Deal Pack Blog
Insurance tracking in your DMS
Your subprime borrower just totaled their vehicle. They still owe over $4,000 but unbeknownst to you, they didn’t have any valid insurance. Now what?
While this scenario may have played out for some BHPH dealerships, others manage the insurance on the front end. The most effective way to handle is track the cancellation date and, in conjunction with a starter interrupter device, disable the vehicle the second their insurance (or proof of) lapses. That is great motivator to keep you in the loop as to their updated insurance information.
You might be asking, how easy is this to track? Deal Pack has an entire insurance section dedicated to the recording and tracking of each customer’s insurance information. You can easily run reports and build queues on upcoming cancellation dates and expired insurance. You also have the ability to track missing insurance information and send out letters requesting action to get those customer’s information updated. Deal Pack knows insurance is a critical factor for BHPH dealers and we easily allow you to keep on top of this within our DMS.