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  1. SHANKAR NAIK
  2. Finance, Insurance
  3. Thursday, October 15 2020
What is the difference between a car warranty, car extended warranty and car insurance? Why will have to pay for both?
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Hello,

Car Warranty is a Service Contract between Manufacturer and Customer which includes repair or replacement due to fault in Mechanical Parts, Electrical System, Emissions or as any other part / equipment as agreed by manufacturer for replacement due to pre-mature fault

Car Insurance is a Risk Contract in between Insurance company and insured (i.e. Owner of vehicle) related to bearing cost for repair or replacement due to Accidents or cover for Theft of vehicle. It does not cover in any replacement due to technical fault as scope of coverage would be to risk related to accident / theft of vehicle

While its mandatory to take Car Insurance, but Warranty is what optional
Even in Insurance, one has choice of going for
> 3rd Party
> Comprehensive
> Zero Depreciation with add on plans

Hope should help


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