HI all,

 

just a warning for anyone either buying a ZX from a dealer with a warranty or buying a warranty for their ZX....

 

Warranty Holdings, the largest warranty company in the UK, has just gone into voluntary administration.

 

I read this in a trade mag from my mates garage. However they are still saying that (as new insurance underwriters are involved) they will still settle all valid claims from existing policy holders. We shall see......

 

They are hoping to be sold as a going concern, though. I'll watch with interest as mine only has 3 months left, so I'll consider carefully whether it is worth renewing :confused:

 

Richard :)

All insurance companies have to be insured themselves by Lloyds of London incase something major happens and you get a claim made aginst you for millions, they then would claim from Lloyds. So any claim would probably will still be honored. Plus I think British law will not allow it as thousands of drivers could be driving without insurance they not know it.

Just to clarify this thread slightly, first check out the link here:

 

http://www.am-online.co.uk/newshome/home_fullarticle/?articleid=25788

 

10 Million big one`s to the Vat....... OUCH!

 

As a repairer we received a notification yesterday of Warranty Holdings liquidation, we had not been aware that this has been an ongoing problem of theirs.

 

As a repairer we now have to join the list of creditors to try and recoup some (any) of the ongoing claims we have processed the past 8 weeks ( several ) but I expect there is going be some more important creditors than us who will get priority... like the Customs and Excise! so we stand to loose out on all the jobs we have completed.

 

Also our notification letter reads in such a way that any new claims will NOT be met and any new owner ( if one found) is not duty bound to cover previous clients policies.

 

Warranty Holdings were only brokers, the mechanical cover was insured through Ng Scania

WHA Ltd. is a wholly owned subsidiary of the Warranty Holdings Group who became part of the Ford Motor company group of Companies in May 2001.

 

Neither WHA or Warranty Holdings issued normal vehicle highways insurance, only mechanical and breakdown cover so little will or can be done legally.

 

Jeff @ an unpaid Z3edworld

.............As a repairer we now have to join the list of creditors to try and recoup some (any) of the ongoing claims we have processed the past 8 weeks ( several ) but I expect there is going be some more important creditors than us who will get priority... like the Customs and Excise! so we stand to loose out on all the jobs we have completed.

 

Also our notification letter reads in such a way that any new claims will NOT be met and any new owner ( if one found) is not duty bound to cover previous clients policies......

 

Jeff @ an unpaid Z3edworld

 

Sorry to hear that, Jeff :(

 

I read that NIG had pulled out of the warranty sector, which started the proceedings. The report read that another insurer would be covering ( :confused: ) whilst WHA is in administration, but after that who knows......

 

I hope you recover most of your debt, mate.

 

Richard :mad: