Personal Safeguards Group, LLC has recently completed a consumer survey related to Vehicle Service Contracts and other ancillary service contract products.
A few points of interest from the survey include:
Over 43% of consumers purchasing a new or used vehicle at a dealer included at least one service contract product (VSC, GAP, Tire & Wheel, Appearance Protection, PrePaid Maintenance). Over 38% specifically purchased a Vehicle Service Contract.
Over 89% of Vehicle Service Contracts were purchased from the dealer. Just over 10% were purchased from a bank, credit union or via on-line / telemarketing.
On-line / telemarketing purchases are now estimated at over $550,000,000 of the $15,000,000,000 in Vehicle Service Contract gross sales.
Over 58% of the consumers surveyed indicated a positive likelihood of purchasing a VSC in the future.
More information from this survey will be released in January 2015.
Personal Safeguards Group, LLC (PSG) is a warranty and specialty insurance consulting and brokerage firm serving the automotive, appliance & technology, affinity and financial services industries.
PSG works with industry leading and highly rated Insurance Carriers, Service Contract Providers, Obligors, Administrators, Marketers and Services Partners to develop unique solutions for its clients.
For more information visit: http://personalsafeguardsgroup.com