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Portfolio Protection Vehicles & Services

Portfolio Protection Vehicles & Services
Overall Satisfaction Rating 1.72/5
  • 5 stars
    8
  • 4 stars
    2
  • 3 stars
    4
  • 2 stars
    0
  • 1 stars
    50
Based on 64 ratings

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    Portfolio Protection products are designed to make your ownership experience with your vehicle a happy one. By providing vehicle service contracts to cover the high cost of repairs and Guaranteed Asset Protection (GAP) to help you financially if your vehicle is totaled, the company helps you manage your budget and keep your vehicle the way you want it.

    BOTTOM LINE

    Portfolio Protection offers an array of coverage options for new and used vehicles, including RVs and motorcycles. They’re only available through dealerships, but there’s a suitable plan for nearly everyone.

    PROS

    • For new and used vehicles
    • Range of coverage options
    • Covers more than just cars

    CONS

    • Only available through dealerships

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      Top Portfolio Protection Vehicles & Services Reviews We Found

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      Rated with 5 stars
      Verified Reviewer

      Bought a Portfolio extended service contract on my son’s Nissan Sentra as a “just in case” because he was going to graduate school a 12 hour drive from our home. Boy am I glad I did. The car had multiple issues (air compressor, transmission). My son was able to get the issues taken care of.

      Read full review
      Rated with 5 stars
      Verified Reviewer

      Absolutely a wonderful, professional company! I got a flat tire on a Saturday night ... I was told 7-10 business days I would receive my check for $170. Well it was on the 4th day I received a check for $170! Thank ya'll for the fast & easy work. So worth the money I pay for the extended warranty!

      Read full review

      What is Portfolio Protection?

      Portfolio Protection is a company that offers vehicle service contracts — also known as car warranties — to owners of new and used vehicles. Portfolio Protection covers cars, RVs, trucks, motorcycles, ATVs, trailers and boats.

      The name Portfolio Protection comes from the financial term describing actions taken when one proactively protects a portfolio from potential losses or damage. When you purchase a car warranty through Portfolio Protection, you are doing the same thing for your car. Portfolio Protection’s warranties are only available through select dealerships.

      Portfolio Protection cost

      Portfolio Protection doesn’t have prices listed on its website, but most extended car warranties cost between $400 to $600 a year. The exact cost depends on three main factors:

      • The amount of coverage
      • The mileage of the vehicle
      • Your driving habits

      Although Portfolio Protection doesn’t show prices on its website, it does show average car repair costs you can expect without car warranty coverage.

      Portfolio Protection plans

      Among several other products, Portfolio Protection has three limited warranties:

      • SelectShield protects all significant powertrain parts and is tailored to fit the specific needs of the car owner.
      • Certified Pre-owned replaces or supplements a manufacturer's pre-owned factory certification.
      • EverDrive is a limited powertrain warranty covering you for the time you own the car.

      Each Portfolio Protection plan can include exclusionary coverage, powertrain coverage, stated component coverage, wrap coverage and high-tech coverage.

      Exclusionary coverage protects everything other than components that require regular maintenance, such as oil changes. Exclusionary coverage protects:

      • Rack and pinion
      • Engine
      • Water pump
      • Transmission
      • Transaxle
      • Air conditioning
      • Drive axle
      • Brake calipers
      • ABS brakes
      • Fuel pump
      • Computer modules
      • Navigation display
      • Engine control module
      • Power steering

      The high-tech coverage is restricted to used cars and covers all high-tech components. Wrap coverage is for drivers with existing powertrain coverage that would like to upgrade to exclusionary coverage.

      Portfolio Protection benefits

      In addition to coverage for various vehicle components, Portfolio Protection offers several benefits, including towing services and rental car reimbursement.

      • Portfolio Protection covers up to $50 of towing costs per occurrence.
      • Rental car reimbursement coverage kicks in if your car is in the shop for repairs and you require alternate transportation.

