Credit Life Insurance
Given the fact that boating is such a family oriented pastime, we feel that one of the most valuable insurance options for you to have as a buyer is Credit Life Insurance. Though many of our customers are not sure of the benefit to them, we feel it is an important aspect to any large purchase. Put simply credit life insurance is insurance to protect your loved ones from taking on your personal debt while dealing with family loss. In the event that the loan holder were to lose his/her life during the term of financing, the insured part of the loan would be paid off and the family would get uninterrupted use/ownership of your investment.
Accident & Health Insurance
At Buckeye we feel that it wouldn't be right to sell you a boat without giving you options. We are proud to offer you accident and health insurance. Many people ask "what is accident and health insurance?" Briefly, it is part of a financial management plan that is designed to pay obligations during a time of the accident or a period of poor health. We offer you insurance to protect your family and your credit because we know that 38% of all bank repossessions are caused by injury or health related disabilities. While most people have coverage through their employer, it is often insufficient to cover their responsibilities. Another important point to note is that you don't have to pay tax on insurance money collected.
Critical Illness Insurance
Many people have heard of critical illness insurance but are unaware of what it is. Critical illness insurance works with life, accident and health insurance to provide complete credit insurance. It is designed to provide the insured a lump sum benefit if he/she is diagnosed with a covered illness and survives 30 days. With the debt paid off, the insured can redirect the funds that would have been used for payments to their recovery, lifestyle adaptation and/or a much-needed vacation.
Extended warranty is another great way to help protect your investment. This becomes apparent in the event that you have a breakdown in the third year of use. If you have not purchased extended warranty, you will be responsible for covering the total cost of the repairs. However, for much less money than a major repair, you can purchase extended warranty which covers your engine after the manufacturer's warranty runs out. It is also important to note that extended warranty covers the use of genuine parts and labour performed by factory trained technicians. Another upside is that your extended warranty can be transferred, increasing the resale value of your craft. There is a reason extended warranty is so popular with Canadian boaters. Extended warranty has proven especially beneficial to us in the northern climate because on average it takes us twice as long to incur equal use to that of southern boaters who use their boat year round. (Where it typically takes Florida boaters two years to hit average use it takes Canadians four). Due to the fact that the majority of boat sales occur in southern climates, manufacturers stick to a 2-3 year warranty time frame. When Canadian boaters do the math, traditional warranties only protect them for half of their average use. Therefore, you can put your mind at ease by purchasing extended warranty.