Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stocks, Bitcoin and Crypto Markets Breaking Bad on Donald Trump Pump - 21st Nov 24
Gold Price To Re-Test $2,700 - 21st Nov 24
Stock Market Sentiment Speaks: This Is My Strong Warning To You - 21st Nov 24
Financial Crisis 2025 - This is Going to Shock People! - 21st Nov 24
Dubai Deluge - AI Tech Stocks Earnings Correction Opportunities - 18th Nov 24
Why President Trump Has NO Real Power - Deep State Military Industrial Complex - 8th Nov 24
Social Grant Increases and Serge Belamant Amid South Africa's New Political Landscape - 8th Nov 24
Is Forex Worth It? - 8th Nov 24
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Don’t be Another Statistic! Take out an Extended Warranty

Personal_Finance / Insurance Jun 30, 2021 - 05:48 PM GMT

By: Sumeet_Manhas

Personal_Finance

There are few things in life more frustrating than having your car breakdown. It always seems to happen at the worst possible moment and it can occur at any moment in a car’s lifetime. Statistics show that there are a staggering 250,000 breakdowns on motorways alone along with an estimated 2.5 million roadside assistance callouts each year - this equates to 7,000 a day. You won’t want to be stranded on the side of the road and footing the bill, which is why you need an extended warranty.


Lack of Maintenance
So, why are so many people experience breakdowns? There are many reasons why this occurs and often it comes down to a lack of maintenance. Many motorists these days do not perform basic car maintenance themselves, which might include topping up the tyres, changing the engine oil and checking the battery. Many motorists have insurance that covers roadside assistance, but prevention is better than a cure which is why motorists should learn and practice basic maintenance.

Tech & Electrics
Many callouts are made due to the fact that modern cars have a wide range of tech and electronics, which can malfunction and create difficulties for motorists. Following this, a lot of callouts are actually avoidable and issues that could easily be resolved by the driver - these are known as driver errors and thought to be responsible for around 65,000 callouts annually.

Battery Issues & Flat Tyres
The main causes of breakdowns, meanwhile, are faulty batteries and this is why the battery needs to be maintained and cars should not be left unused for too long. Flat tyres are the second most common reason, but again this is an issue that could often be avoided by keeping tyres topped up and checking regularly for signs of damage (as well as checking the tread depth).

Protect Yourself
With thousands of people breaking down every day, it is clear that motorists need to have protection in place in the form of a warranty. The manufacturer warranty only lasts for a few years after which you will be on your own and you certainly don’t want to have to foot the bill for roadside recovery and repairs.

This is why motorists need to arrange an extended warranty once the original manufacturer one has ended for protection against electrical and mechanical breakdowns. You should always check over any warranty carefully and look for ones with fewer exclusions and extras like onward travel costs.

Cars can breakdown and this can be a huge inconvenience. It can also cost a fortune when you consider the cost of roadside recovery, parts and labour and this is why extended warranties are so important for every motorist. It is better to be safe than sorry when it comes to warranty protection, but you always need to shop around to ensure that you are getting the best level of cover.

By Sumeet Manhas

© 2021 Copyright Sumeet Manhas - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in