Sometimes an extended warranty may seem like nothing more than a sales gimmick to boost the ultimate price of your new washer or some other purchase. But if the equipment that would be covered by an extended warranty is essential to your business operations, then the picture looks very different. For construction equipment, extended warranties can provide significant benefits for owners and for dealerships as well.
PROTECTING YOUR EQUIPMENT PROTECTS YOUR BUSINESS
- An extended warranty reduces your exposure to unexpected expenses for repairs or parts replacement. Instead of a surprise out-of-pocket outlay that could jeopardize cash flow or even put you in a cash pinch, business continues smoothly because the cost is covered.
- That makes budgeting more predictable, and that simply makes it easier to manage your business. There’s a priceless peace of mind factor at play here as well.
- An extended warranty that is still in place can help boost the price of a machine you wish to sell, if the warranty is transferable. The buyer will get more, so you can perhaps charge more. In addition, knowing the equipment has been covered up till now signals to a potential buyer that this machine has been well cared-for, boosting confidence in its condition.
PROTECT MY IRON® CAN BOOST YOUR DEALERSHIP’S BUSINESS
PMI’s collection of extended warranty and other insurance products allow dealers to enhance customer service by making it easier for construction equipment owners to get the longest life, most cost-effectively, from each machine. These products also give dealerships an added revenue stream.
It’s always worth considering the pros and cons for each machine to assess the true value of an extended warranty. If you need assistance with that, or you’re a dealer wanting to increase customer service via insurance product options, give us a call. Our PMI team is not only expert when it comes to insurance, we’re grounded in the equipment industry.
