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Not all service agreement companies are the same. Here are a few things that you should find out before you pick one.
- You as a dealer should know what type of insurance coverage the service agreement company has obtained. Is it an RRG (risk retention group)? Are the service agreement company and their reinsurer owned by the same people? Does the policy provide first dollar stop loss or some other type of coverage?
- Does the service agreement company administrate their own claims, or do they have a third party doing their administration?
- Is there a deductible?
- Does the service agreement company have same-day coverage, or is there a 30-day waiting period?
- How many hours of repair time does it take to be eligible for a rental car?
- In regards to roadside service, does the service agreement company reimburse the customer, or does the customer call a toll-free number and get the service dispatched directly?
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