Protecting Your Automotive Asset: Unveiling the Hidden Expenses of Car Maintenance
By Jim Donaldson, General Manager of Mercury Mechanical Protection
In the dynamic world of automobiles, the integration of advanced technology has brought about a myriad of benefits. However, this progress has also led to an increase in repair costs, a challenge in the car ownership industry.
In recent years, the average severity of a repair claim has nearly doubled, rising from under $1,000 in 2019 to approaching $2,000 currently. This trend is a direct result of the sophisticated technology now integrated into modern vehicles. A single failed component, such as a front-facing camera, can result in repair costs of thousands of dollars due to the need for specialized labor and equipment.
The high costs of repair are a significant concern for car owners' finances. To help alleviate this burden, Mercury Protect offers a solution: Mechanical Breakdown Insurance (MBI). Similar to a Vehicle Service Contract (VSC), MBI provides a financial safeguard against sudden, budget-breaking expenses. Offered exclusively to residents of California, MBI is a regulated insurance product that offers a reliable safeguard against unforeseen repair costs, subject to the same oversight as other insurance products.
California residents have several providers to choose from, including Endurance Warranty, Progressive (also through their partnership with Good Sam), Ox Car Care, and autopom. Endurance offers multiple coverage plans from Standard to Elite Plus, tailored for California vehicles. Progressive provides standalone MBI and add-on vehicle protection plans. Ox Car Care, a California-based company, offers three plans with roadside assistance included. autopom sells MBI as well, with strong partnerships and certified repair facilities.
For those living outside California, a VSC is another option. This contract covers the cost of parts and labor for covered breakdowns, offering a predictable monthly payment that replaces the risk of a single, massive repair bill.
Mercury Protect's flexible plans are designed to help you budget for repair costs and protect your investment for years to come. By securing a VSC or MBI, you can rest easy knowing you're prepared for whatever the road ahead may bring.
For more information about Mercury Protect's claims experience, please visit our website. Together, let's navigate the high costs of repair in the car ownership industry with confidence and peace of mind.
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