICES GUIDE (FSG)
An FSG must contain specific, up‐to‐date information and include the following:
- the title ‘Financial services guide’
- the name and contact details of the AFS licensee
- the purpose of the FSG and details of other disclosure documents that may be provided to the client
- the types of financial services and financial products offered by the AFS licensee
- the remuneration, commission and benefits you and the licensee will receive
- any relationships between you, or your licensee, and the issuer of any financial products that might influence your recommendationsinformation about the licensee’s dispute resolution system
- the date of the FSG.
Explanation of Australian Consumer Law
The Australian Consumer Law (ACL) is Australia's national consumer law, replacing previous consumer protection laws in the Commonwealth, states and territories. The ACL applies at the Commonwealth level and in each state and territory.
This guide: https://www.accc.gov.au/consumers/consumer‐rights‐guarantees/consumer‐guaranteesprovides information on the ACL for the motor car and motorcycle sales and repair industries.
It covers issues about which industry bodies have requested more detailed guidance and which consumers have frequently reported to national, state and territory consumer protection agencies.
This information will be relevant to:
- licensed motor vehicle traders (including of cars and motorcycles)
- mechanics and repair shops
- motor vehicle manufacturers
- motor vehicle industry associations.
The guide's main focus is on consumer issues related to defects and failures (both one‐off and repeated) in new and used motor vehicles.
In particular, it provides guidance on the legal rights and obligations created by consumer guarantees provided by the ACL. Remedies are available when motor vehicles do not meet the consumer guarantees in a way that is a:
- major failure
- minor failure that cannot be fixed, or
- minor failure that can be fixed but is not fixed within a reasonable time.
If you choose to purchase extended warranty cover, you will be purchasing protection for your vehicle in accordance with the terms and conditions outlined in the Product Disclosure Statement (PDS).
In some case this protection will overlap (partially or wholly) with the rights and remedies available to you under any applicable laws, including the Australian Consumer Law. Any rights or remedies you may have under any laws will not be affected by purchasing extended warranty cover and you are entitled to enforce those rights and remedies or rely on the protection provided by this policy at your discretion.
Although you are not required to pay for any rights or remedies you have under the Australian Consumer Law or equivalent rights and remedies, the amount you pay for the benefits under the extended warranty cover will not change to the extent that your rights under the Australian Consumer Law or any applicable laws overlap with such benefits.
A car warranty extension or extended car warranty is normally an extension of cover that is similar or like your manufacturer's warranty but with some exclusions for general wear and tear items (i.e glass, trim, paint, panel, tyres, exhaust and battery). The cover provides for the repair or replacement of mechanical and electrical failure or breakdown. Occasionally customers find themselves with an unexpected mechanical failure. Depending on the kind of failure, this may result in a substantial unplanned financial outlay. Eric Insurance offers a range of extended warranty options, which can provide you with protection for the costs of unforeseen mechanical failure during the period of cover.