Toco Warranty Corporation is a relative newcomer. It was founded in 2013 in California and is backed by AmTrust Financial Services. Despite being new, it has a solid reputation with an A+ rating from the Better Business Bureau. The company is known for offering affordable plans with no down payment and the ability to pay monthly to more easily fit the cost into your budget.
There are three Toco plans that are each designed for vehicles of a certain age and mileage. Newer, low mileage vehicles have access to more comprehensive coverage than those that are older and have already racked up the miles.
Here are the 10 most expensive repairs and how they’re covered under the three available Toco extended warranty plans.
(*) Brakes does not include: Pads, Rotors, Shoes and Drums
Toco offers mechanical breakdown insurance to California residents only. The vehicle must be less than 10 years old and have less than 70,000 miles on the odometer. It’s not technically a warranty, but rather insurance that covers certain repair costs to your vehicle. You can see a sample policy of this insurance product here.
This is the most basic plan from Toco. It’s available for vehicles as old as the 2001 model year with anywhere from 100k to 175k miles.
Drive Axle (Front and Rear)
4x4 Transfer Case
Seals and Gaskets
The Yellow plan is available for vehicles with between 60k and 100k miles and model years 2012 or newer. It’s a step up in coverage from the Blue plan with a wider range of covered components.It includes everything in the Blue plan plus:
Electronic High Tech
Technology Package (original factory installed)
Modern Features Package (original factory installed)
Taxes and Fluids
This is the most comprehensive plan from Toco and it's different from the other two. While those are stated inclusion plans that list what is covered, the Orange plan is an exclusionary coverage plan that instead lists what is not covered. The list of parts not covered by this plan includes:
Exactly how much your warranty will cost depends on your car. How old is it? How many miles does it have? These numbers are just a guideline. They were compiled from searching the internet for real quotes that were given to real Toco customers. Consider them a guide, but know your quote could vary considerably.
|Vehicle||Plan Name||Term||Total Cost||Deductible|
All you need to do is take your car to a licenced mechanic, repair shop, or dealership. They’ll assess your vehicle and reach out to Toco directly. Once the claim is approved, you pay the deductible and Toco pays the rest directly to the repair facility.
What disqualifies a car?
Non-covered parts. Warranties only cover specific parts, so if you get more fixed than what is approved, you’ll be paying the extra cost.
Poor maintenance. You have to take care of your car. If you don’t keep it maintained and something goes wrong, then that’s on you and the claim will be denied.
Commercial use. If you use your car for commercial reasons, then it isn’t covered and you risk a denied claim.
“I've had a Toco Warranty for about four years now. Their customer service is amazing. They are all kind, quick to respond and very knowledgeable…” - Betty, ConsumerAffairs
“I’ve been with Toco for 2 years and transferred it to my new car just last month. I am very happy with customer service, every time I call I get great service and never had a problem.” - Nancy, ConsumerReviewCenter
“Nice on the budget with the monthly payments. Great service also.” - Kirsten, Reddit
“Found a way to wiggle out of coverage for things that were clearly covered. Waste of money!” - Mike, ConsumerReviewCenter
“It said it covered the repair but it was just some of the parts, so I still had to pay part. Not happy.” - Jennifer, Reddit
It’s hard to decide if you should get an extended warranty. One of the biggest factors in the decision is your comfort level with unexpected repairs. If you’d rather just wait and see and you can easily budget for the unexpected, then an extended warranty isn’t necessary. If you’re losing sleep over the potential for repair bills, then the extended warranty is worth considering.
Vehicle reliability is also important. Some makes and models have more problems than others. If yours is one such vehicle, you may find an extended warranty pays for itself. There’s no guarantee, however, that you’ll need that warranty. You may end up buying one and never need to take advantage of the benefits.
A word of caution. Calls from anyone offering an extended car warranty out of the blue are almost always scams. Hang up. Do your own research and find a reputable warranty provider on your own.
Absolutely. Even though they’re newer, they have an A+ Better Business Bureau rating and are a legitimate company.
You can request an exact quote online or over the phone. What you pay depends on your car, but expect to get a quote that’s at least $1000.
Take your car to a licensed repair facility. They will call Toco for approval and receive payment directly. You just pay the deductible.
Yes, you can cancel the warranty but there may be a fee.
Extended warranties can help you save on repairs, but only if you need those repairs in the first place. If you don’t need them, then the cost of the warranty was a waste.
Yes. You can cancel or you can transfer the warranty to the new owner. There may be an administration fee with either option.
The best way to get a good price is to compare offers. We recommend reaching out to...