Tips For Buying A Vehicle Service Contract

A vehicle service contract (VSC) is a smart investment. It can help cover the cost of unexpected repairs and keep your vehicle running at its best. But how do you know if the plan is right for you? Here are a few questions you can ask your VSC salesperson to make sure you know exactly what you’re getting.

Never Ever Worry About Repairs

  

How Much Does The VSC Cost?

Obviously, money is one of the most important factors in the decision-making process. Is your vehicle worth the investment? If so, you’ll want more coverage, which means more money. However, the amount you pay now could add up to hundreds of dollars in savings later. 

What Does The VSC Cover?

Consider your driving habits and the make and model of your vehicle. For instance, if the company who manufactures your car is known for the quality of their interior components and you plan on keeping your vehicle in a garage, then you probably don’t need paint and fabric protection as part of your VSC. 

How Long Does The VSC Last?

Again, the way you drive has a big impact. If you plan on keeping the vehicle for several years or know you’ll be spending a lot of time on the road, then having a VSC makes a lot of sense. You’ll also want to know if your vehicle is currently under a manufacturer’s warranty since the VSC typically goes into effect after the manufacturer’s warranty expires.

Who Backs The VSC?

Make sure that the company behind your plan is reputable. Some good indicators to help determine credibility include an A.M. Best rating, which demonstrates financial strength and stability, and a Better Business Bureau rating, which assesses the company’s business practices. Also, look at how long the company has been in business and examine their background.

How Are Services And Claims Handled?

Find out if the company has a network of service providers. Are they in your area and readily available to work on your vehicle? Once this has been determined, inquire about claim submission and processing. Can you submit claims online? Does the company have a reliable customer service department to assist you? And do they provide fast and convenient service to help get you back on the road as soon as possible?

Don’t Be Afraid To Ask Any Other Questions You Might Have

You should never feel pressured into purchasing coverage that you don’t understand. If there is anything about your vehicle service contract that doesn’t make sense to you, don’t hesitate to ask. Always remember, it is the salesperson’s responsibility to assist you. If you don’t feel that you are getting the help you need to make a proper purchasing decision regarding your VSC, then you probably aren’t going to get the right help should something go wrong with your vehicle.

Article Source :: https://warrantech.com/blog/december-2014/tips-for-buying-a-vehicle-service-contract/

Warrantech Announces the “Best of the Best" for 2014

Warrantech Consumer Product Services, a subsidiary of Warrantech Corporation, today announced that 11 companies are recipients of the company’s Best of the Best award. The prestigious awards were presented by Joel San Antonio, CEO of Warrantech Corporation and Sean Hicks, the Master of Ceremonies for the event.

In an academy awards-style ceremony held at the Mandalay Bay Hotel in Las Vegas, the winners were recognized for their outstanding work in service contract sales and repair service. The 2008 “Best of the Best” award recipients – listed with their category are:
Dealer of the Year - BrandsMart U.S.A.
Regional Dealer of the Year - Karl’s TV Audio Appliances Furniture
Online Dealer of the Year - Venue
Appliance Dealer of the Year - ApplianceSmart Factory Outlet
Electronics Dealer of the Year - Jetson Appliance & Electronics Experts
Electronics Servicer of the Year - DTR-Denver
Buying Group of the Year - MARTA USA
Repairmaster Distributor of the Year - Gotham Sales
Self Servicing Dealer of the Year - BrandsMart U.S.A.
Appliance Servicer of the Year - Jetson Appliance & Electronics Experts
Outstanding Partner of the Year - AmTrust Financial Group
“I am pleased to congratulate the 11 outstanding dealers and service companies that have been recognized this year,” said San Antonio. “These companies exemplify professionalism, top performance and world-class dedication to the sale of service contracts while excelling at providing service to their customers. All too often hard work goes unnoticed, and we felt the time had come to give these dealers the recognition they so richly deserve.”

The Best of the Best Awards is an annual event that measures how well companies implement plans to improve customer service through extended service contracts and warranties in a variety of consumer electronic and appliance product categories.

