News

SouthwestRe Introduces Complete and Ultimate Theft Protection

Nov 02, 2015

Albuquerque, NM (November 2, 2015) – According to the FBI, an estimated 689,527 motor vehicle thefts occurred nationwide in 2014. This translates to 1,889 thefts per day, or one motor vehicle theft every 45.7 seconds. To help reduce this threat, and to lessen the financial impact on the vehicle owner when theft occurs, SouthwestRe announced today the release of two new products: First Automotive Complete Theft Protection and First Automotive Ultimate Theft Protection.

“Complete and Ultimate are limited product warranties designed to protect new and used vehicles from theft,” said Jamie Jerabek, Vice President of Underwriting and Product Development for SouthwestRe. “If a protected vehicle is stolen and deemed a total loss during the term shown on the warranty, both programs will pay the vehicle owner the benefit amount shown on the warranty, or the NADA “clean trade-in” value of the vehicle, whichever is less.”

“Franchise and independent dealerships can use a variety of theft deterrent devices with Complete and Ultimate,” Jerabek said. “These include an alarm, window etching, GPS, a radio frequency device, or tamper-resistant labels. In addition, both programs offer a wide variety of term/benefit combinations, ranging from a 2-year term with a $1,000 benefit to a 5-year term with a $5,000 benefit. Dealerships can choose to offer any or all of the various combinations to their customers.”

Ultimate Theft Protection provides a number of additional benefits, including a significant rebate if the customer purchases a replacement vehicle from the original selling dealer prior to making a claim. Also, if the customer’s vehicle is stolen and recovered, but not deemed a total loss, Ultimate will reimburse the customer for either the cost of repair or their insurance deductible up to $500, whichever is less. The program also includes car rental reimbursement, trip interruption reimbursement, and airfare reimbursement.

“All of us at SouthwestRe are very pleased to bring Complete and Ultimate Theft Protection to the marketplace,” Jerabek said. “Along with our Theft Protection Vehicle Replacement program, we believe SouthwestRe offers the finest collection of theft protection products available in our industry. ”

For More Information:

If you are a vehicle owner and would like learn more about First Automotive products, or are interested in purchasing a vehicle service contract, please click here. If you are an agent and would like to learn about offering these programs in your dealerships, please complete our “Contact Us” form, or call our Client Services department at 866-414-3867.

About SouthwestRe:

For 30 years, SouthwestRe has been one of the nation’s leading Third Party Administrators and providers of profitable reinsurance programs. Through independent agents, we offer an exclusive line of Finance & Insurance (F&I) products to franchise and independent dealers throughout the country, who in turn offer them to their customers. We are perhaps best known to the general public for service contracts sold under the First Automotive, PowerRev, ProTrek and TruckGuard names, which offer coverage for cars and trucks, powersports vehicles and motorcycles, RVs, and Class 3-8 trucks.

###