Vehicle Protection Product Act; revised to include component parts of a vehicle

This bill expands the definition of vehicle protection products in Alabama to include individual component parts of a vehicle, such as engines, transmissions, and body panels. The change ensures that existing consumer protection rules for vehicle protection products now apply to warranties covering these specific parts. Companies selling warranties for vehicle components must comply with the same regulations that currently govern warranties for devices like alarm systems and tracking equipment. The law clarifies that these warranties are not insurance and must provide reimbursement for incidental costs if the protected component fails to perform as promised.