Here's the link: Pennzoil Lubrication Limited Warranty | Pennzoil Car needs to be less than 6 years old with less than 125K miles.
my concern would be how do you prove lack of lubrication caused the failure of one or more of the covered 15 parts
A marketing strategy. No changing oil at 5k miles or less will not remove built up detritus and piston sticking sludge deposits and clogged close tolerances in variable valve timing components.
An easy guarantee to offer, because that car is likely to come off the road for reasons unrelated to lubrication. They're just trying to use it as a driver to get you registered on their website and thinking about their product for the next 10 years.
I guess the real question I'm asking, will Pennzoil cover what happened in this video - 11 minute mark. This is clearly an oil/lubrication issue. The oil didn't keep the engine clean enough. It allowed the sludge buildup on the lower ring, resulting in scoring of cylinder 1 & 4 - causing high oil consumption. The site states, 'per OEM recommendations'; which is 10k miles or annual oil changes. According to the Car Nut, this owner did all recommended OEM maintenance, at the correct intervals. Would Pennzoil pay???
Just marketing. Do you really want to make your car a test subject? (This reminds of the plot of Nebraska, good movie with Bruce Dern. I think even the marketers don't expect anyone to take this too seriously.)
I just laugh at the claims. I think it's like PT Barnum said, "There's a sucker born every minute!" I don't know anyone who successfully got any help from oil manufacturers when their engines blew a head gasket or worst but I'd imagine you'd need very detailed receipts and documentation to get past the bean-counters who's job it is to deny claims. I do know people with Car Shield "protection" who have horror stories about them denying any claim and mechanics I know hate Car Shield and other aftermarket "warranties"
The company has most likely bought insurance in case of possible mass payoff like other marketing ploys like a white Christmas special. The insurance company would pay off should some claimants meet all the criteria for an engine replacement. Then, they might reap the profits of another advertising campaign by selecting a particular claimant as an example. Basically, thy will not choose a claimant with a criminal record or an undesirable personality. I rather just change my oil every 5k miles with any recognized quality brand.
You just take measurements of the parts after the failure and compare them to the measurements you took when starting the warranty. Easy.