SPOT Policies by Knight Insurance

IN THIS ARTICLE:

1. Why do I need SPOT?
2. What does a SPOT policy do for me?
3. What is covered?
4. How long am I covered?
5. How do I purchase SPOT?
6. Where do I find a list of all SPOT polices/certificates previously purchased?
7. What is the cost?
8. Why don’t I have the option to add SPOT to some deals?
9. Are there any exclusions?
10. What is the claims process?
11. Who do I contact with questions?

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Why do I need SPOT?

Point of Sale (SPOT) policies instantly provide vehicle dealerships 7-day coverage that satisfies California State auto liability insurance requirements. SPOT policies ensure the dealership’s interest in the vehicle as it leaves the lot and the loan is still being processed. Immediate binding of coverage through the DealerCenter platform means there are no delays in vehicle sales due to having to confirm customer personal auto coverage. Policy documents can be issued on the spot.

 

What does a SPOT policy do for me?

SPOT policies instantly provide short-term comprehensive and collision coverage for your vehicle, Medical Payments and Uninsured Motorist coverage for your customer, and bodily injury and property damage coverage for any third-party, meaning you can rest assured you’re fully covered if your vehicle is in an accident.

 

What is covered?

SPOT provides the 6 types of coverages below. You have the option of choosing the uninsured motorist coverage.

 

How long am I covered?

Secure 7 days of immediate coverage, which starts as the customer leaves the lot, allowing time for the vehicle owner to arrange their insurance.

 

How do I purchase SPOT?

You can add SPOT Insurance directly from the main side menu by going to 'Deal' on the main side menu, then selecting the “Add Spot” option:

Another option is from within your deal:

SPOT can be purchased directly from the Deal Page in DealerCenter. Just look for the option labeled "Insurance/ GAP/ VSI" to start the process. This is available after you've completed the initial application for your dealership. With this setup, you can easily add SPOT to any deal funded by Westlake Financial Services.

Here's how to add SPOT to your deals, from Deal Page:

1. On the ‘Insurance/ GAP/ VSI’ field, choose more options (click the 3 dots), then select the SPOT button.
2. Complete your dealership’s initial application if you haven't already. Please Note: The first time you select the SPOT button, the following pop-up with request you to fill the following details to generate a master policy for the dealership as seen in the screenshot below:
3. Print you Master Dealer Policy:
4. This completes the Dealer’s signup process! There is no cost to sign up.
5. Once approved, you can add SPOT to all eligible deals. On the Deal Page, simply select SPOT button under the 'Insurance/ GAP/ VSI’ field. The SPOT Program window will appear. Complete the form with the Customer Info, Vehicle Info and choose the desired coverage.
6. Enter your payment information:
7. Print your documents:

 

Where do I find a list of all SPOT polices/certificates previously purchased?

A full inventory of all SPOT certificates purchased can be accessed by going to 'Deal' on the main side menu, then selecting the “Spot Certificates” option:

 

What is the cost?

• $120 without Uninsured Motorist coverage
• $130 with Uninsured Motorist Coverage up
  • Bodily Injury $15,000 / Person and $30,000 / Occurrence
  • Property Damage $5,000

Vehicles with Actual Cash Value greater than $40,001 will incur an additional $3 per day rate.

 

Why don’t I have the option to add SPOT to some deals?

SPOT coverage is only available on Westlake Financial Services funded deals for California Westlake Dealerships with an A or B rating.

 

Are there any exclusions?

Vehicles with an Actual Cash Value greater than $75,000 are ineligible for this coverage.

 

What is the claim process?

To start a claim contact Knight Management Insurance services at 888-333-8198 or visit https://www.knightinsurancegroup.com/claims/

 

Who do I contact with questions?

For questions regarding your SPOT Policy (Coverages, Claims, etc):

• Knight Management Insurance Services 1-888-333-8198 | SPOT@knightcompany.com

For questions regarding DealerCenter (Issues with credit card payment, trouble printing documents, system errors, etc.):

• DealerCenter Support 1-888-669-2669 | support@DealerCenter.com