We offer a range of automotive warranty products and while we have assessed these individually, we have provided a collated statement below.
Customer type: Individual customers (private vehicle owners) owning a vehicle, new or used.
Customer objectives and needs: Cover the costs of repairs in case of a breakdown affecting the functionality of the vehicle. To prevent loss of vehicles’ value.
Inherent risks: Possible misunderstanding of the cover by the customer, especially in the case of full cover. In that sense, all wordings were revised to ensure clarity and non-contradictory language used to maximise customer understanding full.
Potential negative target market (customers who mustn't be offered this product): Customers below 18 years of age and who are not UK residents. Customers who own vehicles for specific usage: driving schools, buses, off-road vehicles, competition vehicles, agricultural vehicles and machine vehicles. Other exclusions apply such as salvaged vehicles, value and mileage restrictions and vehicles that have been modified without approval.
General exclusions: Wear and tear parts. Maintenance costs. Damages to the chassis and body (scratches, dents, paint damage, corrosion). Damages resulting from improper use of the vehicle. Damages caused by traffic accidents.
Product appropriateness and testing:
- Product is consistently revised to ensure best response to customer needs
- Product is to be adjusted based on actual experience from running programmes.