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March 17, 2022
If you’re looking for peace of mind and coverage for expensive unexpected vehicle repairs, then an extended warranty can be a good option.
However, you’ll have to weigh several different factors when sifting through the many options for third-party extended warranties.
Toco is an extended warranty company that claims to change how we protect our vehicles. But do they hold up to this promise?
Today, I share my honest opinion about Toco extended warranties.
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Disclosure: I sometimes receive compensation from referrals to companies I mention, but that does not impact my opinions and helps keep this website going. And I only recommend providers that will genuinely benefit my readers.
Founded in 2013, Toco is an extended warranty provider located in California. Their plans are fulfilled through AmTrust Financial Services.
Overall, they have a positive reputation in the industry and may be a solid choice for your extended warranty.
Toco has a solid reputation, with a strong A+ rating from the BBB along with accreditation. They quickly address any complaints.
Additionally, they have 4.48 stars out of 5 on the BBB from customer reviews, suggesting that they offer trustworthy service overall.
Toco aims to provide affordable extended warranty service to all. They do not require a down payment and pride themselves on affordable monthly fees.
As a California-based company, Toco does offer coverage in California. They do not provide vehicle service contracts but instead offer mechanical breakdown insurance in the state.
A Toco extended warranty can certainly be worth it! The company offers multiple plan levels and demonstrates a commitment to customer service. They even offer mechanical breakdown insurance in California. Unfortunately, Toco does not provide coverage for EV or Hybrid batteries.
However, Toco is not necessarily the best choice for everyone. You should consider your vehicle age, make, model, and condition, as well as how long you plan to keep the vehicle, before getting an extended warranty.
If you determine that an extended warranty is right for you, you should compare several quotes to decide on the best provider for you.
The Orange plan is best suited for new cars or vehicles up to 5 years old/60,000 miles. It offers the most comprehensive coverage.
Toco has several options that can work well for used cars, depending on their age and condition. For significantly older vehicles with many miles, the Blue plan (basic powertrain coverage) is ideal. It’s an affordable option that can still protect your vehicle’s most essential parts.
The coverage you can expect from Toco varies depending on which plan you choose. The highest tiered plan offers exclusionary bumper-to-bumper coverage, while the most basic plan offers only powertrain coverage. Here are some examples of commonly covered parts:
Toco does not cover the same things that many other extended warranty plans won’t cover, including:
The cost of your warranty will vary depending on your vehicle details and the plan you choose.
Many customers praise the affordability of Toco extended warranties and their pay-as-you-go options. You won’t need to pay a down payment either.
While the actual cost can fluctuate significantly, the average cost is around $2,800.
Toco has four warranty plan options. Here’s a breakdown of each:
The Orange plan offers exclusionary, bumper-to-bumper coverage. This means that it only lists the parts that are not covered. It’s the most similar to the factory warranty.
The Yellow plan offers fairly comprehensive coverage. It lists out each covered part.
The Green plan is “enhanced powertrain coverage.” It covers the powertrain and several other key components that are listed.
The Blue plan is basic powertrain coverage, which is ideal for very old or high mileage vehicles.
Every extended warranty plan from Toco includes some additional benefits, including:
Filing a claim with Toco is easy. Here’s how it works:
Toco’s refund policy lasts for 60 days. Within the first 60 days, you can cancel if you have not filed a claim. If you cancel within the first 60 days, you receive a full refund.
You can still cancel after the 60 day period, but you will receive a prorated refund and need to pay the $50 administration fee.
Many positive customer reviews talk about how quickly Toco covers the claims. Many customers praise the overall experience and good customer service.
Of course, there are still negative reviews. Some negative reviews express frustration that claims were denied that they believed should be covered.
Some negative reviews are normal for any company, especially in the extended warranty industry. It’s worth noting that Toco responds promptly and works hard to resolve complaints.
Toco has a reputation for being flexible and affordable for extended car warranties, but it’s not the only option. Before choosing a provider, be sure to compare all o the top players. Here are some of the alternatives to Toco:
The deductible for your Toco plan may vary, but in general, you can anticipate a deductible of roughly $100.
With a Toco extended warranty, you can bring your vehicle to any ASE-licensed repair facility. This means you have plenty of flexibility to choose a repair shop that is convenient for you.
Endurance is a well-known extended warranty provider, but it is not necessarily better than Toco. You should obtain quotes from both for your specific vehicle. Then you can directly compare the cost, coverage, benefits, etc. This is the best way to determine if Endurance or Toco is right for you.
CARCHEX is another top extended warranty provider. However, CARCHEX and Toco each have unique advantages and considerations. Request a quote from both providers to determine which is better for you.
No, much like most extended warranties, Toco extended warranties will not cover routine maintenance.
Toco pays the covered claims directly to the repair facility after paying your deductible. You should have the mechanic confirm coverage before authorizing any repairs. Then, you will pay your deductible, and Toco will pay the claim to the repair shop.
Yes, you can transfer Toco warranties to the new vehicle owner.
You can cancel your warranty within 60 days for a full refund (if no claims were made). After the 60-day period, you will receive a prorated refund and must pay a $50 administrative fee.
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