Car Warranty Sales
With the growth in car warranty sales online, some analysts are suggesting that UK consumers could save up to 50% on the cost of their existing car warranty policies. Do online deals live up to the hype?
The car warranty market in the UK is diverse and can often seem to be rather complicated. Many consumers struggle to understand some of the key concepts that surround this area, while a lack of knowledge of the range of products on offer is leading to some car owners paying over the odds.
The history behind the exisiting situation helps to explain how things have come about. Independent car warranty companies have traditionally been slow to directly engage with car owners. Rather than spending heavily on advertising, they've often been content to sell their products via third parties.
These third parties, such as car dealerships, have sold policies to members of the public, frequently at a premium.
This approach to car warranty sales meant that specialist firms could concentrate on providing cover, while car retailers were able to do what they did best: sell.
Unfortunately, the deal didn't seem quite so good for car owners. Having to pay a premium for car warranties meant that we weren't getting the best deals possible. The solution seemed obvious - cutting out the middleman could save us plenty.
Warranty companies have been keen to embrace this change, realising that the internet offers them an excellent opportunity to sell their products direct.
This has also been good news for the consumer, with competition being much more evident in the warranty market, leading to prices falling as rival companies look to compete for our business. Long may it continue!
Related information:
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