WHY OFFER EXTENDED PROTECTION?
Three
major reasons: (1) Removes the FEAR and reluctance
customers have in purchasing a used piece of equipment
(2) Locks your dealership into the account because
the Lift Shield Warranty program requires the customer
to place the forklift on a PM program with your dealership
and not let anyone else work on the unit (3) Greatly
increases your parts and service business.
WHO TAKES CARE OF THE CUSTOMER WHEN A FAILURE
OCCURS?
Your service department takes care of the customer
and is then reimbursed at full retail for Parts & Labor on repairs covered, and
we pay your dealership within 14 days.
DOES THE DEALERSHIP HAVE TO PROVIDE AN INSPECTION
REPORT OR OIL SAMPLE?
No, Lift Shield does not require any inspections
or oil samples, however the dealer must be
responsible for
the first 60 days of the warranty. Lift Shield then
provides the remaining term of the warranty.
WHAT IS NOT COVERED BY THE LIFT SHIELD WARRANTY?
Any part that is not listed in our terms and conditions
and general insurance exclusions such as: Collision,
Fire, Theft, Lighting, Earthquake, Misuse, Abuse,
Normal Wear and Tear, Lack of Recommended Maintenance,
Continued Operation After a Failure Has Occurred,
Alterations, Use in a Manner Not Recommended by
the Manufacturer, Any Liability for Property Damage,
Injury or Death Resulting From the Operation or
Maintenance, Operation Without Sufficient Lubricants
or Coolant, Tampering With or Modifying the Hour
Meter.
WHAT
ARE THE ELIGIBILITY REQUIREMENTS FOR A FORKLIFT
TO BE COVERED?
Eligibility - Forklifts With
Less Than 5,000 hours and 5 Years of the Current
Model Year For Both the 1 and 2 Year Programs.
Internal Combustion Forklifts
Eligibility - Forklifts With Less Than 7,000
Hours and 6 years of the Current Model Year for the
1 year Program.
WHAT'S THE BEST WAY TO SELL THE LIFT SHIELD
WARRANTY? Include it in the price of the
forklift and state that the forklift comes with
a one-year major components warranty.
IS THE WARRANTY RENEWABLE?
Yes, provided the equipment meets the eligibility
requirements, and the customer keeps the forklift
on a PM program with your dealership and does not
let anyone work on the forklift but your dealership.
WHAT'S THE PURPOSE OF INSURANCE?
In most all states, extended warranties are viewed
as insurance by the State Department of Insurance.
Therefore, dealers must be licensed to sell extended
warranties to protect the consumers.
WHAT DOES LIFT SHIELD COVER?
Lift Shield is more than a power train warranty.
Lift Shield covers over 140 major components of
the forklift. A complete list of the components
covered can be viewed on our web page, in our customer
brochure and in the terms and conditions of the
agreement.
WHEN
DOES LIFT SHIELD BEGIN AND END?
Lift Shield coverage always begins at expiration
of the manufacturer's warranty, or on the date the
unit is delivered to the customer. Lift Shield coverage
ends after 1-year or 1,000 hours, on the 1-year
program and 2- years or 2,000 hours on the 2-year
program, whichever occurs
first.
IS THERE A DEDUCTIBLE ON LIFT SHIELD CLAIMS?
Yes, $100. This helps reduce nuisance warranty calls
to the dealer.
ARE THERE LIMITS TO LIFT SHIELD COVERAGES?
Lift Shield will pay up to 50% of the purchase price
of the forklift over the life of the warranty.
DOES THE CUSTOMER HAVE TO PAY FOR ANY PORTION
OF A LIFT SHIELD COVERED REPAIR?
The customer has to pay the deductible, plus the
cost of any non-covered Parts and Labor.
HOW DOES THE DEALER GET REIMBURSED WHEN
THERE'S A LIFT SHIELD CLAIM?
If a Mechanical Failure meets the criteria for
being covered by Lift Shield, the reimbursement for
Parts & Labor will be the same as you would have
billed the customer: normal shop Labor rate & retail
prices for Parts, less any deductible. When the
repair is completed, send a copy of your standard
Repair Invoice to Lift Shield to be processed for
payment. It's simple and requires less effort and
paperwork than a manufacturer's warranty. Most
claims can be handled via fax or e-mail. Lift Shield
pays within 14 days of receipt of invoice.
