I saw an ad for this, and of course it's interesting marketing...but there's nothing you wouldn't expect, once you read the fine print. There's certainly nothing that's even worth changing oil brands for if you don't already prefer Valvoline.
Marketing front page:
http://www.engineguarantee.com
Summary of terms:
http://www.engineguarantee.com/displ...=about_program
Actual terms:
http://www.engineguarantee.com/view_terms
When it's all said and done, I wouldn't be surprised if they never pay a single claim. It's no surprise and I don't blame them for it. It's good marketing.
They only cover parts that are directly protected by engine oil from failures that can be directly attributable to engine oil and only under complete failure where it won't run at all. They won't cover anything that could be anyone's fault, stuff that's subject to manufacturer's recalls, any car that's had any kind of major damage (flood, fire, crash), etc. They won't cover you if you don't follow all recommended maintenance schedule stuff, specifically mentioning air filter changes. They won't cover you if there is anything else wrong with the car even if it's totally unrelated, like emissions equipment or exhaust.
After reading all the terms...I can't say that I've ever heard of an actual failure that would qualify in this program.
Practical upshot: In a few years, buying a used car where somebody has kept records of compliance with this program should mean you're buying a well-maintained car. Just ask them about the program's conditions and see if they're aware of it all.
__________________