LossPay for Dealerships
If you’re a Dealership Owner or F&I Manager and Interested in offering LossPay Diminished Value Insurance to your customers, our Reps are interested in talking to you!
Become a LossPay Dealership
Offer LossPay Diminished Value Insurance in Your Dealership
When a vehicle is damaged in an accident and repaired, its resale value may be less than that for a comparable vehicle that has not been damaged. It’s called Inherent Diminished Value (or vehicle Loss of Resale Value).
Why Dealerships Should Consider Offering LossPay
Offering Diminished Value insurance can serve as a unique selling point that differentiates a dealership from its competitors. In a market where consumers are increasingly aware of the financial impacts of vehicle depreciation, having this coverage option can be a significant advantage. It allows dealerships to present themselves as forward-thinking and customer-centric, which can attract new clients who are looking for comprehensive vehicle protection options.
Additionally, by integrating this insurance into their suite of services, dealerships can potentially increase their revenue streams. Not only does this create an additional sales opportunity, but it also fosters stronger relationships with insurance providers like LossPay, which can lead to more collaborative ventures and cross-promotional opportunities in the future.
LossPay Customer Benefits
Financial Protection Against Diminished Value Losses
After an accident, your vehicle’s value often drops, even if it’s repaired to its original condition. Traditional auto insurance typically covers repair costs but not the loss in market value. Adding LossPay ensures: Compensation for Market Value Loss: LossPay covers the difference between your vehicle’s pre-accident and post-repair market value, protecting you from financial loss.
Diminished Value Coverage Beyond Repairs
While standard auto insurance focuses on repair costs, LossPay goes a step further by addressing the hidden financial impacts of an accident: Beyond Standard Repairs: Traditional policies often fail to cover the financial hit from diminished value. LossPay fills this gap, providing a complete solution. Holistic Financial Recovery: Ensures you recover not just from the physical damage but also from the financial depreciation of your vehicle.
Peace Of Mind And Financial Security
With LossPay, you gain an extra layer of security that standard auto insurance might not offer: Reduced Financial Stress: Knowing that diminished value is covered can alleviate concerns about financial losses after an accident.
Dealership Benefits
Customer Retention
Earn Extra Income
Risk Solution
Renewals
Restrictions apply
Marketing
Event Partner
Restrictions apply
FAQ
You've Got Questions - We've Got Answers!
Here are LossPay's most frequently-asked questions, for additional inquiries please reach out using one of methods below:
833-LOSSPAY
info@losspay.com
Guaranteed Asset Protection (a.k.a GAP insurance) protects the borrower of a car loan if the car is totaled by paying the remaining difference between the actual cash value of a vehicle and the balance still owed on the loan.
This is different from Diminished Value coverage as we only cover the loss of resale value of an accident vehicle following repairs.
Yes. LossPay covers vehicles based on their current market valuation as long as it exceeds $50,000. Coverage is not contingent on whether a vehicle is financed or purchased in cash.
LossPay is an insurance product and can only be sold through a licensed agent. However, dealership F&I managers can refer customers to our online self sign-up site or direct your customers to call us at 1-833-LOSSPAY.
Call or schedule time to speak with a LossPay representative regarding the enrollment process to begin offering LossPay coverage in your dealership.
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