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
It's Five Nights at Freddy's Again! - 12th Jan 25
Squid Game Stock Market 2025 - 5th Jan 25
Stock Market Bubble Drivers, Crypto Exit Strategy During Musk Presidency - 27th Dec 24
Gold Stocks’ Remain Exceptionally Weak Even as Stocks Rise - 27th Dec 24
Gold’s Remarkable Year - 27th Dec 24
Stock Market Rip the Face Off the Bears Rally! - 22nd Dec 24
STOP LOSSES - 22nd Dec 24
Fed Tests Gold Price Upleg - 22nd Dec 24
Stock Market Sentiment Speaks: Why Do We Rely On News - 22nd Dec 24
Never Buy an IPO - 22nd Dec 24
THEY DON'T RING THE BELL AT THE CRPTO MARKET TOP! - 20th Dec 24
CEREBUS IPO NVIDIA KILLER? - 18th Dec 24
Nvidia Stock 5X to 30X - 18th Dec 24
LRCX Stock Split - 18th Dec 24
Stock Market Expected Trend Forecast - 18th Dec 24
Silver’s Evolving Market: Bright Prospects and Lingering Challenges - 18th Dec 24
Extreme Levels of Work-for-Gold Ratio - 18th Dec 24
Tesla $460, Bitcoin $107k, S&P 6080 - The Pump Continues! - 16th Dec 24
Stock Market Risk to the Upside! S&P 7000 Forecast 2025 - 15th Dec 24
Stock Market 2025 Mid Decade Year - 15th Dec 24
Sheffield Christmas Market 2024 Is a Building Site - 15th Dec 24
Got Copper or Gold Miners? Watch Out - 15th Dec 24
Republican vs Democrat Presidents and the Stock Market - 13th Dec 24
Stock Market Up 8 Out of First 9 months - 13th Dec 24
What Does a Strong Sept Mean for the Stock Market? - 13th Dec 24
Is Trump the Most Pro-Stock Market President Ever? - 13th Dec 24
Interest Rates, Unemployment and the SPX - 13th Dec 24
Fed Balance Sheet Continues To Decline - 13th Dec 24
Trump Stocks and Crypto Mania 2025 Incoming as Bitcoin Breaks Above $100k - 8th Dec 24
Gold Price Multiple Confirmations - Are You Ready? - 8th Dec 24
Gold Price Monster Upleg Lives - 8th Dec 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