The 2008 Best of the Best recipients were selected from a field of over 1,000 companies. Through careful evaluation by a panel of experts from Warrantech’s senior management team, each company was chosen based on several criteria including sales increases, penetration rate by product category, customer service scores, and cost control. “While our eye-candy theme made for a light-hearted, enjoyable party, we had a serious reason for hosting this event,” noted Hicks. “These dealers and servicers deserve recognition for the creative solutions they have implemented during 2008 in order to successfully deal with an extremely challenging business climate.”

“Being named Dealer of the Year is an honor,” noted Lary Sinewitz, executive vice president of BrandsMart USA. “In the past, quantifying the effectiveness of enhancing customer service through service contracts and extended warranty programs was problematic – especially in the face of stiff competition and high performance standards. Now, Warrantech is raising the bar with an innovative new program that acknowledges the achievements of successful companies. Everyone at BrandsMart worked especially hard this past year, and we appreciate being recognized for our accomplishments.”

Robert L.Thompson, managing director and general manager of MARTA Cooperative of America said, “What a sweet way to end a tough year. Winning Warrantech’s Best of the Best Award for Buying Group of the Year helps make us redouble our efforts to continue creating new ways to serve our customers, while enhancing our bottom line. Warrantech’s Best of the Best Award is just the incentive we need going into 2009.”

The achievements and number of award winners is impressive,” said San Antonio. “We recognize and congratulate all of the Best of the Best Awards recipients for their hard work and dedication to the industry as we look forward to expanding this popular program in the coming year.”

About Warrantech:

Warrantech Corporation administers and markets service contracts and after-market warranties on automobiles, automotive components, recreational vehicles, appliances, consumer electronics, homes, computer and computer peripherals for retailers, distributors and manufacturers.  Acquired by H.I.G. Capital in 2007, the company continues to expand its domestic and global penetration, and now provides its services in the United States and Canada.For more information about Warrantech free visit here:-http://www.indeed.com/cmp/Warrantech-Corporation

AmTrust Reports Strong Profit Growth For Second Quarter 2014

This marks the fifth quarter in which the company has generated more than $1 billion in gross written premium ($1.44 billion GWP this quarter, an increase of $403 million, or 38.7%, from $1.04 billion in the second quarter of 2013). Small Commercial Business contributed 49% of total company GWP and grew by 170% from 2013 to 2014, while lowering the expense ratio by .2 points. This is quite the impressive performance from both organic and acquired growth as well as cost containment.

On a profitability basis, the company is running at a loss ratio of about 67% and an expense ratio just under 24%. Precisely, AFSI’s Q2 combined ratio was 90.9%, which is an improvement upon the Q2 2013 combined ratio of 92.1%. The majority of that profit improvement came from disciplined underwriting and associated reduction in loss ratio in both Small Commercial Business and, particularly, Specialty Risk & Extended Warranty.

Lastly, the company booked $99.5 million in service and fee income in Q2, up 13% from the same time period last year (and up 28.2% year to date 2014 vs. 2013). Most of that income was contributed by AMT Warranty/Warrantech, AMT Consumer Services, CNH Capital and Car Care Plan (overseas VSC operation).

Second Quarter 2014 Financial Highlights

Gross written premium of $1.44 billion, up 38.7%, and net earned premium of $874.9 million, up 63.1% from the second quarter 2013

Operating diluted EPS of $1.34 ($0.03 attributable to loss on life settlements) compared to $0.75 ($0.01 attributable to gain on life settlements) in the second quarter 2013

 Annualized operating return on common equity of 28.0% and annualized return on common equity of 27.8%

Service and fee income of $99.5 million, up 13.0% from the second quarter 2013

Operating earnings of $107.1 million compared to $57.4 million from the second quarter 2013
     
 Net income attributable to common stockholders of $106.3 million compared to $71.4 million in the second quarter 2013

Diluted EPS of $1.33 compared with $0.93 in the second quarter 2013

Combined ratio of 90.9% compared to 92.1% in the second quarter 201

Service and fee income of $190.5 million, up 28.2% from YTD 2013

AmTrust’s stockholders’ equity was $1.71 billion as of June 30, 2014

For more information about Warrantech free visit here:-https://www.linkedin.com/company/warrantech

Top 10 Reasons to Maintain Your Vehicle

A vehicle is one of the largest investments that most people will make, second only to buying a house. That is why it is so important for you to take care of your investment through regular maintenance. warrantech basic automotive care provides several other benefits that you might not have considered:

