American Guardian Warranty Services (AGWS)

Do you currently offer any powersports products? If so, which products do you offer?

American Guardian Warranty Services Inc. (AGWS) offers a variety of products for powersports through the American Powersports Plus program and Compass Marine. AGWS offers both Stated Component coverage and Exclusionary coverage for all the vehicles. Coverage offered for all the vehicles comes with a variety of terms and deductibles to fit every budget. Compass Powersports Gap and Tire & Wheel will be added to the dealer options in 2014.

How do you define powersports products – which kind of vehicles do you include?

American Guardian offers coverage for new and used vehicles such as on-road motorcycles, off-road motorcycles, scooters, ATVs, side-by-sides, personal watercraft (PWC), jet boats and snowmobiles.

Consumer spending is increasing - manufacturers such as Harley Davidson, Honda and Triumph, to name a few, are seeing improved interest in their products. The buyers that are entering the marketplace, and the ones that are trading up, all seem to understand the importance of the dealer-offered protection plans for the powersports they purchase. The development of the F&I offices in powersports dealerships is also growing, and is being seen as more of an income generating department than it has been in the past. More and more dealerships are looking for quality protection plan products to offer their customers.

Where do you see the powersports category as a whole going in 2014?

The economy will be effected by a few things, which may effect the next 12 month’s powersports market: the new countrywide health program may affect the amount of money consumers have to spend on recreational vehicles; and the ever-increasing electric powered products, including not only on-road motorcycles, but possibly side-by-side and other off-road vehicles, will affect the cost of these vehicles and possibly the sales. However, as more baby boomers reach retirement age and are looking for “toys” to spend their money on, the powersports market could see a huge increase in business. With this increase, the development of the F&I offices in powersports dealerships will also require training and product knowledge for the employees of the various protection plans, and owners will expect that training to be offered by the program partners.

Is there anything you would like to add?

AGWS has been in business for more than 15 years, and currently services more than 1 million contracts. AGWS is rated A+ by the Better Business Bureau, and all of the AGWS products are fully insured.