CornerStone Wrap and Wrap Plus Coverage

Archived CornerStone News

If you are unfamiliar with Wrap coverage, it is a product that is designed for vehicles that are still under the manufacturer’s base warranty where the powertrain warranty extends beyond the expiration of the base warranty. Upon the expiration of the base warranty, the Wrap coverage will run parallel to the manufacturer’s powertrain warranty, offering the customer exclusionary coverage for non-powertrain components. The benefit to the customer is they have a full exclusionary coverage experience between the Wrap coverage and the manufacturer’s powertrain warranty at a lesser cost compared to a full exclusionary service contract.
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For those customers who are interested in keeping their vehicle beyond the expiration of the manufacturer’s powertrain warranty, we offer a product called Wrap Plus. Wrap Plus is the same as a Wrap but, upon the expiration of the manufacturer’s powertrain warranty when a Wrap coverage would also normally expire, coverage continues with the addition of exclusionary powertrain coverage. This offers the customer a full exclusionary level of protection beyond the powertrain warranty and through the expiration of the Wrap Plus term selected at a lesser cost compared to a full exclusionary service contract.

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As the average length of car ownership continues to increase, Wrap Plus is a product that dealers will want to have available to ensure they don’t miss out on sales opportunities that will offer their customer’s exclusionary protection that complement the base/powertrain warranty of the vehicle.