Most expensive warranty claims in 2020 have exceeded £6,000, RAC Dealer Network figures show

News Release

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:

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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