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WMS Group has launched a series of new asset protection products under its Safe & Sound brand.
The new products are designed to complement a motorist’s warranty and include Guaranteed Asset Protection (GAP), Tyre & Alloy Insurance, SMART Repair Insurance and new SMART and Alloy Repair Insurance.
The new GAP product replaces WMS’ existing GAP offer, while Tyre & Alloy and SMART Repair Insurance are being revamped to meet market needs.
Neil Monks, Retail Sales & Customer Services Director at WMS Group, said: “The used car market is currently experiencing an unprecedented demand with the average used car price higher than we’ve ever seen before. With increased demand comes the increased need for a range of warranty and after-sale solutions, so we’re delighted to be launching four new asset protection products at this time, to support retailers in meeting the demands of used vehicle customers.
“In a volatile market that is subject to rapid price changes, these products provide customers with an added layer of protection from unforeseen events such as theft and accident, wheel and tyre damage and minor bumps and scratches. For dealers, these products can offer an additional revenue opportunity that provides greater cover level and enhancements to customers, increasing trust and reassurance to those investing in a second-hand vehicle.
“GAP, Tyre & Alloy Insurance, SMART Repair Insurance and SMART and Alloy Repair Insurance are the first four asset protection products we’re launching as part of our Safe & Sound suite of services. We look forward to working with retailers to continue to improve customer confidence and provide solutions for keeping their vehicles in the best condition possible and keeping them on the move in the event of a write-off.”