CARMEL, Ind. — Preferred Warranties Inc. (div. KAR Auction Services) announced the addition of rideshare coverage to its vehicle service contract offerings. The news coincides with the announcement of a new underwriting partnership with Assurant.
“Expanding into the mobility space is a strategic priority for KAR Global, and PWI’s new rideshare coverage helps solidify our investment in this growing market space,” said Edmund Field, president of PWI. “Now backed by Assurant, our enhanced protection plans give dealers more reasons to choose PWI for vehicle service contracts that provide confidence and peace of mind to consumers and a critical revenue stream to dealers.”
“The ridesharing economy relies heavily on well-maintained vehicles and drivers who have the resources they need to keep their cars on the roads.”
Rideshare coverage is available on all products except Preferred Truck or Powersports. PWI has added various term and coverage enhancements to its Plus Plan, Premier Plan, Preferred Truck Plan and Base Plan vehicle service contracts, all according to the announcement.
“The ridesharing economy relies heavily on well-maintained vehicles and drivers who have the resources they need to keep their cars on the roads,” said Rich Howse, senior vice president of mobility solutions for KAR Global. “We are making investments across the enterprise at KAR Global to support the changing nature of car ownership and use — creating the tools and solutions for the evolving mobility landscape.”