Content provided by United States Warranty Corporation
Top of mind as many gear-up for summer on the water are emerging trends business owners should be educating the consumer. As with any industry, the boating industry is fiercely competitive. Fishing, Fuel and Family are top drivers in 2023. Let us take a deeper dive.
Although recreation boating is widespread, our extended service contract claims department continues to see the most popular use is fishing and family time. Boat sales are projected to regain ground from a bit of a 2019 drop. This has all the makings of a fun time, this season but also some challenges.
We anticipate an uptick in repair and replacement parts. A trend of note is the use of diesel engines. As the boats get bigger so does the engine, right? When looking for a service contract administrator, do you offer options like Engine Only, Powertrain Only or a base plan with engine component coverage that has a 90-day term?
There is nothing that will stop the family fun on the water like engine failure. Protecting that family time is what a service contract and 24/7 Claims is all about. This includes tow and lift out assistance and many other emergency benefits at no charge.
We heard from dealer networks across the US and Canada that having a one stop shop, automating the F&I process with a cloud-based F&I management platform, is business critical.
Offering dealer partners incentives and promotional programs. Ask about our profit-sharing and rebate programs.