1. Protects your investment (on average, auto owners keep their vehicle for 10 years).

2. Provides your family with safer, more reliable means of transportation.

3. Saves you money on any unforeseen, expensive repairs.

4. Honors the commitment outlined in your OEM warranty.

5. Keeps your vehicle running smoothly and more dependably.

6. Contributes to better fuel economy.

7. Eliminates unexpected breakdowns.

8. Increases your vehicle’s resale value.

9. Reduces harmful emissions, which can endanger your family and the environment.

10. Gives you greater peace of mind, knowing that your vehicle is good to go.

For more information about Warrantech free visit here:-http://www.indeed.com/cmp/Warrantech-Corporation

Warrantech Consumer Product Services Announces 1.2 Million Customers Purchased Service Contracts in 2009

Warrantech Consumer Product Services (CPS), a subsidiary of Warrantech Corporation, today announced sales of over 1.2 million extended warranties for the calendar year ending 2009  – a 70 percent increase in contract sales compared to 2008.  Accordingly, the jump in unit sales caused gross revenue to rise 66 percent above the comparable year-end 2008 figure.  Robust increases in the sale of service contracts for appliances, and electronics, and its entry into offering extended warranties on furniture drove the positive financial results

“For most companies, 2009 was a challenging year,” said Joel San Antonio, CEO of Warrantech Corporation.  “In spite of a sagging economy, Warrantech set some aggressive goals for the year, and the CPS team redoubled their efforts, achieving phenomenal growth in sales and dealer base in 2009.  By any measure, these results set a record for this division.”

Despite an ailing economy, Warrantech added 1,800 dealers in 2009, giving the company 2,300 outlets in the United States as of Dec 31, 2009. During this period, the CPS group more than tripled the number of retailers, manufacturers, and distributers selling the company’s full line of service contract offerings.

“This year, we pulled out all the stops,” said Sean Hicks, who led the charge for Warrantech CPS.   “Our ability to execute programs with our buying group partners was a primary driver behind this growth.  Not only did we sign a record number of new retailers, but we also found innovative ways to help support our dealer base.”

During 2009, Warrantech launched “Successful Selling,” a monthly series of “how to” flyers that is distributed to all 2,300 retailers which provides these retailers tips on creative ways to market service contracts.  In addition, the company continued to roll out innovative enhancements for WCPSOnline, the company’s cutting edge internet reporting and processing system.  The latest generation of WCPSOnline gives dealers instant access to streamlined sales and claims reports, plus automated repair orders – all in real time.”

Just this year, WCPSOnline has added another new reporting feature, Dealer Loss Experience, a high-tech solution that analyzes specific dealer portfolio loss history.  This report provides valuable information to dealers enabling them to understand the key drivers that help dealers minimize problem areas and maximize long-term profitability.

“Warrantech’s ability to achieve this level of growth is a testament to the reliability of our products, the quality of our customer service and hard work of our employees,” noted San Antonio.  “At Warrantech Consumer Product Services, 2009 was a great year!”

For more information about Warrantech free visit here:-http://www.linkedin.com/company/warrantech

The Changing Face Of Extended Service Warranties

Extended service warranties were meant to be insurance contracts that retailers sold to consumers to cover repairs on products that were either not covered by the manufacturer's warranty or that went into effect after the manufacturer's warranty expired. In theory this was and is still a great idea that should have protected consumers and increased profits for retailers. In the past however, the warranty business gained a mixed reputation for leaving some consumers holding the bag. Consumers were less likely to buy warranties on electronics and retailers were losing out on all the potential profits. But that is old news. Today, consumers and retailers alike are opting in on service warranties for a variety of reasons and benefits.

Today's Warrantech service plans are an upgrade from the past and offer better services for customers — whether it is in customer service, product repairs or product replacements. Shawn DuBravac, CEA's chief economist and senior director of research says "The whole service environment has changed. It's no longer just about increasing margins, but also improving the customer experience. You want your customers to be happy and to come back," he recently told TWICE.

This expanding definition may be raising the bar on consumer expectations of their warranty coverage. Some service contracts now include such perks as 24-hour/seven days a week technical support. Consumers can tap online resources that are at once intuitive and automated and give technicians remote access for real-time troubleshooting and fixes. Plus some contracts offer protection for previously uncovered circumstances such as accidental damage and typically exempt services such as installation, says the Consumer Electronics Association (CEA).

