ATLANTA — Assurant’s Resource Automotive business has launched a monthly subscription option for its Mechanic 2.0 vehicle service contract, the company announced. Consumers can pay on a month-by-month basis for protection and can stop coverage at any time.
“A monthly subscription provides a more attractive and relevant protection option, especially for car buyers interested in subscription-based vehicle programs,” said Ash Bauer, senior vice president of Assurant Resource Automotive. “It also offers a post-sale opportunity for dealers and lenders with consumers that did not purchase a contract at the time of sale, complementing their traditional longer-term VSC programs and offering new aftermarket opportunities.”
The monthly VSC offers many of the coverage options of Mechanic 2.0 with added protection for wear items such as belts, hoses, brake pads, and headlight bulbs for vehicles still under factory warranty. It also gives dealers the ability to offer coverage on multiple brands as well as hybrid and electric vehicle components, and Assurant utilizes the most current pricing and loss ratio data available to generate optimal risk-based quotes for short-term coverages, all according to the announcement.
“We’re working creatively to provide more coverage options for consumers and greater flexibility for dealers to adapt to changes in the vehicle market,” Bauer said. “Monthly subscriptions are another example of how Assurant is monitoring the changing landscape and creating products that help our clients adapt to emerging trends in our industry.”