Flexible Insurance for Exporters
Recently, we have heard from dealers and exporters seeking flexible, affordable insurance coverage for the vehicles they export. When we looked at what was available in the market, it became clear that the needs of exporters were not being met. Existing insurance options were often cost-prohibitive, or they provided good coverage on the Canadian side and weak coverage on the US side or vice versa.
With the Signal platform and our ability to aggregate vehicle volume, we were able to go to market and negotiate very favorable terms from a global insurance provider. The new Export Insurance Program will finally allow exporters to have the comprehensive, affordable insurance coverage—and peace of mind—they deserve.
Here are some highlights:
- Full coverage for all your export inventory from point of purchase in Canada to point of sale in the US. For example, if you buy a vehicle at auction in Toronto and sell it at an auction in Flint, the vehicle is covered for that entire cycle.
- Per unit insurance that flexes with your volume. Our program scales up or down with your business volume and inventory, meaning you only pay for what you need.
- Seamless processing. Insurance is integrated into Signal Export—as soon as you enter a vehicle as purchased, it will be insured. A Certificate of Insurance (COI) will be issued for every covered vehicle.
- Extremely competitive rates. Our per-vehicle rates are less than half of the rates offered by competitors. For example, a vehicle with a US wholesale value of $40,000, the cost would be $100 for 60 days of coverage. The deductible would be $2,000 with virtually no exclusions.
The Export Insurance Program launched September 1st, 2023.
Sign up today and save money on your next export!
Read similar articles
With the used vehicle market softening after years of record highs, importers and dealers alike are having to adapt to new challenges. This blog article highlights best practices for Importers to take advantage of to make a profit.