These consumer-friendly upgrades appeal to a key CE demographic, millennial. The young consumers are dependent on their mobile devices, and those products have a greater chance of sustaining drops, spills and other accidental damage precisely because of their portability. As a consequence, millennials are more inclined than preceding generations to insure their products with repair and replacement plans. CEA research shows that these consumers are not only open to buying protection plans but want to buy them to protect their most important possession — their mobile devices.

For more information about Warrantech free vist here:http://www.slideshare.net/warrantech

Warrantech and Worldwide TechServices Partner to Provide Extended Service Contracts for Consumer Electronics Products

Warrantech Consumer Product Services, Inc. (WCPS), a leading independent provider of service contracts and after-market warranties on consumer electronic products and home appliances, announced a new agreement with Worldwide TechServices. Based in Tewksbury, Mass., Worldwide TechServices is a global leader in delivering services and solutions on a variety of electronic products.

Another first for Warrantech, this unique contract allows an independent repair company to sell extended service plans (ESPs) on products that are out of warranty.  This agreement will now enable Worldwide TechServices to sell Warrantech-backed extended service plans on out-of-warranty flat panel TVs that the company has serviced and certified to be in good working condition.  Warrantech will administer the new program, and provide a number of multi-year coverage options on all qualifying TVs.

“As the newest addition to Warrantech’s rapidly expanding list of clients, this is an exciting opportunity,” said Joel San Antonio, CEO and president of Warrantech Corporation, the parent company of WCPS.  “With more than 3,000 employees working in 50 countries, Worldwide TechServices repairs and maintains in excess of three million PC, printers, servers, satellites and LCDs each year.  Putting an independent company like Worldwide TechServices in a position to sell ESPs to a new market segment is a tremendous opportunity for Warrantech, and we are pleased to put our marketing and technological muscle behind an organization that is making such a big impact on the service industry.”

“Warrantech is an A-rated provider with an outstanding reputation, and we recognize the value that an ESP offers our customers in terms of cost savings and service,” said Wes Oldenburg, vice president sales and client management for Worldwide TechServices.  “Our service technicians make more than 9,000 service calls every day, providing customers with the highest levels of responsiveness, technical expertise and professionalism around the world.  Along with Warrantech, we’re committed to evolving our services to support the rapidly advancing consumer electronics industry, making this partnership a win-win for both us and our customers.”

“We constantly strive to create and implement specialized programs to help our clients better service their customers,” San Antonio noted.  “Our ability to get new coverage to market quickly is one of the reasons Warrantech continues to dominate the service contract industry, and the record growth of our client base proves it.  Since 2009, more than 1,800 new dealers signed and began selling Warrantech’s extended service plans,” he added.

About Warrantech:

Warrantech Corporation administers and markets service contracts and after-market warranties on automobiles, automotive components, recreational vehicles, appliances, consumer electronics, homes, computer and computer peripherals for retailers, distributors and manufacturers. The company continues to expand its domestic and global penetration, and now provides its services in the United States, Canada, Puerto Rico and Latin America.

For more information about Warrantech free vist here:https://www.facebook.com/warrantech

Ken Cranes Signs Four-Year Contract with Warrantech

Warrantech Corporation, a leading independent provider of service contracts and after-market warranties, announced that a four-year agreement has been signed with Ken Crane’s Home Entertainment, Inc. (“Ken Cranes”), a large regional electronics retailer based in the Los Angeles suburb of Hawthorne, Calif.

Family-owned and operated since 1948, Ken Cranes is known as the “big screen headquarters” on the West Coast. The service contract Warrantech developed exclusively for Ken Cranes is packed with enhanced features designed to provide full coverage for the next generation of home electronics. Following the effective date of the contract on June 1, the retailer started offering new private label service contracts to customers wanting to assure the ongoing reliability and service of expensive home theater systems and automation equipment.

