RV Insurance Outsourcing Solutions
Insurance outsourcing trends a dealership’s costs lower over time in the form of reduced liability mistakes and greater customer satisfaction.
Next to financing, ensuring you have proper insurance coverage is perhaps the most important part of owning a boat, camper, or recreational vehicle. As a dealer, working with an F&I provider who can secure adequate coverage proves essential to the goal of creating satisfied customers.
Dealership Finance and Insurance Coverage
Recreational vehicles, boats, campers, trailers, and even motorcycles and jet skis are either expensive investments, high-risk investments, or both. Once the paperwork has been signed and ownership has been transferred, one critical step remains before a customer can get their loan application approved and begin their next adventure: securing adequate insurance coverage.
Not only is insurance legally required, but part of this process entails the transfer of liability from dealership to customer. It’s important to transfer liability for any purchase, but when it’s something as large as an RV, the potential risk is that much greater. Our insurance services are geared toward dealers and customers. Because insurance is required to get a loan approved, we facilitate a seamless process that makes the transaction as smooth as possible.
Recreational Vehicles
Coverage for your RV is similar to your auto insurance in many ways. A minimum amount of liability insurance is required in every state. Your RV is a virtual house on wheels, with a kitchen, shower, and even multiple bedrooms. If the decision is made to live inside an RV even part-time, insurance for all the items inside—similar to some home insurance policies—is a good idea. RV insurance typically includes:
- Bodily injury liability
- Property damage liability
- Medical payments coverage
- Uninsured/underinsured motorist coverage
- Uninsured motorist property damage
- Physical damage coverage
Boats
As with a road vehicle, you need the proper insurance to cover you when you operate a boat. This type of insurance covers most watercraft with motors such as fishing boats, pontoon boats, leisure craft, and yachts. It usually won’t cover small watercraft such as canoes or kayaks, which may be covered under your homeowner’s policy. Finance Solution has the expertise to navigate the world of watercraft insurance to find plans that keep you protected without breaking the bank. Boat insurance typically includes:
- Collision damage
- Property damage liability
- Comprehensive (damage from non-collisions)
- Uninsured/underinsured boater coverage
Ensure Proper Coverage
Even if customers have an otherwise good experience, a lack of insurance services could spoil it. Finance Solution can help avoid that.
Dealership Financing and Insurance
Keeping all your financing and insurance solutions under one roof is essential to facilitate a smooth buying process. Internal finance departments often have trouble with insurance because that function must be outsourced to another provider. In a way, this alone defeats much of the purpose of keeping everything in-house.
Move More Units
Dealerships that outsource their F&I through Finance Solution regularly see a 20% bump in approvals and, by extension, units moved off the lot.
