What is ADI Agency’s Protect My Iron® & How We Protect You With Construction Equipment Extended Service Contracts Through Lloyd’s of London
Preferred construction equipment dealerships do more for their customers than simply selling and servicing machinery. Construction equipment is an expensive investment, and collectively, a fleet of machinery represents each customer’s primary business asset. Without proper protection through a construction equipment warranty or extended service contracts, any one of their machines could damage their ability to keep working or make a profit, should something major go wrong.
Although the new equipment you sell comes with an OEM-backed warranty, once usage exceeds the maximum service hours or months covered, your customer is on their own. That’s where ADI Agency’s Protect My Iron® program comes in. Protect My Iron® is a unique, extended warranty menu that enables you to offer cost-effective continuous insurance coverage for older machines. It’s as valuable for your dealership’s inventory and rental fleet as it is for customer-owned equipment.
Protect My Iron® has your back.
For your dealership, this program creates a new revenue stream as well as a significant value-added service for customers. ADI Agency is the only firm that offers tailored construction equipment insurance products as well as consulting to dealers, essentially enabling your dealership to serve as an insurance agent.
Protect My Iron® turns insurance liability into another asset. And since ADI Agency is comprised of experienced experts in both construction and insurance, every detail is designed to offer maximum benefits to those in the construction industry.
For your customers, it’s easy. They can customize coverage for the powertrain, the powertrain plus hydraulics or an entire machine, depending on how, where and how often each machine is used. Proprietary software enables your customer to store and manage all their insurance in a single place. They, your dealership and appropriate OEMs can see and track claims. It couldn’t be simpler – or more important.
Backed by the unmatched strength of Lloyd’s of London.
No entity anywhere in the world has a greater reputation than Lloyd’s of London. Although most people think Lloyd’s is an insurance company, it’s actually an international marketplace that matches those who need insurance with syndicates that provide underwriting. The money to back potential claims comes from “members” – investors such as very large insurance companies, individuals, listed companies and limited partnerships.
Lloyd’s is a financial powerhouse, and that means you can have complete confidence in your coverage. The company uses a complex “chain of security” to ensure solvency, even in the face of disastrous years such as 2011, that brought myriad devastating natural disasters and other extremely costly claims worldwide.
Because of its one-of-a-kind structure and financial strength, Lloyd’s can insure virtually anything, no matter how unusual or how huge. Lloyd’s insures Bruce Springsteen’s voice, and they insure cybercrime such as data breaches. Construction equipment may not be that exotic, but when it represents your customer’s livelihood, nothing is more valuable.
As you and your customers are preparing for a much brighter financial year, it may be easy to overlook behind-the-scenes necessities such as extended service contracts and extended warranties for machinery. Connecting with Protect My Iron® now will allow your dealership to provide greater peace of mind for customers running older equipment, and it will give you another tangible benefit to offer prospective new equipment buyers.