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Last updated: May 16, 2024
Toco Extended Warranty Review and Pricing 2024
We named Toco one of the best extended auto warranties for its affordable rates and strong customer service.
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Toco sells extended warranties for new and used cars. These policies, also known as vehicle service plans, can provide coverage in conjunction with your original manufacturer warranty, or continuing coverage once this warranty has expired.
Toco has a reputation for providing excellent customer service, and offers four different plans based on your mileage. It advertises that it covers cars which have “literally gone the distance,” including vehicles with up to 250,000 miles on the odometer. In addition to its consumer plans, it offers corporate plans, also known as Toco At Work.
As a Staff Writer for AutoInsurance.com, I value a quick and easy claims experience, as well as friendly, helpful, and accessible customer service representatives. I was excited to learn more about Toco and what it has to offer.
We named Toco one of the best extended warranty companies. Read for my findings on Toco, its different coverage options, and the customer this company is best suited for.
You may also be interested in our guide to buying auto insurance for the first time, tips on how to spot an auto warranty scam, and our breakdown of what’s on your auto insurance policy.
Editor’s Note (Last Updated: May 8, 2024) – We updated our Toco review to include the latest third-party ratings, pricing, and coverage details.
Toco Pros and Cons
Pros
Reputation for strong customer service
Reasonable monthly rates
Offers month-to-month subscription plan
No down-payment required
Unique corporate plans for business owners
Cons
Not available in all states
Lack of mobile app
No option to choose plan; it is assigned to you by Toco based on mileage
Who Should Buy Toco
Who It Would Be Good For
Toco would be good for anyone who appreciates the flexibility of a month-to-month payment plan, as well as customers who value high levels of customer service. Toco is also good for customers whose vehicles have traveled fewer than 250,000 miles, or who may want to transfer their extended warranty policy to a new owner once they sell their car.
Who It Would Not Be Good For
As of May 2024, Toco is not available in the following states:
- California
- Arkansas
- Wyoming
- Missouri
- Washington
Customers who prefer a shorter waiting period may find that Toco is not the best fit for them, given that its 90-day waiting period is longer than the industry standard of 30 days.
Is Your Car Eligible?
Though Toco has a range of plans tailored towards different vehicles and mileage, not all cars are eligible for an extended warranty through Toco. Its plans cater to new cars and used cars alike, up to 250,000 miles.
Vehicles with known pre-existing conditions at the time of sale are unfortunately ineligible for Toco warranty plans. Nor are high performance cars, such as Lamborghinis and Bentleys.
How Toco Works
Toco offers a clean online quote tool which provides a quote based on your vehicle make, model, year, and mileage. Once you’ve entered this information along with your name, email, cell number, and zip code, Toco reaches out directly with a quote. Those who prefer to get a quote via phone can do so by calling 855.298.8626.
Toco’s website allows you to explore its levels of plan based on your car’s mileage. Toco uses mileage as a central factor in determining your plan (though it takes other factors into consideration too, such as make, model, age of vehicle, and where you’re located). You can easily explore what each of these plans does and does not cover.
FYI:
Toco does not include pricing estimates in its plan overviews. Skip to our pricing section to get a sense of how much a Toco plan will be for your vehicle, or get a free quote through Toco’s website.
Overall, Toco’s website is clean-looking and informative, and I’d be happy to use its quote tool if I was ever looking to purchase a vehicle service contract through Toco.
Toco also allows you to view a sample contract for each of its plans before getting a quote, and I really appreciated the opportunity to review the fine print before investing any more time.
Waiting Period
Before your policy goes into effect Toco mandates a wait period, which begins on the date of contract purchase. This period is generally 1,000 miles and 90 days from the date of purchase, though may vary depending on driving habits. This waiting period is on the longer side compared to industry standard, which tends to be closer to 30 days.
Toco explains this 90-day waiting period helps keep its rates lower by protecting against fraudulent claims. I’d agree a longer waiting period is worth cheaper monthly payments and great customer service—especially given that most Toco customers are eligible for partial reimbursements should they need to make a claim in their first 90 days of coverage.
TIP:
If your car requires repair within 90 days of purchasing your plan, it’s still worth reaching out to Toco; most of their customers will be eligible for a partial payment during this waiting period.
Late Payment Fee
Toco charges a late payment fee of $5 for accounts which are five days overdue. It does occasionally waive this fee at its discretion. Contacts past-due by 15 days or over may be canceled. A canceled contract may be reinstated, but it’s possible you might have to restart the wait period.
Given Toco’s track record of excellent customer service, I’d recommend reaching out to a Toco representative by phone should you run into any issues with your account, to see how this issue might be resolved.
Transfer Policy
Toco policies can be transferred over the new owner should you decide to sell your vehicle. Depending on the state in which you’re located, Toco charges a $75 administrative fee to transfer your contract.
Claims
The first step to filing a claim with Toco is taking your car to a mechanic to get it assessed. Once the repair shop has reached out to Toco directly and the claim is approved, you will need to pay the deductible outlined in your plan (if no deductible is specified, the cost is typically $100). With Toco, you can bring your car to any car repair facility of your choice.
