With plans starting at $49 per month, Olive is one of the most affordable vehicle protection companies in the industry. But its real standout feature is the simple enrollment process: You can review Olive’s three coverage options, get a price quote and enroll your vehicle — all online.
Plus, your contract becomes active immediately, with no waiting period or inspection required.
Its low prices and a digital-first approach earned Olive a spot on our best extended car warranties list. Policies are capped at three years, however, and its roadside assistance benefit is limited to towing and rental car coverage.
Olive extended car warranty pros and cons
Key benefits and drawbacks to Olive’s extended car warranty coverage.
Pros
Lower rates
Can get quotes and enroll online
No waiting period or inspection required
60-day money-back guarantee
Cons
Doesn’t include full roadside assistance
Only three plans to choose from
No discounts for paying in full upfront
Olive plans
Olive operates in all 50 U.S. states, including California, where it sells mechanical breakdown insurance. Some plans may not be available in all states or for all vehicle types.
Like most competitors, Olive is a broker. It administers contracts and claims for QBE Insurance Company.
CompleteCare: This bumper-to-bumper warranty covers all major car systems, including suspension, steering, gaskets, A/C and electronics.
Powertrain Plus: Comprehensive coverage that includes brakes, heating/cooling, electronics, steering and suspension.
Powertrain: Olive’s basic tier covers engines and transmissions.
Read: CNBC Select’s picks for the best extended car warranties
Olive requirements
To apply for a policy with Olive, you’ll need the make and model of your vehicle, as well as its vehicle identification number (VIN) and current mileage.
Age and mileage limits
Olive accepts vehicles that are up to 10 years old and have a maximum of 140,000 miles. Coverage is available until a car is 12 years old or has 185,000 miles, whichever comes first.
Waiting period
Unlike most extended warranty companies, Olive has no waiting period. Once you purchase your policy, your vehicle is covered immediately.
Deductibles
Olive has $100, $250 and $500 deductibles. The higher the amount you choose, the lower your monthly premiums.
Claims process
Policyholders can take their vehicle to any ASE-certified garage or visit the RepairPal website to find a service center. The mechanic will contact the claims department with an estimate and, if the repair is approved, payment is made directly to the shop.
Claims for Olive contracts are approved and paid by QBE.
What is mechanical breakdown insurance?
Similar to an extended car warranty, mechanical breakdown insurance (MBI) covers unexpected mechanical or electrical issues that occur after your manufacturer’s warranty has expired. Our top picks include Geico and AAA.
The primary difference is that MBI is typically available as an add-on to your . Additionally, while extended car warranties are available for older or higher-mileage cars, MBI is typically limited to newer vehicles.
How much does Olive cost?
Olive advertises service contracts starting at $49 per month. For a three-year policy on a 2021 Ford Escape with 50,000 miles, we were quoted a price of $150 a month for 36 months for the top-tier Complete Care plan.
How does Olive compare?
Here’s how Olive stacks up against two major competitors.
Olive vs. Autopom
autopom! Extended Car Warranty
Policy highlights
Autopom! has three levels of coverage, from bumper-to-bumper to powertrain, with a money-back guarantee and some of the cheapest rates in the industry. Benefits include tire repair, 24/7 roadside assistance and trip interruption protections.
Eligibility
Not disclosed
Coverage terms
Covers up to 7 years or 150,000 miles. (Some plans may exceed mileage cap.)
Choose your garage?
Yes.
Availability
Autopom! warranties are available nationwide. Contracts are considered mechanical breakdown insurance in California.
Pros
Outstanding customer service
Lets you choose your garage
Roadside assistance and replacement rental car
Up to 60-day money-back guarantee
Cons
Eligibility requirements and pricing not available online
Higher down payment than many competitors
Both Olive and Autopom offer three coverage tiers, although Olive’s rates run lower. Only Autopom offers a discount for paying in full upfront, however, which could narrow the price differential.
Olive makes it easy to purchase a plan completely online. With Autopom, you’ll need to speak with a sales agent over the phone.
There’s also no waiting period for coverage to kick in with Olive. Autopom has a 30-day waiting period, which can extend to 60 or 90 days, depending on your vehicle.
Read: Autopom extended car warranty review
Olive vs. CarShield
CarShield Extended Car Warranty
Policy highlights
CarShield offers seven warranties, including bumper-to-bumper, powertrain, electrical systems, motorcycles and EVs. Contracts are administered by American Auto Shield.
Eligibility
Up to 300,000 miles with no age limit
Coverage terms
Not disclosed
Choose your garage?
Yes, any certified National Institute for Automotive Service Excellence shop.
Availability
CarShield coverage is available in all U.S. states except California.
Pros
Wide range of plans
Affordable rates
No age restriction for acceptance
Cons
Not available in California
Not all plans are transferable
$10 million settlement with the FTC over deceptive advertising practices
CarShield’s 300,000-mile limit is more than double Olive’s mileage cap. Additionally, while CarShield has no age limit, Olive doesn’t issue service contracts for vehicles that are over 10 years old.
Olive plans have limited roadside assistance benefits, while CarShield has a range of options, including trip interruption coverage.
Both Olive and CarShield enjoy positive customer reviews, although CarShield has a history of complaints with the Better Business Bureau. In 2024, it paid $10 million after being accused of deceptive advertising by the Federal Trade Commission.
Read: CarShield extended car warranty review
How do I buy an Olive extended car warranty?
You can get free price quotes for all three of Olive’s plans online by providing your vehicle’s year, make, model and mileage.
After you select a policy, enter the car’s VIN and your credit card information to complete your purchase. Coverage begins immediately, with no inspection or waiting period required.
Olive coverage advocates are available at 855-202-6127, Monday through Friday, 12:00 p.m. to 8:00 p.m. ET.
Is Olive right for me?
If you have an older car or are looking for a bargain, Olive’s low rates and high mileage limits are big assets. And its modern website makes enrolling a breeze.
Olive is light on discounts and roadside assistance benefits, but those aren’t dealbreakers for most car owners. The three-year warranty limit might be, if you’re hoping to protect your vehicle for a significant amount of time.
Olive FAQs
How much does an Olive extended warranty coverage cost?
Olive advertises that it has policies starting at $49 a month. For a five-year Platinum plan for a 2021 Ford Escape with 50,000 miles, we were quoted a rate of $150 per month for 36 months.
Does Olive require a vehicle inspection?
Olive doesn’t require a vehicle inspection for approval. Your policy will activate immediately after payment is processed.
Is Olive a legitimate business?
Yes, Chicago-based Olive has been selling vehicle service contracts since its founding in 2014. It is a subsidiary of Repair Ventures, LLC, which received an A+ from the Better Business Bureau.
Contracts and claims are administered by a division of QBE Insurance.
Can I cancel my Olive contract?
Yes. Olive’s policies come with a 60-day “free look” period, during which you can get a 100% refund, minus any claims paid. After that, your refund is prorated.
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At CNBC Select, our mission is to deliver high-quality service journalism and comprehensive consumer advice to our readers, enabling them to make informed financial decisions. Every article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of personal finance. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content independently of our commercial team and any outside third parties. We pride ourselves on maintaining high journalistic standards and ethics.
Our methodology
CNBC Select reviews extended car warranties using a variety of criteria, including rates, terms, mileage and vehicle age limits, availability, fees, payment options, online experience and customer satisfaction.
We also incorporate findings from independent sources, including ratings from the Better Business Bureau.
Sample rates were based on a 2021 Ford Escape with 50,000 miles.
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