Markets/Coverages: QBE Automotive Protection Partners With Repair Ventures

QBE Automotive Protection, in partnership with Repair Ventures, has launched a new product for original equipment manufacturers (OEMs) to provide customers with enhanced vehicle protection in the event of a total loss.

Vehicle replacement insurance offers drivers a brand-new equivalent vehicle following a total loss – regardless of the age or market value of the original car. The product is available following the purchase of a brand-new vehicle.

When a vehicle is written off, standard auto insurance typically pays out the current market value of the car — not what the owner originally paid for it.

Repair Ventures, a provider of marketing technology and services for the extended vehicle protection industry, is the exclusive distributor of QBE’s new Vehicle Replacement Insurance (VRI).

Key features include:

• Covers the difference between auto insurance payouts and the cost of a new vehicle
• Protects against immediate and long-term depreciation
• Offsets rising vehicle prices
• Optional benefit that reimburses a customer’s auto insurance deductible up to $1,000 annually
• Flexible Terms each with Fixed Monthly Premiums.
• Digital Purchase

SOURCE: QBE, Repair Ventures