National Auto Care's CEO Tony Wanderon recently shared his expert opinion with P&A Magazine as the industry publication examined how services like Uber and Lyft may be impacting our industry.
According to the article, Wanderon's chief concern is the enhanced likelihood of a claim arising within the first two or three years of ownership, which is traditionally considered a low-risk period for new vehicles.
"If they drive more than 25,000 miles per year, they come into risk fast, and you're not going to have the earnings to pay the claims. ... When you get a higher loss upfront, you want to make rate adjustments, but you don't really understand the risk you're taking on at this point."
National Auto Care Corp. provides F&I products, administration, consulting services, training and marketing support to independent agents, insurance companies, financial institutions, third-party administrators, and credit unions. National Auto Care Corp. focuses on increasing agent and dealer profitability by providing unique F&I products in protected markets. National Auto Care was named a 2017 Top Workplace in Central Ohio, and honored with a Dealer’s Choice Gold Award for F&I Products.