Extended warranties will help with a tight family budget

Unexpected expenses, especially during the coronavirus crisis, can hit the family budget hard. According to a survey by the Czech Banking Association (CBA), every third Czech household has lost one or part of their income and 4% of households even lost all incomes. In such situations, extended warranties can be more than helpful.

According to the CBA, 24% of Czechs admitted insufficient or no financial reserves at the beginning of a spring wave of a pandemic. Unexpected expense, for example in the form of a broken-down car, could be very inconvenient for them, especially if they need the car for their work or they commute to work with it.

According to experts, we should have, for situations such as a loss of income, set aside at least six times of the monthly expenditure of the whole household. Reserves of this amount gives people room to act without stress and avoid hasty steps. However, not every household manages to have such a reserve. In the case of sudden repairs to cars extended warranties from DEFEND INSURANCE GROUP can be very useful. Customers therefore will not have to use unpleasant solutions such as a consumer loan or a loan from family and friends.

Invaluable peace of mind

Extended warranties from DEFEND Car Protect cover sudden failures of internal mechanical, electrical or electronic components of vehicles. It offers six programmes with high variability, thanks to which it is possible to tailor them. You can choose the insurance period, limits of insurance benefits, mileage limit per year and coinsurance. The added value for car owners and also their dealers is high, especially in the times of crisis, when people think more about their finances and plan their expenses more carefully.

’’The importance of our products for customers is also confirmed by the sellers themselves, who are in daily contact with clients. As our recent survey showed, 80% of dealers have confirmed to us, that protection against sudden expenses is an important criterium when buying a vehicle. Our extended warranties, at the same time, brings advantages also to their sellers and help them to cover revenue shortfall caused by declining car sales during this difficult time,’’ says Andrew Quirke, Managing Director of DEFEND INSURANCE GROUP.

The benefits of extended warranties for both customers and dealers are obvious. They increase mutual loyalty and trust between both groups and bring welcomed peace of mind, which is invaluable in the time of crisis. Therefore, if you are interested in extended warranties, do not hesitate to contact us at any time.