The chances of your car breaking down may be slim in your mind and you may feel you don’t need to pay for cover now that your car is out of the dealership’s warranty. However, the odds are stacked against you.

A British study by Warranty Direct showed that cars aged from three to 10 years of age will suffer a mechanical failure over the the course of a year with the average cost of fixing the fault £335 (R5,760.36). Usually the fault is electrical in nature, and this can get expensive.

Of course the the cost of fixing a fault can depend on the type of car you drive. However, the study points out that big bills are not only limited to prestige or expensive cars. Do you have close to R6,000 in the event that your car, which is out of its warranty now, breaks down?

If not, you should seriously consider covering yourself against breakdowns with a motor warranty product. A mechanical warranty can you save money as helps you cover those unpredictably high repair costs. The added benefit is that it can protect you from poor workmanship as the providers of the cover generally partner with reputable car repair workshops that uphold a certain standard and quality.  They in turn then get their customers to use the listed workshops and benefit from their care and service.

The Moneyshop has partnered with Bidvest Insurance and Hollard which both offer mechanical warranties for cars.

Here is a comparison of their products:

• 24-hour roadside assistance

• Dedicated help with a wide range of motor problems

     ○ Running out of fuel
     ○ Locking your keys in your car
     ○ Getting a flat tyre
• Car rental assistance
• Medical assistance
• Wide range of cover for cars and makes of all ages, including taxis

• Extended Motor Warranty Cover

     ○Unforeseen mechanical breakdown
(for cars less than 10 years old)
• Cover for up to 21 major components
• Free 24/7 roadside assistance
• Free towing and recovery
• Free breakdown assistance
• Free accommodation

Your car is one of your most important assets and if it breaks down it can have an impact on all sorts of things such as getting to work and getting your children to school and back. If you don’t have the savings to cover a major mechanical breakdown, then motor warranty cover could be a great money saver and life saver when things go horribly wrong.