      Portfolio Protection FAQ

      Can I cancel Portfolio Protection?
      Yes. If you cancel within the first 30 days, you can receive a refund on your car warranty. However, this is true of almost all extended auto warranties.
      What’s the best Portfolio Protection plan for me?
      The best plan and coverage depends on your specific situation. For instance, powertrain coverage is the most basic, while exclusionary coverage protects just about everything a car warranty can cover. As the Portfolio Protection website suggests, discuss all your options and concerns with your car dealership representative.
      Are Portfolio Protection warranties transferable?
      Yes, warranties from Portfolio Protection are transferable to your next car.

      Is Portfolio Protection worth it?

      Auto warranties are always a good way to protect your wallet. With Portfolio Protection, you pay a monthly premium to keep from having to make costly payments for expensive repairs. The company only sells warranties through select dealerships, but purchasing one might be a good choice for eligible customers.

      Portfolio Protection Vehicles & Services Reviews

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      How do I know I can trust these reviews about Portfolio Protection Vehicles & Services?
      How do I know I can trust these reviews about Portfolio Protection Vehicle Protection Products?
      • 2,594,823 reviews on ConsumerAffairs are verified.
      • We require contact information to ensure our reviewers are real.
      • We use intelligent software that helps us maintain the integrity of reviews.
      • Our moderators read all reviews to verify quality and helpfulness.

      For more information about reviews on ConsumerAffairs.com please visit our FAQ.

      Page 1 Reviews 0 - 10
      Rated with 1 star
      Verified Reviewer
      Original review: Nov. 28, 2020

      I paid for a warranty on my 2011 f250, sent it to the dealer and was told it needed over 8k in repairs, they sent it an inspector and after his review they would not honor their warranty, the CERTIFIED inspector claimed there was a programmer tuner on my truck which is false, saying the vehicle is modified therefore voids warranty, I sent them photos and receipts showing and proving this is a MONITOR, NOT PROGRAMMING DEVICE, After several attempts to speak with someone with enough authority to help, to no avail I was ignored, hung up on, and told the is a STATE CERTIFIED INSPECTOR, in which case he sounds if done his job properly and examined everything, instead to get out of the work need they falsely claimed the truck was modified, Do not purchase this warranty, nothing BUT PROBLEMS FROM THEM AND THEY WILL DO ALL IN THEIR POWER TO DISCREDIT AND VOID ANY RESPONSIBILITIES TO THE REPAIRS.

      Portfolio Protection Vehicles & Services response

      We appreciate your feedback and apologize for the circumstances that prompted your reaction. Portfolio Protection policies offer a lot of value and we understand that it is unfortunate when your specific needs are not covered to your satisfaction. We would appreciate the opportunity to discuss this further with you. Please contact our Director of VSC Claims, Neil Payne, at 800-335-8769.

      Be the first one to find this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Nov. 23, 2020

      How about a experience from the middle man? I am the person that handles calling and submitting claims for approval. I have been in the automotive industry for about 7 years and have worked with many extended warranties. This service experience has deterred me from ever wanting to buy and or work with this company. When starting the claim the mileage was submitted wrong when the contract was purchased, that held back the claim process for two business days. After the mileage was corrected I submitted the repair estimate for review. The claims representative stated the review can takes 24-48 hours (unbeknownst to me it was working hours not days). This was just to review if an inspector was needed. Finally 4 days later they stated they were sending and inspector to review the vehicle, that would be another 24-48 hours.

      The inspector came the next day and submitted the findings the same day (Friday) it took them another 2 days to review for approval or not. When I asked to speak the a manager they kept telling me they had no way of contacting the “review team”. They were a 3rd party and could only be emailed. All while the customer had no rental authorization until the claim was approved. Which maximum was 5 days.

      When finally approved they stated they were sending a used part for the repair, and told me another 3-5 business days. Followed up on the 5th day for a status on the part and was told they had no idea where it was. By this point rental is over the vehicle has been here a total of 17 days and counting. And no status to give the customer as to when the vehicle will be completed. No management assistance, no helping the customer for their lack of reasonable time frame, no phone calls returned when said they were. The whole experience in my years of experience has been the absolute worst with this company. The amount of lack of caring about the customer has been overwhelming.

