LKQ announces product liability indemnification
April 5, 2012—LKQ Corp. recently announced the launch of its “Promise of Protection,” a warranty protection initiative for the use of the company’s aftermarket parts.
Under the “Promise of Protection,” LKQ said it will indemnify licensed auto repair shops against injury or damage that is caused by a defective aftermarket vehicle replacement product distributed by the company.
LKQ said its “Promise of Protection” initiative is meant to offer peace of mind to shop owners and insurance professionals that use the company’s aftermarket replacement parts.
LKQ’s announcement comes just months after Diamond Standard Parts launched a similar initiative in January. Diamond Standard formed a strategic alliance with the Automotive Service Association (ASA), which provides ASA-member shops with $40 million of product liability protection coverage from the use of the company’s aftermarket replacement parts.
“We have always stood behind our product quality and offer lifetime warranties for all of our aftermarket crash parts, that’s not new,” said Rob Wagman, president and CEO of LKQ. “Our Promise of Protection goes one giant step further by offering product liability indemnification. This new program clearly demonstrates our higher level of quality assurance beyond the lifetime warranty, so our customers can be totally confident when buying and using our products in their repair businesses.”
LKQ’s “Promise of Protection” is subject to certain terms and conditions, the company said. For more information, visit lkqcorp.com.
LKQ said it is the nation’s largest provider of aftermarket, recycled and refurbished collision replacement parts. The company operates more than 440 facilities throughout the United States, United Kingdom, Canada, Mexico and Central America.