Three individual automotive warranty claims on used cars sold by the RAC Dealer Network in 2020 have topped £6,000, new figures reveal.
A Top 10 of the most expensive repairs paid by Assurant - which partners with the RAC in the warranty and aftersales sector – to RAC Warranty holders shows claims for a first servo at £6,687, oil pump £6,504 and gear bearings at £6,270.
They are followed by a supercharger at £4,107, first brake band at £4,014, first clutch pack at £3,496, complete exchange engine unit at £2,785, torque converter at £2,698, nearside rear drive shaft at £2,633 and offside rear drive shaft at £2,632.
The RAC Dealer Network consists of 1,350 dealers across the UK who sell RAC branded warranties and other products delivered and supported by Assurant.
Kellie Grocott, RAC director of sales at Assurant, said: “Overall, we believe that these figures underline the value of warranties to used car buyers across the RAC Dealer Network. A warranty exists to protect the holder against unexpected costs and these figures show the types of claims that can be made and the significant bills incurred.
“The dealers in our network go to great lengths to source and prepare very high quality used cars but the nature of running any vehicle over time means that problems can and do occur, and the propositions that are built by our dealers working in partnership with the RAC and Assurant, placing our warranties at their heart, provide very strong protection for motorists.”
She explained that many of the most expensive issues shown in the list were of the kind that would have been undetectable during even an extensive test drive or a detailed vehicle inspection.
“However thoroughly potential buyers approach their car search, some issues won’t show up even to an expert looking at a used car. For most motorists, these faults will have come out of the blue – and their warranty has protected them from some extraordinarily steep bills.”
Grocott added that, perhaps surprisingly, the cost and type of claims made during 2020 appeared to have been largely unaffected by changes in motoring patterns prompted by the coronavirus crisis.
While driving patterns have changed this year because of the lockdowns we have all experienced, we continue to see major claims coming in, with our warranties playing an important part in helping customers to keep their vehicles on the road.”
TABLE: Top 10 individual claims for 2020:
Item Parts, labour and VAT cost
First servo £6,687
Oil pump £6,504
Gear bearings £6,270
Supercharger £4,107
First brake band £4,014
First clutch pack £3,496
Engine - complete exchange unit £2,785
Torque converter £2,698
Drive shaft nearside rear £2,633
Drive shaft offside rear £2,632
About the RAC
The RAC provides complete peace of mind to 12m UK private and business drivers, whatever their motoring needs. Its services include:
- Breakdown assistance. Its highly skilled, 1,600-strong branded patrol workforce attends more than two million breakdowns every year, fixing on average four out of five vehicles at the roadside. The RAC’s patrol fleet is one of the most advanced in the UK, and was the first to roll out both an All-Wheels-Up recovery system, allowing the vast majority of vehicles to be recovered from a single patrol van, and EV Boost mobile electric vehicle charging units
- Insurance. The RAC is a top-five car insurance broker having surpassed the 500,000 policies-in-force milestone in 2018. It also offers ‘black box’ telematics policies, as well as home and travel insurance
- Other motoring services. The RAC leads in the development of new solutions for business, fleets, electric vehicles and future car technology. Its additional products and services include a personal loans offering, a used car buying website, vehicle inspections and checks, legal services or up-to-the-minute traffic and travel information. It also has a network of Approved Dealers and Approved Garages
The RAC also works to support the interests of its members and UK drivers on the most important motoring issues which it identifies via the annual RAC Report on Motoring and the RAC Opinion Panel. The Report on Motoring is the longest running analysis of driver opinion in the UK having been published every year since 1989.
For more information about the RAC, visit the RAC website.
About Assurant
Assurant, Inc. (NYSE: AIZ) is a leading global provider of lifestyle and housing solutions that support, protect and connect major consumer purchases. Anticipating the evolving needs of consumers, Assurant partners with the world’s leading brands to develop innovative products and services and to deliver an enhanced customer experience. A Fortune 500 company with a presence in 21 countries, Assurant offers mobile device solutions; extended service contracts; vehicle protection services; pre-funded funeral insurance; renters insurance; lender-placed insurance products; and other speciality products. The Assurant Foundation strengthens communities by supporting charitable partners that help protect where people live and can thrive, connect with local resources, inspire inclusion and prepare leaders of the future.
Learn more at assurant.com or on Twitter @AssurantNews.
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