Assurant Extends Deal with RAC to 2029

News Release

  • Assurant extends partnership with RAC for a further five years
  • The deal covers a range of well-established RAC-branded warranty and dealer insurance products, as well as support for the RAC Dealer Network including RAC Approved Dealers.

London, March 10, 2021: Assurant (NYSE: AIZ), a global provider of lifestyle and housing solutions that support, protect and connect major consumer purchases, including vehicle protection products and services, has extended its partnership with the RAC to provide protection cover for RAC Dealer Network customers until 2029.

The deal covers a range of well-established RAC-branded automotive warranty and aftersales products, delivered and supported by Assurant, that are already available across the RAC Dealer Network of 1,300+ members. These include:

  • Extended Warranty: Assurant provides a range of extended warranty products, along with the option for customers to pay by direct debit;
  • EV One: Assurant’s most comprehensive automotive warranty cover to date, providing wear and tear cover for electric and hybrid vehicles;
  • Cosmetic Insurance: Assurant offers a full suite of products to RAC dealers, including RAC Scratch and Dent Insurance, RAC Combined Alloy Wheel and Tyre Insurance and RAC Alloy Wheel Insurance;
  • Service Plan: Assurant provides the option for customers to pay for their future service in monthly payments, rather than one lump sum;
  • A digital marketing pack: to support RAC Approved Dealers in maximising online sales, which has grown in importance as customers choose to interact digitally now more than ever.

With the current contract set to end in 2024, the agreement marks an early extension. As a result, Assurant will continue to provide its expertise in automotive protection and warranty products to the RAC Dealer Network for a further five years.

The new extension means Assurant and RAC will have collaborated for over 20 years. The two organisations have partnered since 2008 when the original arrangement was signed by The Warranty Group, acquired by Assurant in May 2018. During this time, the partnership has resulted in the creation of market-leading automotive protection products, providing consumers with access to value-added services from a credible and trustworthy retailer1, with the support and backing of Assurant, a Fortune 500 company.

Sean Kent, UK Automotive Director for Assurant, said: “In these uncertain times, customers want to know their vehicles are protected. We understand the value and importance of the RAC brand to both dealers and consumers. The renewal of our partnership with the RAC until 2029 brings continuity to the RAC Dealer Network and ensures that our wide range of products – from extended warranties to cosmetic insurance - is available to RAC Approved Dealers across the UK. We’re pleased to continue the partnership to provide vehicle owners with peace of mind from unexpected motoring costs.”

RAC consumer roadside managing director Andy Baker, said: “Despite an overall reduction in miles driven during the pandemic our research shows reliance on cars has increased, with more people saying their car is important to them. Therefore it’s vital anyone buying a used car can do so with ‘complete peace of mind’ and confidence which is why renewing our long-term relationship with Assurant to continue running our best-in-class dealer network is critical.

“Growing the network so more people up and down the country can benefit from RAC products and services that genuinely put the customer first, such as tailor-made warranty solutions, is our shared ambition. Alongside this, we will continue to innovate together to bring some exciting new products to market.”

Notes:

1 Research carried out for Assurant at the end of 2019 by Harris Interactive showed that more than two out of three buyers felt more confident thanks to the presence of the RAC brand.


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