Just over a month since UK Warranty relaunched its revamped Safeguard product, it has announced the addition of a Direct Debit facility. This allows retailers to offer their customers monthly payment plans on all Safeguard warranties, including the new Safeguard plus and Replacement Cover, the company explains.
UK Warranty managing director Neil Martin said: “We want to support independent retailers integrating warranties into their entire customer journey, ensuring that they are flexible and affordable for their customers.
“Even though we saw customer confidence increase by five points last month, purchasing an electrical appliance is still a significant amount of disposable income for most households. A Direct Debit facility enables customers to protect their purchase without having to pay for the product in a lump sum, and could give retailers a competitive advantage over stores who cannot offer this option.”
Since the launch of the new pricing structure in August, UK Warranty has reported a 20% increase in sales compared to the same period last year.
Neil added: “Providing retailers with net rates means we can offer them the most competitive off-the-shelf warranty prices currently available on the market, giving them control of the retail price, and now how their customers choose to pay for them. We have seen strong interest in Accidental Damage cover with over half of customers choosing to upgrade from the standard Safeguard warranty.”
