Posts Tagged 'coverage'

Members talk about MBP

We’re pretty proud of our auto warranty coverage, Mechanical Breakdown Protection.

But don’t take our word for it. Here are some stories from members that highlight the need for protection like MBP.

Advertisements

MBP works for auto mechanics, too

jimcorcoran

Fixing someone’s vehicle should be as quick and easy as possible. For Jim Corcoran, owner of Auto Tech in Jackson, “quick and easy” means working with American 1’s Mechanical Breakdown Protection (MBP).

Corcoran says American 1’s MBP coverage is the best he deals with.

“We work with three or four different warranty companies, and this product is the best,” he says. “It’s the best for members and the best for us.”

The entire process, from a member bringing in their vehicle to Corcoran handing back the keys, is straightforward. Members with MBP bring in their vehicle for repairs, Corcoran runs a diagnostic system, then calls the warranty company to find out what’s covered.

“MBP covers just about everything,” he says.

Next, Corcoran faxes over the work order and, not long after that, he receives his payment.

“We’ve built a relationship with this company,” Corcoran says. “So we’re not waiting two days for payment authorization. It gets the member in and out.”

MBP even covers the little things, Corcoran says, like diagnostics and sales tax. He says it also covers twice as much as the next-best warranty for the same price.

“I get reactions like, ‘Wow, I didn’t think they’d cover that,’” he says.

And no deductible means members walk out with no out-of-pocket cost.

Since it makes everything easier, from making repairs to receiving payment, Corcoran recommends MBP to every American 1 member.

MSN: GAP coverage is a good idea

MSN Money’s Liz Pulliam Weston, in “Why a wrecked car could cost you,” lays out why it’s good to have Guaranteed Asset Protection (GAP) coverage on your auto loan.

Because of dropping vehicle values, what you owe on your car could be more than what an insurance company will pay you for a wrecked or stolen vehicle:

Even if you made a big down payment, you still could be upside down on your loan or lease because resale values have plummeted so quickly.

Volatility in resale prices started last year, when gas prices spiked, hurting sales and values of bigger, gas-guzzling cars, said James Clark, the general manager for ALG, which publishes the Automotive Lease Guide.

Weston also notes that getting GAP from the dealership is “probably the most expensive choice.”

We have numerous stories about how GAP has helped members regain their vehicle investment. In the end, it’s affordable protection that can help cover the cost of your auto loan if the unthinkable happens.