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CarShield’s Platinum coverage is geared toward high-mileage vehicles and protects various components related to the powertrain and the electrical system exhaust transducer
Alex Carver is a writer and researcher based in Charlotte, N.C. A contributor to major news websites such as Automoblog and USA Today, she’s written content in sectors such as insurance, warranties, shipping, real estate and more.
Rashawn Mitchner is a MarketWatch Guides team editor with over 10 years of experience covering personal finance and insurance topics.
Drivers looking for a higher level of coverage for used and older vehicles should consider CarShield’s highest level of inclusionary coverage, the Platinum plan . In this article, we at the MarketWatch Guides team will provide an overview of Platinum coverage, along with the details of the warranty’s cost and benefits. You can find out more about CarShield in our review of the best car warranty companies .
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The CarShield Platinum plan offers the highest level of inclusionary coverage of any CarShield plan. It’s best suited for used and older cars with higher mileage and provides stated-component coverage, meaning components that are covered are listed in the service contract.
While this plan isn’t quite as comprehensive as the Diamond plan, both are similar in that they’re comprehensive and provide coverage for most of your vehicle’s systems. The Platinum plan isn’t a bumper-to-bumper warranty like the Diamond plan or a powertrain warranty like the Gold plan, but you can compare the two general warranty types below.
Since the Platinum plan is geared toward high-mileage vehicles, it mainly covers components that tend to experience more issues over time. The contract explicitly lists every item that is covered under warranty, including the:
The table below highlights covered auto repairs for the CarShield Platinum plan.
All exclusions are clearly outlined in the Platinum vehicle service contract underneath each covered component. You can find sample contracts for each CarShield warranty plan on the company’s website.
CarShield clearly outlines what is and isn’t covered under the Platinum extended service plan in its sample contracts.
Platinum coverage doesn’t cover wear-and-tear parts or damages from:
Remember that your contract can also be negated because of street racing or extensive filth.
Based on research conducted by our editorial team, we found that CarShield plans generally cost about $110 to $150 per month. The third-party extended warranty provider offers discounts and promotions, so your extended warranty cost may be cheaper or more expensive than this depending on several factors.
Drivers who purchase the Platinum plan will have their choice of a $0, $50, $100 or $200 deductible. Keep in mind that the lower your deductible, the more you’ll typically have to pay for extended warranty coverage. In most cases, the down payment for CarShield plans is the first month’s payment.
To get the best price for your CarShield Platinum plan, don’t be afraid to negotiate. Before you sign on the dotted line, we recommend researching the best extended car warranty plans.
In our experience getting quotes from CarShield, the sales personnel are helpful and able to negotiate to get your business. The first price you get is probably not the lowest you’ll receive. If you say you’re shopping around and are apprehensive about starting a plan, you can often get a better price.
Your rates will be affected by your car’s age, mileage and model, plus the deductible you choose with CarShield.
CarShield stands out as one of the best extended warranty providers because of its monthly payment options. Your CarShield contract can be paid on a month-to-month basis instead of up front. This gives you additional flexibility if you decide you no longer want your plan as you’re not locked in long term.
However, since CarShield’s month-to-month contracts continue as long as you want, the total cost can become expensive for long-term plans. For example, Endurance charges an average of $3,144 for a two and a half year plan which is about $6,000 for a 5-year plan, while CarShield charges $150 month-to-month. Endurance’s plan may seem expensive at first. That said, if you pay $150 per month for 5 years you’d end up paying $9,000 in total.
In addition to the CarShield platinum coverage and cost information above, there are other things worth knowing about the vehicle service contract. The sections below will provide information on Platinum plan benefits, coverage transferability and the waiting period.
As is the case with other CarShield extended warranty plans, the Platinum plan comes with several additional benefits you can take advantage of in the event of a mechanical breakdown. These perks require prior authorization and include:
In addition to these perks, the CarShield Platinum plan comes with a 30-day money-back guarantee if you decide you no longer wish to have your vehicle covered under a protection plan.
As a third-party extended warranty provider, CarShield gives you greater flexibility if you need car repairs. You aren’t limited to taking your car to a dealership, as you are with a manufacturer warranty. CarShield customers can take their vehicles to any repair shop certified by the National Institute for Automotive Service Excellence ® .
In most circumstances, CarShield will let you transfer your Platinum plan to a new vehicle owner. The approval of the transfer, however, is at CarShield’s discretion and can be declined for any reason.
To transfer your Platinum coverage to another driver or new vehicle, you must request the transfer within 30 days after. You must also submit the following documentation:
As with every CarShield coverage option, there’s a waiting period before coverage begins. This is to ensure you’re not getting pre-existing issues covered under warranty. For the Platinum plan’s coverage to kick in, you have to wait 30 days and 1,000 miles or 90 days and 200 miles from the contract’s effective date.
Most people looking for extended warranty coverage want peace of mind after their factory warranty expires. CarShield’s Platinum plan can be a solid replacement if you previously had bumper-to-bumper coverage for your new or used car. It covers most major vehicle systems, in addition to other parts like the electrical systems. Plus, you have access to perks like roadside assistance, trip interruption and more.
Below are frequently asked questions about CarShield Platinum coverage.
In our research, we found that the CarShield platinum plan averaged around $110 to $150 per month. Keep in mind that your extended warranty costs will vary based on your vehicle, mileage and the coverage level you want. Speak with a CarShield representative to get a free quote for your used or new car.
According to our research, CarShield doesn’t cover car damages from:
Since CarShield acts as a third-party warranty administrator, the plans are administered by outside companies. For the Platinum plan, American Auto Shield is the company that provides warranty coverage.
The CarShield Platinum plan covers the powertrain but is more than just a powertrain warranty. It covers 15 different vehicle systems and a range of components that are stated in the warranty. All exclusions are also listed in your vehicle service contract.
Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best extended car warranty companies. We collected data on dozens of auto warranty providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, with the companies that scored the most points topping the list.
Here are the factors our ratings take into account:
*Data accurate at time of publication.
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