Provident adds new insurance

Following the launch of their new motor vehicle insurance to dealers in April last year, Provident has now extended their offering by launching a motor vehicle insurance product for the franchise dealer and luxury motor vehicle market. Provident Luxury Motor Vehicle Insurance has been specifically designed to provide point-of-sale insurance. It is also designed to appeal to all franchise dealers with its unique ‘new for old’ policy, providing added benefits to dealerships for parts supply and vehicle replacement. The product is underwritten by Co-Op Insurance NZ. When asked about the differences between what’s currently on offer in the market and the new Provident product, Jaques Gray, Provident’s National Sales Manager, responds: “For the market we are targeting, it is important for customers to have an insurance product that provides more to complement the customer’s investment decision. “This product offers an up to three years ‘new for old’ replacement and is available for any new vehicle, not just cars in certain value bands or from one individual manufacturer. “For repairs to vehicles OEM parts are used, and for Luxury policies on used vehicles we also have an ‘agreed value’ option for the first 12 months. “All of the new policies are available as a multi-year policy for up to three years, which ties in nicely to any term loan, service contract or warranty product the customer might want. “We believe this is a different product offering, with additional customer benefits to what’s currently available,” says Gray.