As a heavy equipment dealer, one of the ways you can support customers is by offering extended warranties. Customers appreciate the peace of mind that comes with knowing you have their back, and we know appreciate that our team here at Protect My Iron has your back.
But what happens when your customer has a claim?
With our extensive experience in equipment dealership management as well as the insurance industry, we understand that there’s never a good time for a breakdown. Downtime means lost productivity as well as out-of-pocket expense. That’s why our PMI team is fully committed to supporting your dealership and your customer through the entire claims process, making it as fast and stress-less as possible.
Here’s how the claims process works and the information we’ll need to get moving on your customer’s claim.
NOTIFY US RIGHT AWAY
It’s best to let us know immediately about any breakdown, but you must do so within 48 hours. You can call Protect My Iron at 866-662-0995 or email us at claims@protectmyiron.com. We will verify coverage, assign an adjuster and discuss the specific equipment failure with you. At this point, we’ll need three things from you:
- The customer’s contract/certificate number
- Date of breakdown
- Hours at the time of failure
- Providing this initial information protects your dealership if there is a problem – for example, this particular loss is not covered, the machine is not registered, or machine hours exceed policy parameters.
During this first call we will also determine the likely cost of the claim.
If it will be over $1,000 you will also need to provide photographs of the failed part(s) before we can proceed. Always retain any failed parts until the claim has been settled.
If the claim will exceed $5,000, our adjuster will need to formally pre-approve the claim before any repairs can be made. This protects both your dealership and your customer from surprises later on, by clearly explaining what will be covered and to what financial extent. It also protects us, because without pre-approval for work over $5,000 the insurance could decide to deny the claim later.
FILING CLAIMS IS EASY
We know you’re busy and insurance can be confusing, so here at Protect My Iron we’ve streamlined the claims process to make it simple and fast. When you partner with us to offer extended warranties to your customers, we create a private web portal for your dealership. You can use this to file claims online. If you haven’t used the portal yet, we’ll be happy to walk you through it.
You must submit claims for payment within 30 days of the repair date, including an explanation of the cause of the failure and the repairs made. You can upload the documents required for us to complete the claim — service report, work order, photos, etc. In some cases, we may request additional maintenance/service records, but you’ll have 15 days to submit them.
WE CALL IT PROTECT MY IRON®
PMI’s extended warranties do more than protect your customers’ heavy equipment. Our insurance products benefit your dealership by giving you a new revenue stream that helps build customer loyalty. Want to know more? That’s easy, too. Just give us a call or drop us an email.
