SMT introduces extended protection plans
BRANFORD, Conn. – Secured Marine Transactions has introduced a new series of extended plans covering repairs of propulsion systems and accessories on new and pre-owned boats, the company said in a release yesterday.
“Repairs can run to thousands of dollars for engines, drive systems and accessories,” said James Nolan, CEO of SMT. “These service plans provide peace-of-mind for boat owners by ensuring these costs are covered. This is the latest addition to our growing portfolio of services for boat dealers, brokers and owners, designed to facilitate all aspects of buying and selling new and pre-owned boats.”
Engine coverage plans include outboards, stern drives, inboards, diesels and personal watercraft. Accessory packages include trophy fishing, ski boats, runabouts, navigation electronics, trailers and cruisers. New-boat service plans offer terms up to eight years, including the manufacturer’s warranty. Pre-owned boat plans offer terms of 12, 24 or 36 months for qualifying products up to 10 prior model years.
Participating service dealers and boatyards are reimbursed for parts and labor, with claim payments made directly to the repair facility.
Boat owners can purchase the service plans through a participating dealer or broker when buying a new or used boat, or online through the Boats.com, YachtWorld.com and SMT Web sites.
When the service plan is bought at the time of boat purchase, the owner can receive coupons worth $1,500 in additional benefits.
The SMT extended service plans are administered through an agreement with FPC Premium Marine Protection, a Protective Life Insurance company.
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