Should your car break down, simply call Toco and it will tow your car to a mechanic. Once repairs are complete, Toco pays the mechanic directly.
GOOD TO KNOW:
Toco only charges one deductible per breakdown. So, if a single breakdown takes more than one visit to the shop to be fixed, you will only be charged one deductible.
What Do Toco Warranties Cover?
Toco Consumer Plans
Depending on the age and mileage of your vehicle, Toco offers four different consumer plans: Orange (for lowest-mileage vehicles), Yellow, Blue, and Green (for highest-mileage vehicles). Costs of each plan vary depending on the make and model year of your car, along with other factors.
| Toco Consumer Plan | Miles | What’s Covered |
|---|---|---|
| Orange Level | 0-100,000 |
|
| Yellow Level | 100,000 – 150,000 |
|
| Blue Level | 150,000 – 200,000 |
|
| Green Level | 200,000 – 250,000 |
|
Toco Corporate Plans
In addition to its consumer plans, Toco offers three different corporate plans: Powertrain, Plus, and Premium. These plans are intended for business owners to purchase to offer their employees. Toco advertises that these plans can help save business owners money by ensuring employees can get to work should their car break down. It may also make you more appealing to future employees (as well as current ones you wish to retain), by including this unique insurance in your benefits package.
TIP:
For business owners, including a Toco corporate plan as a part of your benefits package could help you stand out to prospective employees.
All Toco At Work plans include $75 roadside reimbursement per repair, and a rental car reimbursement of $120 per repair. They also have an annual limit of liability of $5,000.
| Toco At Work Plan | What’s Covered |
|---|---|
| Powertrain |
|
| Plus |
|
| Premium |
|
Toco’s website allows you to easily explore its different corporate plan options. I liked this feature, but would have appreciated being able to compare its plans more directly. Seeing what was and wasn’t included in each plan involved moving between different pages on the website, and I think this information could have been presented more efficiently.
Benefits
Toco offers the following benefits to all consumer plan customers:
- Roadside assistance: Roadside assistance from Toco includes jumping battery flats, lockout assistance, fuel delivery, and towing.
- Rental car reimbursement: For every four hours of labor required on your vehicle repair, Toco will reimburse $35 towards a replacement rental car.
- Trip interruption reimbursement: Toco customers whose car breaks down more than 100 miles from home and need to leave their car overnight at a repair facility can claim up to $100 for three days toward restaurant or hotel fees.
- Membership to Openbay+: Through Openbay+, Toco customers can receive up to 25 percent off car repair and maintenance services with selected professionals. Openbay+ is included in the cost of Toco’s plans.
Be sure to keep any receipts from hotels, restaurants, or rental cars which may be eligible for reimbursement. Many businesses will provide digital copies of receipts; I recommend taking a photo of paper receipts, just in case.
Toco’s corporate plans also include benefits, like concierge services, roadside assistance, and rental reimbursement.
What’s Not Covered
Extended warranties through Toco do not cover the following:
- Damage caused by a collision
- General wear and tear
- Damage caused by misuse or neglect
- Any preexisting conditions
Seeing that Toco doesn’t cover general wear or tear gave me pause—when I was a car owner, general wear and tear was the most regular cause of my car repairs. Still, these exclusions are a fairly consistent industry standard, and not specific to Toco.
Before purchasing an extended warranty plan, be sure to review the price of a plan compared to the cost of expense associated with occasional repairs, to make sure you’re not taking on an unnecessary cost. If you’re looking for a warranty that includes maintenance benefits, it’s worth checking out Omega.
Toco Extended Auto Warranty Cost
Toco does not list any pricing data on its website, which is not unusual for vendors providing extended warranty policies. Though you should expect prices to vary based on vehicle make, model, and mileage, my research indicates that the monthly cost of an extended warranty plan with Toco is around $44 per month. This is lower than the national average cost of an extended warranty, which is around $108 a month.
The exact price of an extended warranty will vary significantly from vehicle to vehicle. I’d always recommend getting a quote from any extended warranty provider. Comparing quotes from multiple providers will help you determine which plan is the best value for you.
Discounts Offered Through Toco
Toco does not offer any discounts to special groups, such as students or members of the military. For me, this isn’t too much of an issue—I’d say that Taco makes up for this with its fairly extensive list of benefits and extras.
Veterans, seniors, or government employees may want to explore other extended warranty providers, such as Concord, that do offer discounts to these groups.
Money-Back Guarantee
Toco offers a full refund to customers who have not filed a claim within 60 days of purchase.
Cancellation Fee
After this initial 60 days have passed, Toco charges a $50 fee for any customers looking to cancel their policy.
Customer Service Contact Information
Toco can be reached via email at info@tocowarranty.com, or phone at (855) 298-8626.
Third-Party Reviews
Toco’s consistently strong reviews from both TrustPilot and the Better Business Bureau are really what made this company stand out to me amongst its competitors.
| Reviewer | Toco Rating |
|---|---|
| Better Business Bureau1 | A+ (4.15 out of 5 stars2) |
| Trust Pilot | Excellent (4.6 out of 5 stars) |
Toco’s award of A+ from BBB averaged from 78 customer reviews gives Toco the edge on competitors, such as Concord and Endurance, when it comes to a reputation for strong customer service.
