Self-Insured Service Contracts
For those who are interested in offering customers service contract programs that not only improve F&I profits, but that also include dealer participation in underwriting profit and investment income, control over claims, the ability to use earned income for facility improvements, or other needs.
First Extended
First Extended was the first to introduce this concept in automobile service contracts and has over 40 years of experience as a dealer obligor product, backed by an A.M. Best A-rated insurer. You hold the income, and First Extended administers the program, provides support and materials, account oversight, and claims adjudication. You have the ability to override denied claims, while still working through a First Extended claims administrator. With its long history in the automotive business, First Extended service contracts are approved through most third party lenders.
Dealer Owned Warranty Company
DOWC offers you the ability to brand your service contract. This product provides an alternative for
dealerships to participate in profits generated by vehicle service contracts and other products, provides the most tax efficient structure for retention of underwriting profit and investment income, yet retains the same full service high quality administration as well as insurance from an A.M. Best A+ rated company. You, the dealer, control the name and branding of the program and you have authority to override denied claims. Administration support includes front end processing and insurance reporting, 100% claims adjustment, and online financial reporting including balance sheets and income statements.
As with all of the products on this website, you get the great client servicing that the Jeram Group
provides. If you’d like to explore these products further to determine which one is the best fit for your
organization, contact the Jeram Group and we will be happy to answer all of your questions.