Brown & Brown Dealer Services introduced a consumer assurance program this week that will cover up to six months of payments for certain new RV owners who lose their jobs after purchasing an RV.
At a time when many RV dealers and consumers are returning to work following weeks of widespread economic shutdown, Brown & Brown wanted to give dealers something new to promote to consumers who may be hurting financially. The F&I service provider calls its new program “Payment Confidence.”
Participating dealerships will be able to offer up to six months of payment protection for new RV owners who lose their jobs and are eligible for unemployment within a year of purchasing the RV. Motorhome and travel trailer dealers nationwide can now take advantage of the new consumer assurance program meant to ease anxieties about purchasing an RV in the COVID-19 era.
Brown & Brown said it is the first in the RV industry to offer this kind of purchaser insurance program. Shawn Moran, head of Product Development for RV and F&I Training, likened the B&B insurance program to the popular Hyundai Assurance campaign.
“The main idea is to differentiate yourself from your competition and to provide some kind of anxiety relief because of what’s going on in the workplace, and for your consumer to have the confidence to go purchase an RV still,” Moran said.
The Payment Confidence program is not a deferment of new owners’ payments, but rather an actual coverage agreement that will make up to six months of payments, with a $1,000 maximum monthly payment. Dealers will have the option of enrolling in a three-month or six-month protection plan, with varying levels of monthly coverage depending on vehicles sold.
Moran said the program is administered by a current tech service provider B&B already offers, and is insured by AmTrust.
He said the company’s team began developing the Payment Confidence program around eight weeks ago, when the pandemic became severe nationwide. Brown & Brown announced the program Friday, May 1.
“We wanted something for our dealers to have in place that would help give their consumers confidence when they come out of this,” Moran said.
Dealers interested in participating in “Payment Confidence” should reach out to Brown & Brown at [email protected].