WHAT'S THE "CRITERIA" FOR A MECHANICAL
FAILURE BEING COVERED?
Coverage is provided for: sudden and unforeseen
mechanical breakdown of covered components."
A breakdown must result from the failure of a covered
part or component. The breakdown must occur in normal
use of the machine and be sudden and unforeseen.
There must be no evidence of abuse, misuse or overloading.
Lastly, if requested, there must be evidence of
proper maintenance.
CAN CUSTOMERS HAVE REPAIRS DONE ELSEWHERE?
No, the customer must have your dealership perform
all repairs unless you authorize otherwise.
IS LIFT SHIELD TRANSFERABLE?
Yes. Once a machine is covered, Lift Shield simply
stays with the machine. It doesn't matter if the
machine is traded, re-sold or changes ownership.
Proof of ownership and a transfer fee may be required
at the time of a claim should there be a subsequent
owner.
HOW PROFITABLE IS LIFT SHIELD?
The amount of mark-up/profit is up to each dealer,
but we suggest a minimum of 50% to a maximum of
100%. Experienced dealers earn 100% mark-up. Salespeople
should have a pre-determined RETAIL percentage readily
available. Lift Shield provides a positive negotiating
tool as a sale moves to closing.
WHICH CUSTOMERS SHOULD BE OFFERED LIFT SHIELD?
Every customer who purchases a machine from your
dealership, and every customer who has a machine
in your shop before the manufacturer's warranty
expires should be offered the Lift Shield warranty.
For measurable success, Lift Shield needs to become
a part of your everyday sales efforts. If consistently
offered, you will be surprised at how many customers
will purchase the Lift Shield warranty and how much
profit it can generate.
HOW COMPLICATED IS LIFT SHIELD?
It's really very simple. The cost for coverage is
calculated as a percentage of the machine's
Retail Selling Price. You see, it's easy to calculate
the cost of a coverage plan.
HOW DOES LIFT SHIELD HELP OUR SALES FORCE?
Salespeople will soon understand that many customers
will purchase an Extended Protection Plan and are
willing to pay for it. Lift Shield ties customers
to your dealership for service and pays full retail
for covered Parts and Labor, with no extra paperwork.
Priced correctly, the sale of Lift Shield can significantly
increase the overall profit margin and salesperson's
commission on a sale. It's a win/win for your customer,
your dealership, and your salespeople.
WHAT IF MY SERVICE MANAGER OR TECHNICIANS
ARE SKEPTICAL?
It's less hassle than any manufacturer's warranty.
If a mechanical breakdown occurs, fax an estimate
and we assist from there. Covered Parts & Labor
will be reimbursed at full retail, providing your
service department a full profit on any repairs
performed under Lift Shield's coverage. With a full
profit on the covered repair and prompt payment
for the claim, there is no reason to be skeptical.
COULD A DEALER JUST DO HIS OWN PROTECTION
PROGRAM?
Yes, but not without great risk. Without being able
to spread risk beyond your dealership, or knowing
how to build and adjust rates, reserve funds, write
coverage, create proper documents, and without insurance
& administrative support, it's a very risky
business. Your expertise is selling and servicing
equipment. Let Lift Shield provide a ready-made,
secure program with full administrative support
so you can make even more money at what you do best.
HOW STABLE IS LIFT SHIELD?
The Lift Shield program is underwritten by Lloyd's
of London, the oldest insurance company in the
world. All claims are guaranteed by Lloyd's.
CALL “Lift Shield” TOLL-FREE
@ (800) 655-9499.
We will be happy to answer any questions you may
have. It is important that our dealers, their sales,
service & office staffs are informed and comfortable
with the requirements and benefits of Lift Shield's
exceptional Equipment Protection Plans. We are here
to help you any way we can, whether it's with calculating
cost or selling prices, making quotes, providing
sales tips or claims administration and support.
Our goal is to help you be as successful as you
dare to be.
