CBI & Finance, a leading provider of third-party extended warranty services for Tesla vehicles in Canada, has announced an expansion of its extended warranty program to include British Columbia and Alberta.
The third-party coverage from CBI launched in 2023, and was initially available in Ontario, Quebec, New Brunswick, and Nova Scotia. After a longer than expected process to receive regulatory approval, Tesla owners in BC and Alberta can now also purchase extended warranty coverage.
The extended warranty is available for vehicles that are less than 10 years old and have under 200,000km on the odometer, and comes with flexible terms ranging from 12 to 60 months.
For Model 3/Y, pricing starts at C$2,700 for one year of coverage, with the most economical option being C$3,100 for a full five years and unlimited mileage.
Model S/X coverage starts at C$3,300 for 12 months, or C$3,700 for five years of coverage.
This compares to Tesla’s own Extended Service Agreement, which comes in at C$2,700 for two years or 40,000km, whichever comes first.
Since its launch, the extended warranty has seen a significant change in what is covered under the terms of the program, and it is actually for the better. Earlier this year the policies were updated to include coverage for critical suspension components such as ball joints, control arms, bushings, and link kits. This expanded coverage offers Tesla owners peace of mind, especially given the high replacement costs of these parts, which can easily exceed C$2,900 per service.
Here are some additional key features of the extended warranty program:
- Eligibility for All Tesla Owners: The warranty is available regardless of where the vehicle was purchased or the current warranty status, ensuring that all Tesla owners can benefit.
- Grace Period and Refund Option: After purchasing the warranty, owners have a 30-day grace period during which they can cancel and receive a full refund.
- Unlimited Mileage: Unlike many other warranty options, CBI & Finance offers plans that include unlimited mileage.
- Hassle-Free Claims: CBI & Finance facilitates direct payment to service centers, streamlining the repair process. If direct payment isn’t possible, owners will receive prompt reimbursement, subject to a low $100 deductible.
- Transferable Warranty: Should owners decide to sell their Tesla, the warranty can be transferred to the new owner, adding extra value to the vehicle.
For more details on the coverage options and to receive a quote, you can visit CBI & Finance’s website.