      Portfolio Protection Vehicles & Services response

      We appreciate your feedback and apologize for the circumstances that prompted your reaction. Portfolio Protection policies offer a lot of value and we understand that it is unfortunate when your specific needs are not covered to your satisfaction. We would appreciate the opportunity to discuss this further with you. The review process should not extend beyond 24 hours. Please contact our Director of VSC Claims, Neil Payne, at 800-335-8769.

      Be the first one to find this review helpful

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        Rated with 1 star
        profile pic of the author
        Verified Reviewer
        Original review: Sept. 29, 2020

        I have a 100k mile bumper to bumper warranty that covers Electrical, Electronic High Tech Components, and Electrical Plus (Plan CA Companion). I am at 73k miles, denied coverage for ignition coil replacement. The plan is advertised as bumper to bumper. I am very disappointed and dissatisfied, and will be posting this anywhere I can. The dealer that my car is at is also confused and the service manager just told me that he's never heard of a bumper to bumper plan that didn't cover ignition coils.

        Portfolio Protection Vehicles & Services response

        We appreciate your feedback. We do not offer a “bumper to bumper” coverage. Only the Manufacturer can provide that coverage during the Basic Warranty period on a New Vehicle. The Companion Stated Component Coverage has all of the covered components specifically listed on your policy. It does not cover the Powertrain components, or any items listed under What is Not Covered. To provide coverage, the failed part must be specifically listed on page 2 of your Agreement under STATED.

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        Rated with 1 star
        Verified Reviewer
        Original review: Aug. 2, 2020

        They are crooks!!! They'll take your money and deny any warranty claims!!! I've had my car at a dealer's servicing location for a week because Portfolio won't pay for the work. I have the most expensive plan of theirs for what? Nothing. No peace of mind and a car that's not fixed! They will give you the run around to save on paying for anything. Worst regret is buying their policy!

        Portfolio Protection Vehicles & Services response

        Hi Amy, we appreciate your feedback and apologize for the circumstances that prompted your reaction. Portfolio Protection policies offer a lot of value and we understand that it is unfortunate when your specific needs are not covered to your satisfaction. We would appreciate the opportunity to discuss this further with you. Please contact our Director of VSC Claims, Neil Payne, at 800-335-8769.

        6 people found this review helpful
        Rated with 1 star
        profile pic of the author
        Verified Reviewer
        Original review: July 21, 2020

        Recently bought a brand new 2019 Ram 1500 truck. This Portfolio protection "Express Five" warranty service was presented as an extended warranty for small minor repairs. Especially glass protection. I've owned the truck for exactly one year so far. I recently came across my front windshield being cracked. Figured this would be the best opportunity to use my $799.00 - 5 year warranty that I paid for. Decided to call them up and start the claim process. Was told over the phone that since my crack was more any 2 inches that they couldn't do anything and that "window replacement" is not covered. So basically I will be out $1,039.50 dollars for the window and an additional $799.00 because I refuse to ever contact them again for anything. Think about it, they pocketed my money and made interest off it and refused to help. If a company can't replace a window would hate what they would do to people with a serious problem. I feel taken advantage of. For the sake of my misfortune, please don't buy their coverage, frankly they are a scam! Just read other reviews and run!

        Portfolio Protection Vehicles & Services response

        Hi Nicholas, we appreciate your feedback and apologize for the circumstances that prompted your reaction. Portfolio Protection policies offer a lot of value and we understand that it is unfortunate when your specific needs are not covered to your satisfaction. Your contract contains language that describes what is and what isn't covered. We would appreciate the opportunity to discuss this further with you. Please contact our Ancillary Claims Supervisor, Chris Martin, at 877-705-4001.

        5 people found this review helpful
        Rated with 1 star
        profile pic of the author
        Verified Reviewer
        Original review: April 29, 2020

        When I purchased this product I was never told that the only place I could have repairs made were at the dealer I purchased it from. If you are within 40 miles from the selling dealer you must take it there. Outside 40 miles require pre-authorization. As it is I do reside more than 40 mi. My truck needed struts so I called and was pre approved. I made the appointment, got the work done. When the mechanic called the claim was disapproved because it was made closer than 40 miles. Here's the kicker they measure the distance by straight line not by driving miles. So this policy is useless unless I wish to drive 1.5 hours or have it towed at more expense than the repair. DO NOT BUY THIS POLICY.

