BMW Financial Services adds GAP and tire-and-wheel coverage

Publish Date: 
Mar 13, 2012

BMW Financial Services has upped its services to motorcycle owners by introducing GAP coverage and a tire-and-wheel plan. The GAP coverage is available to not only buyers of new and used BMW motorcycles, but buyers of all brands of used motorcycles bought from BMW dealers.

The BMW Motorrad Tire & Wheel Protection plan will provide replacements should the covered BMW motorcycle’s tires or wheels suffer any road hazard damage during the plan period, which can be bought in one- to five-year increments.

The BMW Motorrad GAP (guaranteed asset protection) product protects motorcycle owners who financed their motorcycle through BMW Financial Services should their motorcycle be totaled or stolen and their insurance carrier determines its value as less than that of the loan balance.

“Our customers and dealers have asked us to provide these products to ensure every aspect of the BMW motorcycle ownership experience is as positive as we can make it,” explained Lisa McPherson, BMW Financial Services general manager of insurance. “Products like this have existed in the marketplace, but our products are designed to meet the needs of the BMW customer and BMW dealer.”

Both products are available through authorized BMW Motorrad dealers and must be secured at the same time the motorcycle is purchased.

BMW asserts that replacement — never repair — constitutes a key part of the Motorrad Tire & Wheel Protection Product, with OEM or OEM-approved parts installed when the originals are damaged due to road hazards, including glass, metal, potholes, debris, nails, blowouts, etc.

“Road hazards are everywhere, regardless of topography and climate,” McPherson said. “Now a BMW motorcyclist can ride out of the dealership secure in knowing regardless of the obstacles he or she might encounter, should something happen to a relatively expensive wheel and/or tire, a BMW-specific replacement is fully covered at no additional expense.

“Unfortunately, road hazards are a fact of life, and wheels and tires take the brunt of them,” she continued. “This program provides just the kind of protection our customers want.”

Within the maximum $25,000 claim allowed, GAP is up to $1,000 of the customer’s primary insurance deductible. The coverage is available on both used and new motorcycles.

“We are going even one step further than the competition by offering our GAP coverage to non-BMW motorcycle buyers when they purchase their rides through one of our authorized dealers,” said McPherson. “Again, this product is about the BMW ownership experience, and we want to help our dealers provide it to all of their customers.”

BMW press release posted by Arlo Redwine

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