AMT Acquires Remainder of Warrantech

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AMT Warranty Corp. announced last week that it has purchased the remaining 73 percent of Warrantech Corp., bringing its interest in the company to 100 percent.

AMT is a subsidiary of AmTrust Financial Services, Inc.

“We are excited about the additional revenue opportunities and diversification that the Warrantech transaction provides,” AmTrust Financial Services, Inc. President and CEO Barry Zyskind said as part of the announcement. “By bringing together these two robust warranty administration platforms, we expect to significantly increase our fee income and benefit from enhanced scale and technology efficiencies while further strengthening AmTrust’s market presence and premium opportunities in the warranty space.

For more consumer tips and information regarding extended warranties and vehicle service contracts, be sure to visit: https://about.me/amtservicecorp

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“Everything Must Go” — Including Warranties?

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Losing a favorite place to buy a book, procure the latest electronic gadget or update the home can send passionate shoppers into an emotional spiral much like the stages of grief.

Denial sets in first. “They can’t go out of business; they are always so helpful and sell only the best products.”

Soon after comes the inevitable anger stage. “Great, they went out of business. Now my extended service plan (ESP)* won’t be any good. How could they do this to me?”

*NOTE: While many store associates and consumers consider the purchase to be an extended warranty, this is often not the case. Many extended plans are not truly adding on to the original manufacturer’s warranty, but rather, extend the post-warranty service options and are therefore more appropriately referred to as an extended service plan, or ESP.

Retailer bankruptcies have been an unfortunate reality, as almost 3,000 stores in the U.S. closed, were downsized or went out of business in the 2013 calendar year. While many analysts believe that the worst is now over, many consumers are still left wondering what will happen to their ESPs. The truth is there are a number of ways it can go.

In a worst case scenario, extended service contracts are voided when the company files for bankruptcy. This is often the case if the retailer underwrites its own ESPs. On a positive note, manufacturers’ warranties are in no way affected when a retailer closes. So, some repairs and replacements might still be covered.

In a better scenario, the retailer outsourced its warranty underwriting to a reputable third party.

“The end of a retailer doesn’t necessarily mean the end of the extended service plan,” said Sean Stapleton, CEO of Warrantech. “Responsible companies have safeguards in place, such as third-party contract underwriters, that protect their customers, even after bankruptcy.”

So, the first step is to read the service contract papers if a store closes. Chances are that the ESP isn’t actually owned by the retailer, so there’s no reason to panic. But, rather than waiting until the unthinkable happens, Stapleton advises to read the service contract before it’s purchased to avoid potential problems down the road.

“Check the fine print for a third-party provider and consider the reputation of the company,” Stapleton said. “Look for an address to write to or a phone number you can call if there are issues.”

Consumers are spending more on electronics and other big-ticket items than ever before, so ESPs are becoming increasingly important — as long as they will be there when they are needed. On its consumer protection website, the Federal Trade Commission urges shoppers to read warranty and ESP paperwork and look for answers to the following questions:

– How long does the warranty and ESP last?

– Who do I contact to get warranty and ESP service?

– What will the company do if the product fails?

– What parts and repair problems are covered?

– Are there any conditions or limitations on the warranty or ESP?

By asking these questions upfront and ensuring that their ESPs are backed by a reputable third party, shoppers can gain peace of mind that their purchases will be covered — even if a favorite retailer permanently closes.

For more consumer tips and information regarding extended warranties and vehicle service contracts, be sure to visit: https://vimeo.com/amtwarrantycorp

AMT Warranty Corp Wins Gold at the 2015 Stevie Awards for Sales & Customer Service

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Warrantech was presented with a Gold Stevie® Award for Innovation in Sales during the ninth annual Stevie Awards for Sales & Customer Service. The awards were presented to honorees during a gala banquet on Friday, February 28, at the Bellagio in Las Vegas. More than 500 executives from the U.S.A. and several other nations attended.

The Stevie Awards for Sales & Customer Service are the world’s top sales awards, business development awards, contact center awards, and customer service awards. The Stevie Awards organizes several of the world’s leading business awards shows including the prestigious American Business AwardsSM and International Business AwardsSM.

More than 1,900 nominations from organizations of all sizes and in virtually every industry were evaluated in this year’s competition, an increase of 27% over 2014. Finalists were determined by the average scores of 139 professional’s worldwide, acting as preliminary judges. Entries were considered in 54 categories for customer service and contact center achievements, including Contact Center of the Year, Award for Innovation in Customer Service, and Customer Service Department of the Year; 50 categories for sales and business development achievements, ranging from Senior Sales Executive of the Year to Business Development Achievement of the Year; and categories to recognize new products and services and solution providers. The Business Development categories are new for 2015.

