Warranty protection for car manufacturers and owners
We all know that vehicles are not created equal. Experience suggests that mechanical and electrical breakdown is more likely to occur when a vehicle has been used for more than three years and the chance of breakdowns will increase significantly over time. Beyond the standard warranty period, car owners will have to bear the risk of growing costs for potential repairs and replacement unless they are covered by an extended warranty, either at extra cost or built in the original manufacturer’s warranty at the point of purchase.
QBE has developed an unrivalled reputation for delivering successful product protection insurance programs globally. Our success has been built on providing world-class tailored solutions for commercial clients including manufacturers, wholesalers and retailers of motor vehicles and electronic products. In Asia, our expertise is providing warranty and financial shortfall protection for car manufacturers and owners. With our extended warranty cover, even after expiry of the original manufacturer’s warranty, car owners are well-protected and have no need to worry about payments for sudden repairs. If covered by our financial shortfall benefits, total loss or replacement of the vehicle will not become a sudden financial burden on the owner. As for car manufacturers or dealers, our warranty and financial shortfall plans provide hassle-free value-added services for their customers.
Warranty Insurance (Asia Care Warranty)
- Protection begins immediately after the original manufacturer's warranty expires or at the point of car sale if the original manufacturer's warranty has already elapsed
- Covers the cost of repair/replacement of a covered component in the insured car due to sudden and unexpected mechanical or electrical breakdown
- A range of warranty period/mileage options are available to suit a variety of driving, vehicle and budget needs
Financial Shortfall Insurance (Gap)
QBE offer three different types of Gap products for motor business :
- Financial Shortfall - designed for vehicles purchased with motor finance, financial shortfall covers the shortfall (if any) between the motor insurers total loss settlement and the outstanding balance under the motor finance agreement
- Return to Invoice - designed for vehicles purchased with motor finance or cash, return to invoice covers the difference between the motor insurers total loss settlement and the original net invoice price of the motor vehicle
- Vehicle Replacement Insurance - designed for vehicles purchased with motor finance or cash, vehicle replacement insurance covers the difference between the motor insurer’s total loss settlement and the price of a new replacement vehicle of the same specification as the original new car
* The above only serves as a general description of our products and services in some of our Asia Operations. Please note that not all the products are offered in all markets. To check on the availability in your market simply click the Product Finder on the left for availability in your market. For product details and coverage, please check with your local insurance broker or a QBE authorised agent.