“For service-oriented businesses like Ken Cranes, offering comprehensive coverage on televisions and other consumer electronics is an excellent way for specialty retailers to retain an advantage over larger ‘big box’ stores,” said Joel San Antonio, CEO and president of Warrantech Corporation. “Ken Cranes has an established reputation with a loyal client base, and Warrantech’s preferred service contracts will help increase long-term customer satisfaction by protecting expensive electronics purchases in the event of breakage or failure. In addition, the incremental revenue generated through the sale of service contracts will make a significant contribution to the retailer’s bottom line.”

“Providing quality merchandise, unmatched service at the lowest possible price is the foundation of our business,” said Casey Crane, president of Ken Cranes. “Our customers expect the best, and we deliver. Customers that purchase high-end televisions and advanced home theater systems expect them to perform reliably without the worry of expensive repairs, should a component break or malfunction. We did a lot of research before selecting Warrantech. Hands down, Warrantech provides the best service contract with the most comprehensive features in the industry. I am confident that with Warrantech, our customers are protected by the best extended service coverage in the market today.”

About Warrantech:

Warrantech Home Service Company, a division of Warrantech Consumer Product Services, Inc. started in 1990, offers one of the most comprehensive home warranty products in the United States. For more information on home warranties, refer to: www.warrantechassurance.com. Based in Bed ford, Texas, Warrantech specializes in the administration and marketing of contracts and after-market warranties on homes, automobiles, automotive components, recreational vehicles, appliances, consumer electronics, computer and computer peripherals, jewelry and furniture for retailers, distributors, internet providers and manufacturers. Acquired by H.I.G. Capital in 2007, the company continues to expand its domestic and global penetration, and now provides its services in the United States and Canada. For more information, visit www.warrantech.com.

Appliance Direct Signs Three-Year Contract with Warrantech

Warrantech Consumer Product Services, Inc. (WCPS), a leading independent provider of service contracts and after-market warranties, announced that a three-year agreement has been signed with Appliance Direct. Based in Melbourne, Fla., Appliance Direct is one of the largest independent home appliance retailers in the state of Florida.

As one of the most recent additions to Warrantech’s expanding list of clients, Appliance Direct specializes exclusively in the sales of kitchen and laundry room appliances. Developed exclusively to provide coverage for Appliance Direct customers, Warrantech’s service contract is packed with features designed to provide full coverage for the advanced generation home appliances.

Appliance Direct has begun offering private label service contracts to customers that want to insure the ongoing reliability and service of their expensive home appliances.
“Providing exemplary customer service is what differentiates successful retailers and brings more customers into the store,” said Joel San Antonio, CEO and president of Warrantech Corporation, the parent company of WCPS. “Our mission is to create programs that help dealers continue to grow their businesses by providing the highest level of service, in addition to enabling them to generate significant incremental revenue through sale of extended coverage plans.”

“Appliance Direct has built a solid reputation on providing low priced home appliances combined with the best customer service available in the Florida market,” said Sam Pak, CEO of Appliance Direct. “Our customers expect their appliances to perform reliably, and they don’t want to worry about expensive repair bills in the event of product breakage or malfunction. We believe service contract coverage enhances customer satisfaction, which results in more repeat business and increased profits through warranty sales. Warrantech’s leadership position in extended coverage administration gave us confidence knowing that our customers are protected by the best extended service coverage in the industry.”

“With more than 1,500 new dealers signing on to sell Warrantech’s extended service plans in the last 12 months, the company is enjoying tremendous success,” added San Antonio. In addition to independent dealers such as Appliance Direct, Warrantech continues to expand market penetration through key partnerships with some of the country’s largest buying groups which include Pro-Group, Nationwide Marketing Group, America’s Hometown Brand Center, Brand Source, MARTA, and ICE.


About Warrantech:

Warrantech Home Service Company, a division of Warrantech Consumer Product Services, Inc. started in 1990, offers one of the most comprehensive home warranty products in the United States. For more information on home warranties, refer to: www.warrantechassurance.com. Based in Bedford, Texas, Warrantech specializes in the administration and marketing of contracts and after-market warranties on homes, automobiles, automotive components, recreational vehicles, appliances, consumer electronics, computer and computer peripherals, jewelry and furniture for retailers, distributors, internet providers and manufacturers. Acquired by H.I.G. Capital in 2007, the company continues to expand its domestic and global penetration, and now provides its services in the United States and Canada.

