Mechanical Breakdown Insurance NZ

MBI

Car Mechanical Breakdown Insurance in NZ

Car Mechanical Breakdown Insurance in NZ

car repair

When you own a car, there are plenty of things to worry about, including the possibility of a mechanical breakdown. Unfortunately, car repairs can be costly, and if you don’t have the funds to cover it, it can be devastating.

That’s where car mechanical breakdown insurance comes in. In this article, we’ll explore what this type of insurance is, what it covers, and whether or not it’s worth it.

What is Car Mechanical Breakdown Insurance?

Car mechanical breakdown insurance, sometimes also referred to as an extended warranty, is a type of insurance that covers expensive mechanical repairs that aren’t covered by your car’s standard warranty. It can be purchased from most car insurance providers at an additional cost.

Unlike traditional car insurance, which covers damage to your car in the event of an accident, mechanical breakdown insurance covers repairs related to your car’s mechanical components. Depending on the policy you choose, it could cover everything from your engine and gearbox to your air conditioning and electrical systems. You can find a more detailed rundown of what MBI is here.

What Does Car Mechanical Breakdown Insurance Cover?

As we discussed earlier, car mechanical breakdown insurance covers repairs related to your car’s mechanical components. However, it’s important to note that not all policies are created equal, and what specifically is covered will depend on the policy you choose.

Here are some of the things that may be covered under a car mechanical breakdown insurance policy:

Engine Repairs

If your car’s engine fails, a mechanical breakdown insurance policy could cover the cost of repairs, which can range from simple repairs like replacing a spark plug to more complex repairs such as replacing the entire engine.

Turbocharger Repairs

If your car’s turbocharger fails, it can be an expensive repair, but one that may be covered by your mechanical breakdown insurance policy.

Transmission Repairs

If your transmission fails, it’s not something you can ignore. Gearbox or transmission repairs can cost thousands of dollars, but if you have mechanical breakdown insurance, you could potentially save a lot of money.

Electrical System Repairs

Modern cars have complex electrical systems, and if something goes wrong, it can be difficult and time-consuming to repair. However, if you have mechanical breakdown insurance, you won’t have to worry about the cost of repairs to your car’s electrical system.

Air Conditioning Repairs

If your air conditioning system fails, it can be frustrating, especially during the summer months. However, if you have mechanical breakdown insurance, the cost of repairs could be covered.

Is Car Mechanical Breakdown Insurance Worth It?

Whether or not car mechanical breakdown insurance is worth it really depends on a few factors. Firstly, you need to consider the age and condition of your car. If your car is relatively new and has an existing warranty, you may not need mechanical breakdown insurance.

On the other hand, if your car is older and you’re concerned about the cost of repairs, mechanical breakdown insurance can provide peace of mind. It could also be worth considering if you rely heavily on your car for work or commute long distances regularly.

It’s important to note that mechanical breakdown insurance can be expensive, so it’s important to compare policies from different providers to find the best deal. You should also ensure you’re aware of any excess you’ll need to pay if you make a claim.

Conclusion

Car mechanical breakdown insurance can be a wise investment if you’re concerned about the cost of future repairs. However, it’s important to read the terms and conditions of any policy you’re considering to ensure you fully understand what’s covered and what’s not.

If you’re in the market for a new car, you may also want to consider purchasing one with an extended warranty. This could save you money in the long run and provide peace of mind knowing that costly repairs will be covered.

Ultimately, it’s up to you to weigh the pros and cons and decide if car mechanical breakdown insurance is worth it for your particular situation. If you’re unsure, speak to your insurance provider or an independent insurance broker to explore your options.

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