Is an extended warranty from Toco right for you?
Toco is a relatively new auto warranty company founded in 2012 in California and backed by AmTrust Financial Services. It has an A+ rating from the Better Business Bureau. The company is known for offering affordable plans with no down payments and giving you the option to pay monthly so you can fit into your budget more easily.
But is Toco right for you? We’ll tell you everything you need to know about the company in our detailed review below.
Affordable payment plans
New and used vehicle coverage
Covers vehicles up to 20 years old
Transferable to new owner
Simple claims process
Not available in California, Washington, Missouri, or Alaska
Waiting period of 90 days and 1,000 miles
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.
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.
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.
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.
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.
Get approval from Toco before the repair shop begins working on your car.
After the initial repair, you’re not required to pay a deductible for any future repairs to that vehicle part. If a breakdown takes more than one visit to repair, only one deductible will apply for that breakdown.1
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.
|Plans||Miles||Oldest model year||Vehicle parts covered||24/7 roadside assistance||Rental car reimbursement||Trip interruption coverage||Hotel and motel rebates through Hotels.com|
|Orange||60,000||2018||Most vehicle systems and components, with only a short list of exclusions listed in your contract||Yes||Yes||Yes||Yes|
|Yellow||100,000||2013||Engine, transmission, front/rear drive axles, electrical components, engine cooling system, air conditioning, fuel system, steering, brakes, and suspension||Yes||Yes||Yes||Yes|
|Blue (Level III)||100,000||2013||Everything included with Yellow except for steering, brakes, and suspension||Yes||Yes||Yes||Yes|
|Green (Level IV)||175,000||2003||Engine, transmission, and front/rear drive axles||Yes||Yes||Yes||Yes|
As mentioned above, Toco offers the following extended car warranty benefits:
Save your receipts. Many hotels and restaurants offer digital receipts, but if you get a paper copy only, take a photo of it for your records.
Most Toco vehicle service plans will not pay for the following:
While Toco does not disclose pricing on its website, our data estimates the plans cost between $90 and $125 per month for bumper-to-bumper coverage. These prices are less expensive on average than those of other extended warranties. Across the industry, the average monthly cost of an extended warranty ranges from $100 to $300.
Looking at other companies, Toco’s monthly cost is similar to Protect My Car’s average monthly rate of $100 to $116 and much cheaper than Omega’s average monthly bill of $245 to $278. But again, costs differ based on the car you drive and other factors, which is why it’s important to compare quotes from multiple providers to find the best coverage for you (and your wallet).
Unfortunately, like most extended warranty companies, Toco doesn’t offer any discounts for students, members of the military, or other special groups.
If you have not filed a claim within the first 60 days, you can get a full refund.
If you decide to cancel your extended warranty after the first 60 days have elapsed, Toco will charge you a $50 cancellation fee.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Toco is a legitimate vendor of extended warranties. It has been accredited by the Better Business Bureau since 2012 and has an A+ rating with hundreds of customer reviews.
You can use any mechanic or dealership in New York City, as long as they’re a state-licensed repair facility. Contact Toco’s customer service team via email (firstname.lastname@example.org) or over the phone (855-298-8628) to find a preferred repair facility in your area.
Yes, you can request a check back, but only if you request it by mail. Otherwise, when you cancel your policy, Toco will opt to send your refund via direct deposit into your bank account automatically.
Common Questions. Toco. (2023).
Extended Auto Warranty Discounts – Get the Best Price on Your Warranty. Endurance. (2023).