More than 100 members of several specialized judging committees determined the Gold, Silver and Bronze Stevie Award placements from among the Finalists during final judging earlier this month.

Warrantech was recognized for its Connected Protection program, which provides repair and replacement benefits for mobile devices utilized in a connected vehicle should such devices malfunction. Available through automobile dealers, the protection plan can be added to the vehicle financing, thereby costing pennies per day for extensive coverage. Enhancing Warrantech’s product portfolio, the new offering also provides important benefits to connected vehicle owners and much-needed additional revenue sources for auto dealers.

“Entries to the Stevie Awards for Sales & Customer Service awards have more than doubled over the past three years,” said Michael Gallagher, president and founder of the Stevie Awards. “The widespread support of this program illustrates the importance of the functions it recognizes to business success. This year’s Stevie Award winners are the highest rated in the history of the awards, and we congratulate all of the winners on their commitment to excellence and innovation.”

Warrantech 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 ESPs are underwritten by sister company AmTrust Group insurance carriers, rated “A” (Excellent) by A.M. Best Company for their financial strength and stability.

For more consumer tips and information regarding extended warranties and vehicle service contracts, be sure to visit: http://www.onlineprnews.com/news/398475-1373521737-amt-warranty-corp-extendedwarranty-enhancing-programs-and-support-services.html

Filed Under: automobile, Awards, Connected, coverage, customer, dealers, Gold, innovation, Protection, sales, service,Stevie, Warrantech

Introducing Campers Edge, Protection for Motor homes

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AMT Warranty Corp is proud to now offer dealers and customers alike the finest overall RV program in the industry — Camper sedge. As industry leaders since 1983, AMT Warranty Corp developed Camper sedge to strike the perfect balance between providing comprehensive coverage choices while keeping it simple to use.

Only Campers edge offers the flexibility to choose the coverage plan, length of coverage, number of miles covered and deductible to fit the way you drive and the budget you live with. Whether you drive 5,000 or 50,000 miles a year, AMT Warranty Corp has made it easy to pick the coverage that’s right for you:

Two Simplified Coverage Levels

  • Preferred

– Comprehensive stated component coverage

  • Ultimate

– Exclusionary coverage

  • Coverage available for motor homes, travel trailers, fifth wheels, pop-ups and slide-ins
  • Fewer add-on or surcharged items than found in competitive programs
  • New plan terms up to 7 years
  • Used plan terms up to 4 years
  • Coverage available for units up to current plus 15 model years old

Features and Benefits for Customers

  • Multiple time and mileage terms
  • 24/7 roadside assistance
  • Coverage that meets your needs and fits within your budget
  • Motor home coverage available for:

– Units with up to 100,000 miles

– Units up to $500,000

  • Unparalleled customer service
  • Deductibles: 50, 100, 200 and 100 disappearing

Features and Benefits for Dealers

  • Offers your customers the best coverage available
  • Simplified, transparent reinsurance opportunities with no hidden fees
  • Ability to transact business online through Warrantech’s “VSCOnline” Platform
  • 30 minutes or less claims payment
  • Offers significant income opportunities from a strong, stable company that treats your business with respect

For more consumer tips and information regarding extended warranties and vehicle service contracts, be sure to visit: http://amt-warranty.blogspot.in/

Filed Under: Camper sedge, coverage, fifth, motor homes, pop-ups, slide-ins, trailers, travel, Warrantech, wheel

AmTrust EPLI product: low-cost and absolutely vital—it’s a win-win

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Employment-related claims are a serious risk to any business. To lessen that risk, AmTrust offers Employment Practices Liability Insurance (EPLI) coverage—a comprehensive, low-cost product that is necessary to protect small businesses from employment practices liability exposure, especially in today’s lawsuit-happy world.

Our EPLI product provides free risk management services that were previously available only to larger companies. In addition, our EPLI product provides the insured with coordination of defense counsel, rather than selecting their own, which has shown to reduce costs by more than 35%.

Types of Coverage

The AmTrust EPLI product provides coverage for all employees including full-time, part-time, seasonal, temporary, volunteers and dedicated independent contractors and includes both Standard and Enhanced coverage options. The enhanced version covers inappropriate third party conduct and punitive damages.