        Portfolio Protection Vehicles & Services response

        The Agreement does have a requirement to return to the Selling Dealer if you are within 40 miles. It also requires pre-approval for all repairs. Always ask the Repair Shop to call before doing any work. Please submit a copy of your paid Invoice to dallasclaims@Portfolioco.com for review.

        6 people found this review helpful
        Rated with 1 star
        Verified Reviewer
        Original review: April 15, 2020

        Do NOT buy a warranty from this company. All they do is decline every claim saying it’s not covered. When you buy a bumper to bumper warranty and they say it’s not covered. That is their normal answer. You would have to know every tiny little nuance of your car. It states they cover the air conditioning but when an actuator malfunctions and it clicks and runs even when the car is off and could drain the battery or worse the wiring catch on fire that is not covered. 3 things I’ve brought my car in for in less than a year that their answer is NOT covered and get rude about it. Their customer service sucks and give attitudes. STAY AWAY from them.

        Portfolio Protection Vehicles & Services response

        The failed component must be specifically listed under What Is Covered on your Agreement. The 2 covered items on your Policy for the hub/wheel bearing and wiring harness repairs were covered for an approved amount of $1,258.19. We do not offer a bumper to bumper Agreement. Your calls will be reviewed, and necessary actions will be taken to ensure you have a positive experience in the future. Please call if you have any additional questions. Neil Payne 866-460-1308

        5 people found this review helpful
        Rated with 1 star
        Verified Reviewer
        Original review: March 18, 2020

        I was under the impression I could take my vehicle to any Jeep dealer for service. Well lo and behold I have been at one for almost three hours today for this. Protection company inform me my stuff is covered but needs to be brought back to where I bought the vehicle. Seriously? This is 100% inconvenient for the customer that paid you just under me $3,000.00 for this dumb **. Ask if the dealer can go with another company for your protection and not this one.

        16 people found this review helpful
        Customer increased Rating by 2 stars!
        Verified Reviewer
        Resolution response: March 17, 2020

        So I have to submit an update regarding my initial review. Portfolio wasn’t completely at fault for the entire process and it took way too long to find that out. So after my initial claim was filed on 3/10 it took until 3/16 and probably 20-30 calls in that time frame to portfolio to finally be told that the authorization they were waiting on that was coming from the underwriter was coming from the dealer that sold me the car! So all the escalation emails sent from portfolio's customer service reps as well as a couple supervisors that weren’t responded to from the selling dealer was a huge waste of time. I finally asked the question of, "Who is this underwriter you’re waiting on?! I’ll call them!" That’s when I find out that it’s someone working for the dealership that sold me the car! 6 days later! So I got in touch with the selling dealer and a day later I am completely approved for the work to be done on my vehicle!

        So my initial review blasting portfolio wasn’t entirely deserved. However how long were they going to let this go on for before someone other than myself sought out additional answers? So I’m raising my stars from 1 to 2 at the moment and I will update again after the work of performed and this claim is completed. I just think this all went on way too long to not receive any response to their numerous emails to the underwriter at the dealership I bought the car from. If I didn’t ask questions and that awesome customer service rep didn’t tell me the underwriter worked for the selling dealer I would still be without a vehicle. At least I can now rent a car since the authorization was approved. Because my rental reimbursement only kicked in after the claim was authorized. I’ll be back in a few days to update and possibly raise my star review.

        Original review: March 13, 2020

        Updated on 03/20/2020: So here is another update from my previous reviews that I’ve submitted from my first claim with Portfolio. Hopefully you’ve read the others or this one won’t make sense. So after everything was authorized by the underwriter from the dealer that sold me the car everything went smoothly. The work was done by my Nissan within two days and I was on my way with my car back. Payment went smoothly and there were no more snags. I did raise my rating by 1 more star (from 2-3) simply for the smoothness after authorization was received by Portfolio. So I guess the moral of this whole story is to ask questions and demand answers.

