Choosing a Vehicle Protection Plan Provider
Before you purchase a vehicle service contract, you must research your options well. Many companies and administrators are operating in the vehicle protection plan industry. Most companies offer at least one exclusionary plan and several other stated-components plans.
Although it is essential to consider the prices of a plan and know exactly what is covered (and what is not) under the plan and whether or not there are certain restrictive or prohibitive conditions (always read the fine prints) included, it is equally important to pay enough attention to the reputation of a company.
Know if a company enjoys good scores and ratings at top consumer review platforms like Better Business Bureau (BBB), Trustpilot, Google My Business, and Yelp. Check what customers are saying about a particular company.
In particular, keep an eye on whether or not a particular company receives enough positive reviews regarding claims processing and customer support. Below, we have prepared a carefully curated list of five top U.S. vehicle protection plan companies that enjoy great reviews across different consumer review platforms.
Top Vehicle Service Contract Companies With Best Reviews
1. Protect My Car
The company holds some of the best customer review scores and ratings of any VSC provider. It clocks a 4.2-star customer review score plus an A+ rating at BBB.
At Trustpilot, the company is appointed a 4.5-star rating based on 3,082 reviews. Apart from the low-cost products of the company, the reviewers sound particularly satisfied with the company’s fast and easy claims processing and its customer-friendly service team.
- Number of plans: three
- Availability: All US states except WA, OK, MO, HI, CA, and AK
- Maximum contract length: 125,000 miles
- Extra benefits: Towing coverage, 24/7 roadside assistance, 30-day money-back guarantee
2. CarShield
One of the largest VSC providers in the country, CarShield is another famous company for its highly affordable auto protection plans. The company enjoys a 4-star rating at Trustpilot, based on a whopping 30,806 reviews. This will give us a good idea about the size and scope of the company.
In comparison, CarShield has a surprisingly low rating at BBB, which can be attributed to the high number of customer complaints (close to 2,900) that have been lodged against the company in the past three years.
This may raise immediate concerns on the part of a prospective customer. However, put into context (number of policies sold versus the number of complaints), the numbers won’t appear that high.
As one company representative clarified, they have sold 1,118,296 contracts in the last three years. During that same time, 2,800 complaints have been lodged against CarShield at BBB, meaning only a tiny portion (less than 0.23%) of their customers have been unhappy with their service.
- Number of plans: 5 + 2 separate plans for motorcycles, RVs, and other non-standard vehicles
- Availability: All US states except California
- Maximum contract length: 300,000 miles
- Extra benefits: Trip interruption coverage, 24/7 roadside assistance, rental car reimbursement
3. CARCHEX
Another big player in the industry, Carchex, holds a BBB A+ rating with very few complaints lodged in the last three years. On Trustpilot, the company has a 3.1-star rating based on 1,467 reviews.
Although the Trustpilot overall rating may appear low for a company of its reputation, it must be noted that more than 86% of the reviewers on the site gave Carchex a rating of 4 stars or higher.
Besides the customer reviews, the company’s reputation can also be gauged by Carchex partnered with some leading companies in the U.S. auto and finance sector, including Kelly & Blue Book, Edmunds.com, and CARFAX.
- Number of plans: five
- Availability: All US states
- Maximum contract length: 250,000 miles/10 years
- Extra benefits: Trip interruption coverage, 24/7 roadside assistance, rental car reimbursement
4. Toco Warranty Corporation
Founded in 2013, Toco has become a significant player in the vehicle service contract industry in a short period. Backed by AmTrust Financial Services, the company has excellent reviews and scores to show for itself at sites like BBB and Trustpilot.
The company has a 4.5-star review score and an A+ rating at BBB, while at Trustpilot, it enjoys a stellar 4.8 average score based on 441 reviews. Most reviewers comment on the company’s convenient plans, excellent customer support, and no-delay claims processing. The company is also unique in offering protection plans for vehicles up to 20 years old.
- Number of plans: four
- Availability: All US states except WA, MO, and AK
- Maximum contract length: 175,000 miles
- Extra benefits: Trip interruption coverage, hotel, and motel discounts, 24/7 roadside assistance, rental car reimbursement
5. Veritas Global Protection
Another relatively new company, Veritas Global Protection, has grown in leaps and bounds since its founding in 2014. Already reputed as one of the country’s leading vehicle service contract providers, Veritas has also established a strong presence in Canada, Chile, and several other Central and Latin American countries, and through its partners WAGAS and Guarantec, in Europe.
This will give us a good idea of the company’s rapid growth, which, in the first place, has been made possible thanks to the company’s excellent reputation and high standing in the U.S. vehicle protection plan industry.
Many customers choose Veritas Global Protection because of its novel and innovative products and solutions. For example, given the growing popularity of hybrid cars, the company has introduced a new Veritas Electric Program for owners of electric and hybrid vehicles.
Similarly, it offers an affordable Exotic Vehicle Plan which is extremely popular among the connoisseurs of exotic and luxury vehicles. Apart from its unique range of products, the company’s popularity also depends mainly on its excellent customer and client service and its efficient handling of claims. As the company founder puts it, the total and absolute commitment to customer satisfaction is what drives the company forward.
Veritas Global Protection holds an A rating at BBB based on 240 customer reviews, and there have been very few complaints lodged against the company in the past three years.
Most satisfied customers comment on their positive experiences working with the Veritas Global Protection customer service team. In contrast, many others seem to be happy about the high limits of liability the company offers (Veritas offers maximum liability limits in the industry under its several different programs).
- Number of plans: six + two separate plans for RV and Powersport vehicles.
- Availability: All US states
- Maximum contract length: 100,000 miles/5 years
- Extra benefits: Trip interruption coverage, 24/7 roadside assistance, rental car reimbursement, nationwide protection, transferrable coverage