Umbrella Warranty Enters The Auto Extended Warranty Market With Aviva

TORONTO - Sept. 6, 2015 - PRLog -- Umbrella Warranty Enters The Extended Warranty Market With Warranty From Aviva

Umbrella Warranty Ltd. (http://www.umbrellawarranty.ca) is a Canadian Corporation that markets easily understood and conveniently obtained vehicle mechanical breakdown coverage to vehicle owners. This program is eligible for vehicles that are up to 13 model years old or that have up to 200,000 km on the vehicle odometer. The warranty is available in a four tiered vehicle mechanical breakdown program and will commence and be effective after the manufacturer’s warranty has expired.

The warranty is provided by Aviva Warranty Services Inc., a member of the Aviva Canada group of companies. If a motor vehicle has a mechanical or component failure and is covered under an extended warranty, then the motor vehicle part is either repaired or replaced, depending on the type of coverage taken.

Aviva is one of Canada’s leading providers of insurance, covering homes, cars, recreational vehicles, groups and businesses. Aviva employs more than 3,000 people in over 25 locations and works with 1,700 broker partners serving over three million customers.

Research shows that keeping a car for eight or more years, rather than five, can reduce median ownership costs significantly. This is partially due to lower depreciation costs, and partly a result of keeping the car for a few years after the loan has been paid off. Depreciation makes up almost 60 percent of the cost in the first year and it is still the largest annual ownership cost for vehicles up to six years old. Cars cost less to own every year after that. For example, the average model costs almost twice as much to own the first year as it does the second year. The sixth, seventh, and eighth years combined about equal the cost of the first year and it is almost always less expensive to hang on to your current car than to buy a new one.

However once the manufacturer’s warranty expires, you have nothing to protect you from expensive vehicle repairs. Most vehicles come with a 3 year/60,000 km bumper-to-bumper warranty. Once that expires, you have no protection against breakdowns or failures. There are several important reasons to purchase an extended motor vehicle warranty. Your vehicle is a large investment and with just labor charges being as much as $110.00 an hour, one major repair often exceeds the price of an extended motor vehicle warranty. An additional advantage is that the warranty is transferable which increases the resale value of the car to potential buyers who like to avoid unforeseen mechanical bills.

However getting extended warranty coverage on the car against potential mechanical breakdown from the auto dealer can often be quite expensive. With Umbrella Warranty consumers could save up to 50% compared to the extended warranty programs offered by auto dealers. Umbrella Warranty Ltd. motor vehicle mechanical breakdown program assures that for a specified amount of time and/or mileage, both parts, labour and sales tax  required for replacement or repair of covered mechanical systems in your vehicle will be covered.