RAC Warranty expands Scratch and Dent Insurance
RAC Warranty has responded to an aging UK car parc by expanding its cosmetic product, RAC Scratch and Dent Insurance.
The enhanced offering now protects larger areas of damage, and includes more panels, windscreen and glass. It also offers an excess contribution of £250 if a customer decides to claim through their motor insurance.
The expanded cover has been introduced as the UK car parc ages and demand for cosmetic insurance to maintain older vehicles has increased.
The average age of a car in the UK is now 9.7 years, according to the Society of Motor Manufacturers and Traders, while 45% of all cars on British roads are more than 10 years old.
Lee Coomber, RAC client director at Assurant, RAC partner in the aftersales market, said: “It’s been a key post-pandemic trend in the used car sector that ongoing stock shortages have meant many motorists are paying more for older vehicles.
“Dealers have responded by investing in preparing vehicles to a high retail standard and we find buyers are increasingly keen on ensuring they stay in that condition. If they’re driving an older car, they want it to still look good.
“As a result, cosmetic insurance products have been seeing higher levels of interest and, while our existing offering has been successful, we believe there is potential to meet the needs of a greater number of consumers through a more comprehensive insurance offering.
“Our enhanced product offers improved customer value and cover, greater claims acceptance, stronger alignment between contribution levels and repair costs, and repair flexibility where a SMART repair isn’t possible.”
