Learn about actual and potential costs
How much should I pay for Product Warranty Insurance?
What is the average price of Product Warranty Insurance?
This procurement report includes pricing information to help you purchase Product Warranty Insurance. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Product Warranty Insurance been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Product Warranty Insurance yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Product Warranty Insurance?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Product Warranty Insurance with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase Product Warranty Insurance?
The top four suppliers of product warranty insurance collectively generate less than 30.0% of total market revenue, indicating a low level of market share concentration. High fragmentation stems from a low level of capital intensity, whereby expensive machinery and infrastructure investments are not needed to commence operations. Moreover, the advent... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
What buying markets do you rely upon for business?
What measures have you taken to limit the risk of your supply chain?
How do you reduce costs when sourcing different products and services?
What is your largest input cost and how do you respond to supply shortages for that product or service?
If there are issues with your suppliers, how might they impact your ability to fulfill my claim? How do you satisfy replacement claims if a product is unavailable from a manufacturer?
How does your company's profitability compare to that of other market firms?
How does your company compensate for increases in the price of the products you purchase? Do you absorb additional costs or pass them down to your clients?
Has your company ever depleted its available cash reserves for fulfilling claims? Is your company at risk of this happening in the future?
What will happen to my coverage if your company goes out of business?
What is the average retention rate among your clients?
How do you rectify client complaints and concerns?
What is the availability of your customer service staff?
Do you have clients that are willing to provide references on your behalf? If so, how can I get in contact with them?
Do you have toll-free customer service phone numbers available for claims and administrative support? Are these numbers available internationally?
How do you select and judge your customer service staff to ensure they are able to satisfy your clients’ needs?
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Key elements for every RFP
What should my Product Warranty Insurance RFP include?
Vendors should include a detailed breakdown of their premium rates.
Buyers should outline any other costs that insurers are responsible for, such as shipping.
Buyers should evaluate the extent to which the coverage meets their needs.
Buyers should evaluate insurers based on their premium rates.
Buyers should evaluate each insurer's experience and financial performance.
For other selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.
Buyers should include the policy's length, including the date when it begins.
Buyers should include the date when proposals are due, as well as any other relevant dates prior to the contract award.
Evaluate major factors to mitigate risk
How risky is the Product Warranty Insurance supply chain?
The supply chain risk for product warranty insurers is moderate. Market vendors source inputs from a number of upstream manufacturers in order to replace or repair products when claims are filed. Key upstream suppliers include communication equipment manufacturers, computer manufacturers and major household appliance manufacturers. These upstream suppliers operate in... Subscribe to learn more.