Do you need an extra car repair policy?


by Mike Randles on Jan 21, 2011

From a recent Yahoo! Finance Article by Jay MacDonald, On Wednesday January 12, 2011, 6:00 am EST 

Want to keep costly auto repairs from breaking your budget after your manufacturer's warranty expires? One option may be mechanical breakdown insurance, or MBI, a little-known insurance product that acts like an extended warranty on new and used vehicles but with several advantages, including payment terms, that may make it a good choice for some.

Unlike a manufacturer or dealer warranty, MBI is an insurance contract between the car owner and the insurance company, overseen by state regulators and backed by state insurance guarantee funds. Think of it as auto repair insurance. Policies are available through licensed property and casualty insurance agents, credit unions, finance companies and online.

MBI isn't new, but it has gained traction during the recession as drivers keep their vehicles longer between purchases.

"We're getting more and more requests for it," says Michael Randles, president of Insurance Center Associates of San Pedro, Calif., which sells several MBI products. "I think people want to insulate themselves against future problems. They aren't getting a new car every two or three years now, and because of that, they want to get a five- or six-year, 100,000-mile policy."

For the entire Yahoo! article click here:

Or More info our Site:  


Bookmark and Share

Bookmark and Share

« Back to all news

Refer a friend & earn a gift

If we write your friend's insurance, we'll send you two movie tickets.

Refer someone today

We represent fine companies like

Safeco Insurance, Member of Liberty Mutual Group

Visit our mobile site on your phone today and bookmark it for future use.

Not sure where to start? Browse our Information Center to learn all about your insurance options.

50% of our business comes from client referrals. Contact us today and we'll show you why that is.

Our locations:

Harbor Insurance
1622 S. Gaffey #104
San Pedro, CA 90731


C & S Insurance
3220 Sepulveda Blvd #202
Torrance, CA 90505