Trustpilot rates Toco as Excellent, based on an average of 4.6 stars across 497 reviews. Good customer service is very important to me, especially for a company like Toco which doesn’t have an app, and requires customers to call their customer service line directly to file a claim. Based on these strong third-party reviews, I’d be more than happy to move forward with an extended warranty plan from Toco.
Mobile App
As mentioned above, Toco does not currently have a mobile app. I think its strong customer service, and clean, stream-lined website more than make up for this.
Those who value the mobile experience may want to explore Endurance or Carshield, extended warranty companies who do offer apps.
Company Background
Toco was founded in Sherman Oaks, California, in 2012. Toco Warranty Corporation offers vehicle service contracts and extended warranty plans, backed by its parent company, AmTrust Financial Services.
How Does Toco Compare?
Toco is a vendor rather than a broker, so its main competitors are Concord and Endurance. In comparison to both of these vendors, Toco’s third-party customer service ratings stand out as quite strong. However, for those who value discount options on sign up, Toco might not be the best option; both Endurance and Concord offer discounts to special groups such as government employees, military officers, and veterans, whereas Toco does not.
When it comes to pricing, Toco also comes in on the lower end, with plans averaging around $44 a month, based on my research. This is slightly higher than Concord, whose plans average at around $40 a month, but cheaper than Endurance, whose plans come in around $90 to $100 a month.
For me, Toco also stands out amongst their competitors for its flexible monthly payment options, reasonable rates, and consistent customer service reviews. Toco’s BBB rating is A+, while Endurance’s is a slightly lower than A-, and Concord’s is a concerning F. Should I ever purchase an extended warranty plan, I’m fairly certain I’ll be coming back to Toco.
Methodology
We thoroughly research our extended warranty review based on the following criteria:
- Eligibility: We consider the cars covered by each extended warranty policy, based on state of residency, a car’s make-year and model, and mileage.
- Buying and Claims Process: We review companies based on ease of getting quotes and purchasing policies. We take into account online quote tools, and prefer companies that do not require pre-inspection or mandate lengthy weight periods. When it comes to claims, we favor companies that allow any repair shop, pay claims directly to the shop, and charge deductibles per visit rather than per repair.
- Coverages: We evaluate warranty companies based on the scope of their coverage. We consider if services such as rental car reimbursement, tire repair or replacement, 24-hour roadside protection, or trip interruption protection are provided. We generally consider more coverage better than less, though we recognize everyone’s needs differ.
- Pricing: Given that very few extended warranty providers are completely transparent on their pricing, we base our reviews on industry average.
- Customer Service: We evaluate companies based on how contactable they are by email, phone, or web forms. We use trusted third-party data from TrustPilot and the BBB to further evaluate the customer service experience of each of the companies we review.
- Mobile App: Some companies, but not all, offer iOS and Android apps for tools such as claim submission and repair shop location services. We review these apps based on ease-of-use and comprehensiveness of tools.
- Extras: We take into account whether a company offers extras, such as customer loyalty programs or partnerships with other companies to offer discounts. We consider these extras as nice-to-haves rather than essentials.
Frequently Asked Questions
Is Toco a good warranty company?
Toco is a legitimate vendor of extended warranty policies, also known as vehicle service contracts. It has been accredited by the Better Business Bureau since 2012, and its third-party reviews have proven consistently strong. It’s currently rated at an A+ from the BBB. Generally, its rates fall comfortably within the national average. Unfortunately, Toco extended warranty policies are not available in every state.
Do you get a check back when you cancel a Toco extended warranty policy?
When you cancel a Toco extended warranty policy, you can request a check be sent by mail. Otherwise, if you choose to cancel your policy, Toco will default to depositing your refund into your account automatically by direct debit. Toco extended warranty policies are also transferable to the new car owner, so you may not need to cancel your policy.
What is a downside to purchasing an extended warranty?
Some extended warranty customers find that their extended warranty doesn’t cover the type of damage their car incurs most frequently—for example damage caused by general wear and tear, or a collision. Some warranty policies are crafted to exclude common or costly repairs; for instance, while your policy might cover air conditioning systems, it may exclude the compressor, a frequent point of failure. Alternatively, it might impose a $3,000 limit on engine repairs, despite engines often costing $7,000 to replace. Customers may also find an extended warranty policy duplicates the coverage provided by their auto insurance, or manufacturers warranty, making it an unnecessary cost.
Still, for those who anticipate needing frequent car repairs, and appreciate the extra peace of mind that comes from being able to budget for these, extended warranty policies can provide a valuable service.
Citations
Business Profile: Toco Warranty Corp. Better Business Bureau. (2024).
https://www.bbb.org/us/ca/west-hills/profile/auto-warranty-services/toco-warranty-corp-1216-1015707Toco Warranty Corp. Trustpilot. (2024).
https://www.trustpilot.com/review/tocowarranty.com
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