Combat Weather-Related Car Trouble With A Vehicle Service Contract

This has been a winter of extremes. While a number of cities in the eastern United States set records for frigid temperatures, snow accumulation and maintenance costs, western cities like Las Vegas and Tucson reported their warmest winters on record. The effects have been immediately noticeable to anyone who has had to endure the elements. But what might not be as apparent is the effect that these excessive record-setting temperatures can have on your vehicle.

“When consumers buy a new car, they may not be thinking about how weather extremes can affect the life of crucial car parts,” said Tim Meenan, executive director of the Service Contract Industry Council (SCIC). “No one can do anything to control the weather or its impact on vehicles, but extended warranties can make a tremendous difference in getting past those problems. They’re the best protection for your wallet when extreme weather causes damage that requires a trip to the repair shop.”

Warrantech can also provide you with added peace of mind in case you find yourself stranded in a remote area during a snowstorm or heat wave. Plus, it allows you to protect your investment, increase your car’s value and make upfront payments that fit within your budget so you can avoid having to pay for any large or unexpected repairs in the future.

The SCIC points out that the winter and summer seasons are the busiest times of year for car repair shops. Salt, sand, UV rays and ice are just a few of the culprits that can lead to rusting, corrosion and expensive repairs to core components.

Brian Hafer, vice president of marketing for AutoMD.com, adds that extreme temperatures are a car killer, which makes regular maintenance all the more important. “Not following the maintenance schedule in the owner’s manual is very common,” says Hafer. “People have these repair issues because they didn't consult their owner's manual. Typically, it happens more often with younger drivers because they just aren't aware.”

What You Can Do About It

Besides having a reliable vehicle service contract and establishing a routine maintenance schedule, here are a few simple tips to help extend the life of your vehicle and save you money in the long run.

  Check your antifreeze.  Not having fresh coolant can cause your water pump to freeze during the winter and overheat your engine in the summer.

 Examine all fluid levels.  Oil, transmission, brake and power steering fluids can all thicken in cold weather, while excessive heat can cause fluid loss.

  Make sure your battery is fully charged.  Batteries get stressed in extreme temperatures. If yours is more than three years old, consider replacing it.

Consider an engine block heater for the winter months.  At the very least, always warm up your car engine before driving to allow oil to circulate properly.

Keep the gas tank half full.  This will help you avoid frozen gas lines.

Inspect your tires.  Cold weather can cause tires to lose several pounds of air pressure and searing heat can lead to cracking.

 Clean the windshield before using your wipers.  Ice can tear wiper blades and restrict motion, which can also tear up the wiper motor and pop the arm.

Keep extra fluids in your car.  Extra coolant and windshield washer fluid are always good to have on hand in case of an emergency.

Peace of Mind: the Ultimate Add-On

Sean Stapleton, president & CEO of Warrantech, recently spoke with Dealerscope magazine about the importance of extended service plan programs for retailers. The following is an excerpt, providing a brief glimpse of what the company has in store for 2014 to help businesses increase their extended service plan offerings and give customers the most value for their money and a worry-free shopping experience.

Warrantech Corporation works closely with its retail partners, field training teams and consumer focus groups to develop innovative programs designed to drive extended service plan sales. Through this collaborative effort, new program offerings are developed and tested. Once beta testing has been completed, successful programs are rolled out to Warrantech partners.

Based on recent beta-testing results, Warrantech is making available to its partners a number of dynamic offerings designed to increase both partner revenue and customer retention. One such offering is Warrantech’s Verify & Protect program, which is a real-time missed point-of-sale extended service plan program for online retailers. This program utilizes multichannel marketing solutions to offer customers who have not purchased an extended service plan as part of their product purchase an additional opportunity to do so on a real-time basis. Additionally, the program is designed to create a white-glove experience for customers by providing them with real-time purchase detail and shipping confirmations on their recent purchases.

Warrantech Signs New Contract with Queen City Audio Video Appliances

Warrantech Consumer Product Services, Inc. (WCPS), a leading independent provider of service contracts and after-market warranties on consumer electronic products and home appliances, announced that the signing of a new agreement with Queen City Audio•Video•Appliances (Queen City). Based in Charlotte, N.C., Queen City currently has 13 stores strategically located throughout North and South Carolina, and is recognized as the largest independent dealer of televisions, video equipment and home appliances in the region.