EPLI-related Insured Events include:

Discrimination

Sexual harassment

Wrongful termination/demotion/discipline

Failure to hire/promote/fire/demote

Wrongful infliction of emotional distress

False imprisonment/detention, malicious prosecution

Libel, slander, defamation of character

Invasion of privacy

The website, http://www.amtrustworkplace.com, provides the following resources:

Online training to prevent sexual harassment—that meets stringent requirements in several states

Online training for following proper procedures of employee terminations

Online training to prevent employee discrimination

Information on compliance with wage and hour laws

Customizable employment policies and procedures, available in English and Spanish

Example employee handbooks

Human resources policies

FAQs

EPLI is straightforward, low cost, and is easy to add

The AmTrust EPLI product has every advantage and no downside. EPLI can be automatically added to class-qualified policies; it has straightforward underwriting rules; and it is low cost.

Additionally, our EPLI product also provides personal contact within 24-48 hours of all claims submitted; and, includes a risk management website for both agents and insured’s.

For additional information on EPLI coverage, please contact your Regional Sales Manager.

For more consumer tips and information regarding extended warranties and vehicle service amtservicecorpcontracts, be sure to visit: https://www.facebook.com/amtservicecorp

Extended Service Plans: More Value, Less Uncertainty

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Everyone understands the importance of savings. We’ve been taught from an early age that the sooner you start saving, the better off you’ll be later down the road. Setting aside funds can increase your purchasing power when buying a home, prepare you for retirement at an earlier age and cover your expenses should you need emergency funds — all smart investments toward getting ahead and staying ahead.

However, a recent nationwide survey by Hart Research Associates shows that 48 percent of Americans say that they do not have the savings they need to achieve financial stability. In today’s economy, it is especially challenging to set aside rainy day funds for those unexpected moments that can drain your bank account and set you back even further. That is why it is in your best interest to consider an extended service plan (ESP).

Designed to help customers manage the cost and inconveniences of product failures, an ESP can be purchased for just a fraction of what you would normally pay for service repair. In some cases, the savings can add up to hundreds of dollars and even mean the difference between paying just a little extra cash as opposed to purchasing an entirely new product. Plus, there are several other advantages to consider with an ESP.

  1. Today’s plans and service programs are more affordable than ever before
  2. You’ll have added peace of mind knowing that your purchases will be fixed or replaced if something goes wrong
  3. If you are having trouble with a product, you’ll have immediate access to a qualified service professional who can diagnose the problem, saving you time and money
  4. A Warrantech ESP can readily be customized to fit your wants and needs

Above all, an ESP can protect you from incurring deeper debt and help save you money in the long run. This in turn can free up your finances so that you are able to accumulate greater wealth and maintain a respectable savings. And as most financial-savvy individuals view their major purchases as an investment worth protecting, an extended service plan should be considered a smart addition to your savings account.

For more consumer tips and information regarding extended warranties and vehicle service contracts, be sure to visit: https://www.facebook.com/amtservicecorp

Filed Under: Extended, plans, service, Warrantech

Get Ready. Fall Car Care Month Is Here

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October is Fall Car Care Month. The milder temperatures make this the perfect time of year to get out and make sure your car is road ready. After all, you don’t want to wait until a blustery winter sets in, do you?

Even more important to consider, AAA regularly anticipates coming to the aid of more than one million stranded motorists during the year-end holiday season. This can really put a damper on your holiday spirit when you consider that most of these emergencies are highly preventable. Some of the more common problems involve:

  1. Dead or corrosive batteries
  2. Tires with excessive wear
  3. Damaged brake systems that isn’t equipped to deal with wet and icy road conditions
  4. Limited visions due to worn wiper blades, low windshield washer fluid and defrosters that aren’t working properly

Alarmingly, a recent report by the Car Care Council shows that three out of four cars, roughly 77 percent, are currently in some need of service or repair. As you can see from the accompanying info graphic, engine oil is the top culprit when it comes to vehicle trouble, followed closely by engine coolant. Brake, steering, and transmission fluids are also important to the performance or your automobile and should be checked regularly.

Eventually, of course, all cars require routine maintenance and service. A vehicle service contract (VSC) is a great way to plan for this inevitability and could save you time and money. In fact, a VSC can provide you with several value-added extras such as discounts on oil changes, towing, rental cars, locksmiths, roadside assistance and hotels in the event that something does go wrong. Plus, you’ll have 24-hour technical assistance and access to qualified service professionals.

If you still have questions about what to look for on your vehicle, the Car Care Council offers a free 60-page guide on their website which covers major car components and service recommendations. Plus, while you are at their site, you can set up service schedules, get DIY tips, use an online diagnostics tool to identify any car problems, locate a mechanic and much more. That way you are always prepared for what’s down the road and your vehicle is good to go year-round.

For more consumer tips and information regarding extended warranties and vehicle service contracts, be sure to visit: https://sites.google.com/site/amtwarranty/amt-warranty-provide-you-with-the-extended-service-plans

Filed Under: AAA, Car, Care, contract, Council, service, Vehicle