Toco Extended Warranty Review and Pricing

Who It Would Be Good For

• Someone who appreciates great customer service
• Anyone looking for monthly payment options
• Someone whose car has less than 175,000 miles or is less than 20 years old

Who It Would Not Be Good For

• A person who lives in California, Washington, Missouri, or Alaska
• Someone whose car has preexisting conditions
• An owner of a car with over 175,000 miles, or that is more than 20 years old

Eligible

• Car models 20 years old or newer
• Cars with less than 175,000 miles
• New or used cars

Not Eligible

• Exotic or high-performance cars like Maseratis, Bentleys, or Lamborghinis
• Cars older than 20 model years
• Cars with preexisting conditions or known failures at the time of sale
• Modified or concept vehicles
• Gray market vehicles
• Salvage vehicles, flood-damaged cars, or reconstructed title cars
• Vehicles with altered odometers
• Vehicles that have been declared lemons
• Vehicles that lack VINs (Vehicle Identification Numbers)
• Vehicles with modifications to the engines, transmissions, drive axles, frames, suspensions, emissions, or exhaust systems
• Vehicles with lift kits installed
• Vehicles with oversized tires

The Buying Process

You can get a free quote by filling out a form on the company’s website at https://www.tocowarranty.com/quote. Make sure you have your car’s VIN, make, model, and mileage information on hand.

Waiting Period

Toco implements a mandatory waiting period before your coverage takes effect to ensure your car is in working order. Generally, the waiting period is 90 days and 1,000 miles from the date of purchase. The length of the waiting period may depend on your driving habits. While the standard waiting period across the industry is 30 days and 1,000 miles, Toco explains that its 90-day waiting period is to help prevent fraudulent claims and keep its rates low.

Late Payment Fee

Toco charges a $5 late payment fee for any account that is past due over five days. It may waive this fee at its discretion, however. The company may cancel your contract if the payment is more than 15 days past due. If your contract is canceled for nonpayment, you can re-enroll, but you may have to restart the waiting period.

Transfer Policy

If you sell your covered vehicle before your Toco coverage expires, you can transfer your contract to the new owner for a $75 administrative fee. However, this fee is only $40 for Florida residents, and there is no fee for New Hampshire drivers.

Claims

Before Toco will cover repairs under a covered claim, you’ll need to pay your deductible, which varies based on your plan. If your contract does not note your deductible amount, it is $100.

To begin the repair process, call Toco customer service at (855) 298-8626. Once you’ve paid your deductible to Toco, the plan will pay the repair facility for the covered repairs directly.

Toco Plans

Toco offers four levels of coverage based on your vehicle’s mileage and age. Note that there aren’t set prices for each plan, as costs will vary based on your vehicle make, model year, and other factors. The extended car warranty company also offers additional benefits for all customers, which are noted in the chart below.

Benefits

As mentioned above, Toco offers the following extended car warranty benefits:

• 24/7 roadside assistance: Roadside assistance covers towing, battery jump starts, flat tire replacement, lockout assistance, and fuel delivery.
• Rental car reimbursement: If you need a rental car while your vehicle is being serviced, Toco will reimburse you $35 for every four hours of labor required. You can receive up to $175 for each repair.
• Trip interruption reimbursement: If your vehicle breaks down 100 miles or more from home and you need to leave it at a repair facility overnight, Toco will reimburse your hotel and restaurant expenses up to $100 per day for a total of $300 over three days.
• Hotel and motel discounts: You can also get a 5 percent cashback rebate on your hotel or motel bill when booking a hotel through Hotels.com. Keep your original receipt and send it to Toco to qualify for this rebate.

• Email: info@tocowarranty.com
• Phone: (855) 298-8626

Better Business Bureau

Toco is a BBB-accredited business with an A+ rating, which is very good. The company has high customer reviews, too, with a 4.18 rating out of five stars as of January 2023. BBB customer ratings tend to skew lower, so this level of customer satisfaction is impressive.

Trustpilot

Toco has similarly high customer ratings on Trustpilot, earning 4.6 out of five stars.

While Toco lacks a mobile app, the website is streamlined and easy to use.

Founded in 2012 and headquartered in Sherman Oaks, California, Toco Warranty Corporation offers extended warranties and vehicle service contracts. Its parent company, AmTrust Financial Services, Inc., backs these plans.

Toco is a vendor like Concord or Endurance. While both Concord and Endurance require either a down payment or the total cost upfront, Toco’s affordable monthly payment model might be a better fit if you’re looking for a more flexible contract. However, Endurance also offers discounts for first-time callers, government employees, military officers, veterans, and their families.² According to our research, neither Concord nor Toco offers discounts.

Concord and Endurance are not accredited by the Better Business Bureau, which is concerning. Out of a total of five stars, TrustPilot gives Toco 4.6 stars, Concord 3.6 stars, and Endurance 4.0 stars.

We take a few main factors into account for our extended warranty review and pricing pages.

Eligibility

We look at which cars the extended warranty would cover based on the driver’s place of residency, the car’s make, model year, mileage, and any existing mechanical issues.

Buying and Claims Process

We favor companies that give customers the option to get quotes and purchase warranties over the phone and online. We also prefer companies that don’t require pre-inspection or waiting periods.

In terms of claims, we like businesses that cover repairs at any authorized repair facility in the U.S. or Canada, pay the provider directly (as opposed to asking customers to pay upfront and wait for reimbursement), and charge deductibles per visit rather than per repair.

Coverages

The more coverages, the better, but the best selection truly depends on what coverages the customer is looking for. Coverage can vary greatly between providers and plans within providers. We prefer businesses that, at the very least, offer 24-hour roadside assistance, coverage for parts and labor, payment for rental cars, tire repair or replacement, and trip interruption protection.

Pricing

We compare the cost of services that each company provides to average costs across the industry. We must rely on averages, though, as almost no extended warranty provider is transparent about their costs. According to our research, the average cost of extended warranties ranges from $100 to $300 a month and $1,200 to $3,000 annually.

Customer Service

We prioritize companies that allow customers to contact them by email, web forms, or over the phone. We also look at Trustpilot and the BBB, two reliable sources that have feedback from thousands of customers.

Mobile App

Some companies offer iOS and Android mobile apps allowing for easy claim submission, repair shop location searches, and other tools. We look for well-designed apps that have ratings of at least three stars in both the Apple and Google Play stores.

Extras

Though it’s uncommon, some extended warranty companies offer extra benefits. For instance, Protect My Car offers a points-based loyalty program called PMC Rewards, whereas Toco offers a discount on Hotel.com bookings. We reward companies with these extras, but they are just that: extras.