Warrantech Corp., Bedford, Texas, an independent provider of service contracts and after-market warranties, has launched a buyer protection plan for upscale jewelry and watch purchases, the company said in a statement.
Warrantech said it will brand these offerings under the Elite Jewelry Care Plan and Elite Watch Care Plan service marks. The jewelry plan offers a two or three year service term and will repair or “make new” a wide variety of damages to most fine jewelry pieces. The watch plan offers service terms of up to five years and covers most components of the timepieces. Additionally, the watch plan provides a replacement program on lower-end watches. Both the jewelry and watch service plans are eligible for renewal, the company said.
According to Burt Shaw, president of Warrantech’s consumer products division, the new offering is “another way that retailers can ensure the best customer experience possible in a highly competitive environment.
“The Elite Jewelry Program is designed to offer peace of mind and a sense of future security for jewelry and watch purchases that often represent an ‘emotional investment’ for the consumer, and at the same time, offer dealers and retailers a new revenue stream and profit opportunity,” .said Burt Shaw, president of Warrantech’s consumer products division.
Warrantech initially will target large national jewelry retailers and small-to medium-size regional chains, which will be served primarily through direct sales. The new programs will be featured at the Atlanta Jewelry Show, August 2-4; the Columbus Jewelry Show, August 16-17; and the Dallas Jewelry Show September 20-22.
Warrantech also said that the two plans will be integrated into WCPS Online, a Web-based platform introduced for other consumer product warranties during the Winter CES 2002, which will allow jewelers to register products and warranties, verify coverage and obtain repair authorizations.