A: A VRC or Extended Warranty is designed to replicate the benefits a customer enjoys from a vehicle manufacturer warranty when she/he purchases a brand new vehicle. A VRC enables owners of used vehicles to protect their vehicles from unexpected high repair costs.
A: Every car eventually breaks down and modern cars are more complicated to repair due to the increased use of advanced electronics. This means that a mechanical breakdown or a relatively minor defect can cost a fortune. Buying a VRC protects the investment you made in your car and ensures you get the highest quality repairs, thereby extending the life of your vehicle.
A: We generally cover most passenger cars. We do not cover high performance sports cars or vehicles that have been customized differently from the manufacturer’s original specification. We cover both new and used cars, including those that are currently in use by the customer.
A: The total number of components (major components and sub components) covered range from about 200 to over 700, depending on the product bundle purchased. Covered items include: Engine components - pistons, crankshaft, valves, etc.; Electrical components and motors - alternator, starter, window motor, wiper motor, etc.; Transmission components; Suspension - shock absorbers, struts, etc.; Steering components - tie rod, steering pump, etc.; A/C components - condenser, compressor, etc.; Hi-tech components - brain box, sensors, etc.; Engine cooling - radiator, water pump, etc.; Drive axle - CV shaft, propeller shaft, etc.; Brake – ABS booster, brake calipers, etc.; Fuel delivery - injector, pump, etc.
A: We will aim to provide decision on claims within a few hours of when the request is made. Depending on the additional verification or diagnostics that may occur, the claim decision can take a bit longer. We expect claim decisions to be made within 1 to 8 working hours.
A: A VRC does not cover the following:
- Repairs arising from accidents. These types of repairs are covered under a vehicle insurance policy provided by an insurance company
- Body and structural repairs to the vehicle - car seats, dashboard, body panels (interior and exterior) etc.
Limitations: Due to tough driving conditions in Nigeria, the following items are limited to one replacement every 24 months – suspension, steering and axle components. The total value of claims that can be made during a coverage period is capped at a multiple (typically 20x of price paid for the VRC).
A: Price payable varies based on vehicle make/model/year, mileage and the product bundle purchased. You can obtain real-time quotes on our website or the websites of the insurance companies we work with.
A: We are currently working with a consumer lending company to provide seamless financing of payments. Approval is immediate and you can still complete your purchase in a few minutes on our website. A 12-month VRC can be paid in 4 equal monthly installments while a 24-month VRC can be paid in 6 equal monthly installments. Please note that a flexible payment option attracts a fee.
A: We offer refunds of contracts cancelled within 20 days of purchase. Beyond 20 days, there is a no cancellation except in the event a car is lost to fire or theft. We will require appropriate proof of such unfortunate events.
A: We offer both 12-month and 24-month contracts. Coverage starts at the end of the 30-day wait period and 600 km driven.
A: Coverage under the VRC commences only after a 30-day wait period plus 600 kilometers driven from the date of purchase. The wait period is required to ensure that the vehicles we cover do not already have problems at the time coverage is purchased. This helps us keep the prices of our VRCs affordable for all customers.
A: Our VRCs are ultimately backed by reputable insurance companies in Nigeria. We are currently partnering with Cornerstone Insurance Plc in this regard. This ensures that we are always able to deliver on our obligations under the VRCs we sell.
A: We use high quality replacement parts manufactured by reputable manufacturers. The parts we use are of the same standard as those authorized for sale in the United States and Western Europe and we provide a 6-month/6,000 kilometer warranty on the replacement parts. We work with a diverse network of certified and highly skilled mechanics for repairs. We also provide a warranty on repairs performed by our mechanics.
A: We work with a broad spectrum of mechanics in strategic locations to ensure there is a mechanic within a reasonable distance to the customer at all times. Our mechanics range from high-end repair shops affiliated with dealerships to highly skilled standalone shops with the requisite expertise that will match the customer’s unique needs. We maintain Service Level Agreements (SLAs) with the repair shops to ensure a certain level of service and provide warranty on the work.
A: We plan to provide coverage across as many cities as possible within Nigeria. At this time, our coverage zone is within Lagos only. This means that if a covered problem occurs outside Lagos, the customers will be required to get the vehicle to Lagos at his/her own cost before we can proceed to fulfill the claim.