Warrantech Selects TitleGuard to Provide Insured Vehicle Title History
Warrantech’s New Service Contract Protects Consumers Against the Unknown Future While Insuring Them Against a Vehicle’s Hidden DMV Past
January 22, 2004, POWAY, Calif.
Vehicle Title LLC announced that its flagship product, TitleGuard Vehicle Title Insurance, has been selected by Warrantech Corporation to provide insured vehicle title history information as an added consumer benefit for its new Independence Used Vehicle Service Contract program. In addition to offering the industry’s most comprehensive and reliable protection against mechanical problems, each Independence Service Contract will also come with TitleGuard’s $50,000 insurance protection against unreported Department of Motor Vehicles (DMV) brands, title defects and evidence of odometer rollback.
“We are very excited to be part of Warrantech’s new Independence program,” said Tom Rubadue, president of Vehicle Title LLC, sole provider of TitleGuard Vehicle Title Insurance. “By including TitleGuard with the Independence Service Contract, Warrantech will become the first service contract and after-market warranty provider to offer used car buyers a true cocoon of safety; protection against future mechanical problems and 100 percent insurance against hidden DMV title defects from the past. We believe that the Independence Service Contract is the industry’s most comprehensive warranty program.”
Warrantech’s new Independence Used Car Service Contract was designed to offer used car buyers the broadest service contract available today. It protects the consumer against mechanical problems and includes a full array of benefits including TitleGuard, road club services and vehicle rental, all at an affordable price.
Unlike any other vehicle service contract, Independence comes with TitleGuard’s two-part insurance policy. Part one provides a vehicle’s complete DMV title history by scanning the world’s largest relational vehicle database for evidence of salvage brands, lemon brands, hail/flood brands, odometer rollback, etc. Once it is determined that a vehicle has a “clean DMV title history,” TitleGuard insures the accuracy of this information for up to $50,000.
“By including TitleGuard in the Independence Service Contract, we have added a unique and valuable consumer feature and also found a way to limit potential claims and losses,” said Chris Ford, president of Warrantech Automotive. “Since TitleGuard documents a vehicle’s title history before we issue a warranty on a vehicle, we are able to identify problem vehicles up-front and prevent warranties from being issued on them.”
“TitleGuard also insures Warrantech and consumers against DMV delays and mistakes,” said Rubadue. “If Warrantech issues a warranty on a vehicle that initially came back with a clean title history and later learns that it was ineligible due to a title defect that was previously unreported by the DMV, Warrantech can immediately notify the dealer, allowing him to avoid all problems related to the vehicle. In such a situation, TitleGuard will pay the customer’s actual losses up to $50,000. No other product offers this kind of protection.”
The Independence Service Contract Program is scheduled to launch in March 2004. Additional information on Independence is available by calling (800) 723-1154, or by visiting www.warrantech.com. For more information about TitleGuard Vehicle Title Insurance, please call (866) 819-3100 or visit www.AutoTitleGuard.com.
About Vehicle Title LLC
Vehicle Title LLC is a joint venture between The First American Corporation, a Fortune 500 company and innovative leader in the title insurance industry that traces its history to 1889; and Experian Automotive, the automotive industry’s premier information and vehicle history data supplier. By combining the strengths and expertise of these two companies, Vehicle Title LLC maximizes its efficiencies to deliver TitleGuard Vehicle Title Insurance to the used car buying and selling public. TitleGuard is the first and only product that insures used car buyers, sellers and lenders against the actual losses that can result from unreported DMV title defects for up to 100 percent of the vehicle’s fair market retail value, to $50,000. For more information on The First American Corporation, Experian Automotive or TitleGuard, please visit www.firstam.com, ww.automotive.experian.com or www.AutoTitleGuard.com respectively.
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 additional information on Warrantech, accesswww.warrantech.com.