RAC Warranty celebrates first birthday
New motor warranty company enjoys successful first 12 months
RAC Warranty is celebrating its first year in business, having been launched in December, 2007 and selling its first warranties in January, 2008.
The new warranty brand, formed by the RAC in partnership with The Warranty Group, has signed up 456 dealers and established itself as a leading player in its market sector.
Ian Simpson, sales and marketing director at RAC Warranty, said: “This has clearly been a tough year in which to launch any new entry into the warranty market but the strength of the RAC brand and our comprehensive product offerings have produced good results.
“While any significant revival of the used car market is unlikely during 2009, we will be working hard to support dealers with initiatives such as new training programmes that will help to maximise warranty penetration.
“‘Safety net’ products such as warranties often prove popular during recessions, and we are aiming to work with dealers to ensure that we exploit every possible opportunity in order to prosper despite the difficult conditions.”
RAC Warranty offers an extensive range of products for FSA compliant dealers – Parts and Labour Cover at Silver, Gold and Platinum levels, GAP Loan Shortfall Insurance, GAP Return to Invoice Insurance, Tyre Insurance, MOT failure Insurance and Lost Keys Insurance. Depending on the level of warranty cover there is no exclusion to the age or mileage of the car as long as it meets minimum purchase price requirements.
Additionally, a product called RAC Service and Maintenance, providing excellent value to consumers but not subject to FSA regulation has been developed which will allow a large number of dealers to add significant benefits to their ongoing customer relationships.
See also:
