The Car and Truck Fleet and Leasing Management Magazine

Warrantech Selects TitleGuard to Provide Insured Vehicle Title History Information for its Independence Vehicle Service Contracts on Used Cars

January 29, 2004

Vehicle Title LLC announced that its flagship product, TitleGuard Vehicle Title Insurance, has been selected by Warrantech Corporation to provide insured vehicle title history information as an added consumer benefit for its new Independence Used Vehicle Service Contract program. In addition to offering the industry's most comprehensive and reliable protection against mechanical problems, each Independence Service Contract will also come with TitleGuard's $50,000 insurance protection against unreported Department of Motor Vehicles (DMV) brands, title defects, and evidence of odometer rollback.

"We are very excited to be part of Warrantech's new Independence program," said Tom Rubadue, president of Vehicle Title LLC, sole provider of TitleGuard Vehicle Title Insurance. "By including TitleGuard with the Independence Service Contract, Warrantech will be able to offer used-car buyers safety; protection against future mechanical problems, and 100-percent insurance against hidden DMV title defects from the past."

Warrantech's new Independence Used Car Service Contract was designed to offer used-car buyers a broad service contract. It protects the consumer against mechanical problems and includes a full array of benefits including TitleGuard, road club services and vehicle rental, all at an affordable price.

Independence comes with TitleGuard's two-part insurance policy. Part one provides a vehicle's complete DMV title history by scanning a large relational vehicle database for evidence of salvage brands, lemon brands, hail/flood brands, odometer rollback, etc. Once it is determined that a vehicle has a "clean DMV title history," TitleGuard insures the accuracy of this information for up to $50,000.

"TitleGuard also insures Warrantech and consumers against DMV delays and mistakes," said Rubadue. "If Warrantech issues a warranty on a vehicle that initially came back with a clean title history and later learns that it is ineligible due to a title defect previously unreported by the DMV, Warrantech can immediately notify the dealer, allowing the dealer to avoid all problems related to the vehicle. In such a situation, TitleGuard will pay the customer's actual losses up to $50,000.”

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