Compliant Admin Obligor Vehicle Service Contract solutions for State regulatory requirements and lender requirements.
Detailed reporting provided for claims, exceptions, frequencies and severities. Providing great claims management and customer service.
Low variable fee structures with direct, reinsured, profit participation.
This is an Admin Obligor program with options for the dealer to participate in the underwriting profit. Less than $100 for admin and underwriting.
If you are not selling several thousand contracts it can sometimes be difficult to obtain the proper insurance policy and admin solution for state level or lender compliance for your Service Contract Program.
Dealers have options on how to structure a program where they retain all the underwriting profit - with or without the use of reinsurance.
Don't overpay for a short term 3/3, 6/6, 12/12, 24/24 or long term 72/100 vehicle service contracts.
Great options exist allowing a dealer to pay less.
Take control of your business and invest in yourself
Utilizes dealer's local centers, detailed reporting and support
Contractual Liability Reimbursement Insurance or Contractual Liability Insurance Policy
Service Contract Reimbursement Insurance Policy
State Regulatory Overview
Every state is different and the regulations change often with around 40 states requiring some form of registration and/or financial guarantee for a Third Party Obligor, Administrator Obligor and/or a Dealer Obligor program.
States include the following with changes taking places constantly: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Oklahoma, Oregon, South Carolina, Texas, Utah, Vermont, Virginia, Washington, Wisconsin, Wyoming.
State Regulatory Examples
If a motor vehicle dealer is selling its own service contracts, and it is contractually and financially responsible for those contracts, then the motor vehicle dealer is a service contract provider, and must register with TDLR.