Buy-here, pay-here dealers in California who watch vehicles roll over the curb with buyers who have insurance challenges can take advantage of a new product offered by Westlake Financial Services.
The finance company recently announced a new spot delivery insurance program, which is underwritten by Knight Management Insurance Services and now available to its dealer partners in California. Westlake’s new spot insurance program is designed to provide dealers short term insurance on the vehicle they have delivered to their customer during the funding process.
The company explained spot insurance can give dealers immediate vehicle coverage, eliminating the concern when a customer’s insurance cannot be verified at the time of purchase. Spot insurance can offer temporary, flexible point of sale policies available for seven- or 14-day coverage that can mutually benefit dealerships and their customers, creating a win-win opportunity.
“We are excited to offer an insurance product for dealers that will help get their customers on the road faster with immediate protection during the funding period,” said Ralph Ontiveros, vice president of Westlake Services and Lending Solutions.
Westlake highlighted every spot policy comes with five out of the box coverages — bodily injury, property damage, medical payments, comprehensive and collision. Dealers also have the option to purchase uninsured/underinsured motorist.
Spot insurance is available in the state of California through DealerCenter.
Dealerships interested in learning more about spot insurance are invited to contact Westlake’s insurance department directly at (866) 619-2524 or online at www.westlakefinancial.com.