As the newest addition to Warrantech’s rapidly expanding list of clients, Queen City specializes in selling the finest lines and latest technology in televisions, appliances and home theater systems. The agreement with Warrantech, effective Nov. 1, gives Queen City customers access to private label service contracts that are packed with features designed to provide full coverage to individuals that want to insure the ongoing reliability of next generation home appliances and audio visual equipment.

“We create programs that help dealers grow their businesses by providing a higher level of service to their customers,” said Joel San Antonio, CEO and president of Warrantech Corporation, the parent company of WCPS. “Providing name-brand products at competitive prices, coupled with good service is what brings customers into the store. At Warrantech, our programs are designed to keep products serviced and in good operating condition, while helping our clients generate significant incremental revenue through the sale of extended coverage plans.”

“The most important product we offer is service,” said Roddey Player, CEO of Queen City Audio•Video•Appliances. “We are committed to providing unsurpassed service for our customers, so when it came to warranty coverage, we turned to a recognized leader – Warrantech. With more than two decades of experience and thousands of satisfied customers, we know Queen City patrons can count on Warrantech to provide the best extended service coverage in the industry.”

“During the past 12 months, more than 1,500 new dealers have signed on to sell Warrantech’s extended service plans,” added San Antonio. “In addition to independent dealers such as Queen City, Warrantech continues to expand market penetration through key partnerships with some of the country’s largest buying groups which include Pro-Group, Nationwide Marketing Group, America’s Hometown Brand Center, Brand Source, MARTA, and ICE.”

About Warrantech:
Warrantech Home Service Company, a division of Warrantech Consumer Product Services, Inc. started in 1990, offers one of the most comprehensive home warranty products in the United States. For more information on home warranties, refer to: www.warrantechassurance.com. Based in Bedford, Texas, Warrantech specializes in the administration and marketing of contracts and after-market warranties on homes, automobiles, automotive components, recreational vehicles, appliances, consumer electronics, computer and computer peripherals, jewelry and furniture for retailers, distributors, internet providers and manufacturers. Acquired by H.I.G. Capital in 2007, the company continues to expand its domestic and global penetration, and now provides its services in the United States and Canada. For more information, visit www.warrantech.com.

Warrantech Adds Development and Training Program to its Automotive Sector Offerings

BEDFORD, Texas (Feb. 5, 2011) – Warrantech Corporation (Warrantech) today announced a new service capability from its automotive sector, as well as the addition of two sales and business development executives to the organization.

Warrantech’s new service offering, a unique training and development program, is geared toward automotive, powersports, and recreational vehicle dealers to help diagnose and cure profit leaks in dealerships. Utilizing in-depth evaluations of a dealership, programs are custom-tailored to drive sales and profits to new levels.

“We’re bridging the gap between the classroom and showroom with this new service offering,” said Dominic Sansone, president, automotive sector, Warrantech. “We become an effective consultative resource for dealerships by designing custom programs utilizing the latest technology that not only help improve their profitability, but generate enthusiasm, positive attitudes and an overall commitment to excellence among the sales , finance and service staffs.”

R. Michael Burgholzer, Warrantech’s new senior vice president, dealer development, is managing the dealer training and development program. Burgholzer brings more than 20 years of experience in leadership positions within the automotive industry.

“We’re excited and fortunate to add a talent like Mike to the Warrantech organization. His experience and expertise will allow us to focus on developing a successful program that addresses a growth area within the automotive industry,” Sansone said.

Warrantech also added Chris Murphy as executive vice president of sales for its automotive sector, reporting to Sansone. Murphy is a 23-year veteran of the automotive industry with a primary focus on developing sales and market strategy for automotive products in the general agent and dealer markets.


About Warrantech

Warrantech Corporation administers and markets service contracts and after-market warranties on automobiles, automotive components, recreational vehicles, appliances, consumer electronics, computers and computer peripherals for retailers, distributors and manufacturers. Warrantech is a subsidiary of AmTrust Financial Services, Inc., a multinational property and casualty insurance holding company specializing in coverage for small businesses and extended warranties, with the AmTrust Group of insurance carriers rated “A” (Excellent), Financial Size IX by A.M. Best Company.