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IWS Acquisition Corporation

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LAST UPDATED: January 27th, 2023
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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4 Reviews

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1 grade

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Rex F Jacksonville, FL

I've read the reviews here and felt the need to share a positive experience. I purchased an IWS warranty through my credit union and shortly afterward the shift knob in my 2016 Ram 1500 broke at about 38,000 miles, just out of the factory warranty parameters. Took it to the dealership and they said it was an $800 repair. IWS covered it with no problems. The RAM dealership I go to hasn't had any problems with them and I know because I asked. I just bought another extended warranty with them because they were, once again, the best deal of all the quotes I got, far less expensive than the others. I do need to point out that my vehicles have all been under factory warranty but nearing the very end of their 3-years/36,000 miles and still covered by the drivetrain warranty 5 years/60,000 miles. I purchased this last warranty a month before the factory bumper-to-bumper warranty ran out. Don't know if that makes a difference in cost, but I'm guessing it does. I mainly got the warranty to cover all the electrical/electronics. I got one for my new "used" 2020 Ram 1500 with just over 15,000 miles but is at the 3-year mark. I opted for one that is a 6-year/80,000 miles because I don't put that many miles on it. That covers it for 6 more years bumper to bumper except for maintenance items and cosmetics. Every situation is different, every shop is different (I think sometimes the shop is more of the problem). If I ever have a bad experience, I'll put that up here too, but so far I haven't with them.

1 year ago