        As well as, if you recently bought a car from a dealer with Portfolio’s protection plan you have to understand that if the work you’re claiming needs to be reviewed for authorization that comes from the dealer that sold you the car. So if it’s taking a long time for approval call the dealer that sold you the car and push them. Portfolio is 3rd party so they work with the dealer that sold you the car. Do not wait 6 days for answers like I did. If I would’ve known this I probably could’ve gotten approval within 24 hours and had my dealer order the parts and fix it and it would’ve likely only taken 2-3 days. My loss is your gain. But I have restored faith in the services portfolio will provide me moving forward, but they do have some customer service work to do on their end. I will continue to review this company as I need work and raise or lower my rating accordingly.

        Original Review: If I could give 0 stars I would most certainly do it. I’ve had my vehicle and their coverage for around a month and my car broke down and had to take it to the dealer. I am currently without a car for 4 days and the authorization for the fix is still pending! It’s not a matter of if the part is covered because it most certainly is. I am of the opinion that this is just like any other insurance company in the matter of paying out claims. They want to make it as big a headache as they can to deter people from using it.

        If you are doing research on this company because you either are buying a car from a dealer that is selling this service or just looking for extended warranty places on your own take my advice and either find a new car at a new dealer or find a different warranty company to buy from! RUN THE OTHER WAY AS FAST AS YOU CAN FROM THIS PLACE! So for this fix I will typically be without a car for almost 2 weeks from the date of the initial claim. This company sucks big time! DO NOT BUY!

        Portfolio Protection Vehicles & Services response

        Hi Jeff, we appreciate your feedback and apologize for the circumstances that prompted your reaction. Portfolio Protection policies offer a lot of value and we understand that it is unfortunate when your specific needs are not covered to your satisfaction. We would appreciate the opportunity to discuss this further with you. Please contact our Director of VSC Claims, Neil Payne, at 800-335-8769.

        5 people found this review helpful
        Customer increased Rating by 1 stars!
        Verified Reviewer
        Resolution response: Feb. 2, 2020

        I took my 2016 Chevy 3500HD Duramax truck into the dealership. I thought it was a brake system problem but turned out to be the steering box gear. It took 3 days, pictures and phone calls by the dealership over those 3 days to get an answer from Portfolio. They authorized the repair which is about $1500 retail. The process took longer than I thought it should. The dealership made it sound as if Portfolio might not authorize the repair. In the end the truck was repaired and all it cost the $100 deductible. I was happy that the truck was fixed, but it took from Monday (with appointment) until Friday to get the truck back. So the process is not as smooth as it could be, and that is why I gave them 4 Stars.

        Original review: Jan. 20, 2020

        Update on 01/22/2020: It is now day 2 and after further testing and sending pictures to warranty company I was told it will take a little more time to decide whether or not to replace my power steering gearbox, not the power steering pump. I don't understand the delay. The truck is garaged, has never been in an accident and has always been driven with care. The dealership will call them again in the morning to see what they have decided. Update coming.

        Original Review: I just took my Silverado into the dealership. A problem with the power steering was diagnosed. A new power steering pump is needed. I was told by the dealership that Portfolio asked them to do "further testing" before the would authorize paying for the repairs. That it would take another day before they have an answer. I wanted to start this review in real time to share a real experience with Portfolio.

        5 people found this review helpful

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          Portfolio Protection Vehicles & Services Company Information

          Company Name:
          Portfolio Protection Vehicle Protection Products
          Company Type:
          Private
          Ticker Symbol:
          none
          Year Founded:
          1990
          Formerly Named:
          Portfolio Protection Vehicles & Services
          Address:
          25541 Commercentre Drive, Suite 100
          City:
          Lake Forest
          State/Province:
          CA
          Postal Code:
          92630
          Country:
          United States
          Phone:
          (877) 705-4001
          Fax:
          (949) 727-0393
          Website:
          portfolioco.com