business insurance

Warranty Trends for 2019

Warranties give a buyer added protection and peace of mind following a sale, knowing that if anything goes wrong, they have a solution. There has been a trend towards customers taking out longer term warranties recently. Indeed, the number of extended warranty purchases is increasing year on year, and according to Allianz Partners, the motor industry saw a healthy 6{9d1921ed47a6e9bdbcf59a315661faa5592db1cabff1ed705dedc33b1d69f194} rise over 2017.

Longer warranties becoming more popular

Over the past year, there has been a 10{9d1921ed47a6e9bdbcf59a315661faa5592db1cabff1ed705dedc33b1d69f194} decrease in sales of shorter three-month warranties, with the market shifting toward longer warranties as motorists feel that their finances are less secure. They are turning to products which offer more for their money over a longer term.

The trend towards taking out longer standard warranties is set to continue well into 2019. With annual sales of around eight million used cars, drivers are becoming more tuned into the advantages of having longer term cover with a warranty.

Insurance is a standard requirement for vehicles and businesses wishing to purchase competitively price motor trade insurance can find an online motor trade insurance quote online, to cover aspects including vehicle sales and servicing, mechanics and the valeting team.

According to Motor Trader, first impressions are essential when visiting a showroom, from having friendly reception staff to easy parking. That’s according to Motor Trader Awards judge, Sue Baker. She says it’s always the people that make a visit to a dealership memorable.

Choosing the best level of cover for your vehicle

It’s down to the showroom staff to discuss the best level of cover with the customer and how it will benefit them long term. Solid, reliable extended warranties will cover not just the basic mechanical and electrical parts of the vehicle, but also the added components such as gadgets like Bluetooth and the satellite navigation system, as well as parking sensors, heated seats and the cruise control option. These perks can make the warranty seem attractive and a good fit.

Dealerships are recognising that customers are genuine and often loyal buyers who put their trust in the staff to treat them fairly and to deliver the most suitable advice in relation to warranties. They also expect a full explanation of how the warranty can cover them and what to do in the event that it has to be used.