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IWS Acquisition Corporation

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LAST UPDATED: September 9th, 2022
IWS Acquisition Corporation was founded in 2012. The company specializes in providing extended vehicle service plans, commonly known as extended warranties, to its customers. IWS specifically serves credit unions and their members, giving added benefit for those financing a vehicle with their credit union or as an added value for account holders at the credit union.

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The Good

  • Powertrain Warranty
  • Roadside Assistance
  • Car Rental Reimbursement
  • Trip Interruption Protection
  • Optional Coverage
  • Powersports Coverage

Powertrain Warranty

IWS offers powertrain coverage in all of its plans. Two of the plans are designed for powertrain protection only for vehicles with up to 125,000 odometer miles and simply cover the powertrain, Powertrain Express, and Sentry. Both cover only the transmission, engine, and drivetrain as well as wear and tear. The Sentry plan is only available to members of a DCUC (Defense Union Credit Council) affiliated credit union.

Roadside Assistance

All plans include free 24/7 roadside assistance which includes towing, vehicle lockout services, emergency fluid delivery (cost of fluids is not covered), and flat tire change (owner's spare). This coverage is fairly standard across the industry and IWS coverage is comparable to that provided by its competitors.

Car Rental Reimbursement

If a vehicle is being repaired with a repair that is covered by the extended service plan, plan holders can be reimbursed the cost of a rental car while the car is in the shop. IWS will reimburse the plan holder up to $500 with a maximum of 10 total rental car days. Compared to its competition, IWS offers better benefits for car rental reimbursement.

Trip Interruption Protection

If away from home and a covered breakdown occurs, the company will reimburse the plan holder for additional travel expenses (food and lodging) of up to $300 while the vehicle is being repaired.

Optional Coverage

IWS is unique in that it includes an option for plan holders to add coverage for lost key fobs into its plans. This coverage, called KeyGuard, is an opt-in benefit for any plan holder. Another unique optional feature by IWS is Accidental Loss Refund which covers the plan holder's vehicle for naturally occurring damage such as a tree limb falling on the vehicle. Most plans exclude damage from acts of God in their plans.

Powersports Coverage

IWS offers plans which cover motorcycles, ATVs, snowmobiles, and personal watercrafts.

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The Bad

  • Warranty Cost
  • Basic Warranty Features
  • Basic Warranty Length
  • Time in Business

Warranty Cost

The cost for coverage is not disclosed by IWS. The company states that it has a deductible of $100 for all covered repairs.

Basic Warranty Features

IWS offers three plans which are comparable to a new vehicle warranty, the Premier Platinum Coverage, Premier Gold Coverage, and Premier Bronze Coverage. IWS states that its plans include wear and tear according to recommended industry limits. The company does not disclose the parts that are included or excluded in these plans for comparison shoppers. Customers have reported that they were subjected to high-pressure questioning by the company and that they were not able to receive information via phone or web form to adequately compare plans. BestCompany.com corroborated these claims and had similar results. The nondisclosure of such basic information by a service contract provider is highly unusual.

Basic Warranty Length

IWS does not disclose the length of its terms, although anecdotal reports suggest that the term for the plans is three years. Vehicles up to 125,000 are covered, but the company states that not all makes or models of vehicles are covered, regardless of its odometer miles.

Time in Business

IWS Acquisition Corporation was founded in 2012. Comparatively, IWS does not have as much experience in the industry as most of its competitors. View the Top Car Warranty Companies

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The Bottom Line

There are many features which make IWS an attractive choice. Transferring a service plan to another individual normally requires an administrative fee; IWS' administrative transfer fee is less expensive than many of its competitors. The company offers added benefits such as expanded car rental coverage and optional key fob protection. The lack of disclosure for some of its features is concerning. BestCompany.com recommends thoroughly examining the contract before committing to purchase for all companies. The extended service plan industry is one that usually includes many exclusions that if customers are not aware of essentially nullify the coverage. IWS is recommended for customers to examine further in their comparison shopping for an extended service plan.

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D.R. Southlake, TX

I purchased a platinum warranty from IWS when i bought my 2015 Jeep Grand Cherokee on 11/26/2021. Mid-June of 2022, I began experiencing a series of issues, contacted IWS, and brought my vehicle to one of their recommended providers. The dealership the jeep was taken to refused to work on the car, as IWS would not let them use new parts to repair the transfer case and module (which would then allow them to work on the steering and transmission). I had to have the vehicle towed from the dealership they referred me to, to an Aamco (who have been nothing short of amazing). This began 6/21/2022.. I'm now 80 days without a car that I'm still paying for, and there's no end in sight for when or if a resolution will be made. IWS has been denying the work/parts the shop has been requesting, and that's only for the transfer case/transfer module. My shop can't even begin to address the transmission or steering, because the vehicle is inoperable, and been on a lift for 80 DAYS!!! I've been begging and pleading with IWS to give me a rental (which an obligation under the warranty contract) and that has been denied or ignored up until the other day. But I only have a rental for 9 days... which... how does that help me moving forward? How do 9 days match up against 80 days of radio silence/nothing from the warranty company? It doesn't. I was told today by IWS that other people in my position just go ahead and trade the car in if the repairs exceed the purchase amount of the vehicle or the consumer tires of wiring for any update/return of the vehicle. I've paid for a contract in full and can't get anything but headache from it. I've made all my monthly payments on a vehicle that I haven't had in my possession for 3 months. I've ensured its insurance has been paid in full for the past 3 months. IWS has done nothing during this time to assist me, only be a hindrance.

3 months ago

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James Estrada Mission, TX

I purchased an extended warranty for my 2015 Mini Cooper thinking the repairs for this model would be costly. The car developed an oil leak around the valve cover so I'm thinking "no problem, I have an extended warranty". Nope, IWS denied the $750 claim stating that valve covers for my car are not covered. When I pointed out the contact specifically says valve covers are covered under the contract, they said Mini Coopers are excluded. Totally worthless extended warranty and it was very expensive. Buyer beware, do not purchase one of these extended warranty contracts.

6 months ago

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Jim B Palm Coast, FL

I purchased this extended auto warranty for a 2014 Jeep Grand Cherokee through our credit union. It is useless to us because Chrysler does not honor any extended warranties except those sold by Chrysler. I’m going to try and get my money bac

3 years ago