We’re all familiar with selling the “I” in F & I which can be distinctly profitable. Indeed, in some clearance-selling (aka dumping) situations the profit in the F & I can actually be the largest share of any profit in the deal! Now there’s an added “I” that could bring some added profit.
In its continuing effort to find more profit-centers for retailers, the Marine Retailers Association of America (MRAA) has developed a retail boat insurance program through National Marine Underwriters. To date, more than 80 dealers in 30 states have registered for the new program, an impressive start.
Essentially, the retail boat insurance program is an on-line system that easily delivers retail boat insurance to every MRAA member-dealer’s showroom. And, why not? There is a distinct advantage in having this service available right at the dealership. After all, customers want boat insurance to protect their investment and to meet the requirements of most lenders. Dealing with insurance agents can be time-consuming for the customer. It makes sense to offer it in one convenient step during the purchase and F & I process.
To learn all the details, contact the MRAA Offices at 708-763-9210 or direct your inquiry to NMU’s Stephen Pease at 888-262-5891, firstname.lastname@example.org.
Finally, if you’re already participating in the program, how about sharing here what impact it’s had for you thus far?