At GM, Joel Ewanick and Chris Perry need to repeat the miracles for which they became famous at Hyundai. So what do you do in that case? “Let’s just do the same thing again.”
If GM would do a repeat of the Hyundai Assurance Plan (lose your job, return your car), with a 10 year warranty thrown in, the journos would snicker, but the cars would fly off the lot. But at GM, this would be too gutsy. So what about the next best idea? That’s right: “Free insurance!”
Any driver from Oregon and Washington state who buys or leases a new GM “vehicle through Sept. 6 and titles the vehicle in either state will receive a free one-year automobile insurance policy from MetLife Auto & Home,” reports Automotive News [sub].
The insurance covers liability (up to 100,000 per person, and up to $300,000 per occurrence) and physical damage. The insurance come with Met Life’s new car replacement feature: If, in the first year or before 15,000 miles, are on the clock, the new vehicle is wrecked and not salvageable, MetLife Auto & Home will fix or replace the wrecked vehicle with a new one without factoring in depreciation. I ran a quick quote check for my 2011 Silverado C3500 Crewcab, and the program would save me $2100 a year. GM probably will pay less.
So why only Oregon and Washington? It’s a test. Cautious GM wants to see whether the insurance can move enough metal. They picked the toughest states. Oregonians and Washingtonians traditionally are GM adverse. If the program makes it there, it will make it anywhere.