The Right Powersports Reinsurance Contract Lets You Take Control of Your F&I Department

A dealership's F&I department is its bread and butter because this is where financing get approved, sales are closed, and after-sales products that will make ownership, a pleasurable experience are sought and developed according to each customer's situation. And with a Powersports reinsurance contract , you will have more control of your F&I department.

What is Powersports reinsurance?

Powersports reinsurance is a program offered by a third-party provider, an insurer, to a dealership that gives them more control of the F&I products they offer to customers.

In a traditional setup, the dealership will contact third-party providers to find the best add-ons for their customers. These include extended service contracts , maintenance programs, tire and wheel coverage , GAP , and so on. When a customer files a claim, the provider has the power to approve or reject such claims. With a Powersports reinsurance contract, your dealership will have the upper hand when it comes to making such decisions.

With reinsurance, you will have more freedom when it comes to the inclusions and stipulations on the contracts and programs you will be offering your customers. And as mentioned above, you have more control on the claims and approval process. This will instantly boost customer satisfaction as you are no longer "at the mercy" of a third-party provider.

For your dealership, a Powersports reinsurance contract means premiums will be paid to you instead of the provider. This means you will not only be approving claims, but you will be paying them as well. But here's the best part, once a contract matures, whatever is left from the policy will go to you. This will increase your bottom line eventually.

Additionally, you will have funds to back up your plans to expand or to diversify your portfolio. In a word, reinsurance gives you more control of your F&I department, enables you to provide better F&I service to your customers, and improve your bottom line. It's a program designed to help your business grow, if managed properly.

Talk to Torque Group today on how to establish your own reinsurance company

Take your dealership to the next level; build your own reinsurance company. Provide better service to customers while increasing profit. Can't wait to get started? Call Torque Group at (800) 859-0590 today! You may also leave a message here for questions or inquiries on Torque Group's Powersports reinsurance contracts.