A new type of extended service program for bikes designed to benefit retailers by creating happy customers and increased revenue will debut at next week's Interbike trade show in Las Vegas.
Ride It Daily Extended Service (RIDES) is an extended service program retailers can offer customers providing guaranteed repair, replacement and maintenance, regardless of whether a consumer is buying a $100 kids bike or a $10,000 tri bike.
RIDES was developed by cycling enthusiast Frank McMillan, whose career in insurance underwriting led him to ask why the cycling industry didn't have an easy-to-use warranty program that protected customers and benefited shops.
The program is backed by Starr Indemnity & Liability Company and administered by Global Warranty Group, both of which are established leaders in their fields.
“Providing a simple, cost-effective extended service program for customers is a huge benefit to shops that sell them, as well as consumers who purchase them” McMillan said. “RIDES creates an environment where customers know their investment is protected, and shops are able to increase retention and revenue because their customers will come back through their door for service, new purchases and maintenance.”
The RIDES program has a tiered structure, so bicycles retailing for less than $100 are replaced, those between $100 and $500 are repaired and those costing more than $500 are covered for both repair and routine maintenance.
Plans are available for one- or two-year periods, offer repair or replacement on all frames and components, except consumables like tires and tubes, and begin at the end of the manufacturers' warranty. Depending on the chosen plan, fees range from $7.49 to $2,200, and consumers can purchase a plan up to 30 days before their manufacturers warranty expires.
Retailers benefit by additional revenue and profits through selling the packages and through full reimbursement by RIDES for parts and labor on all repairs, and labor for annual maintenance, and consumers benefit with an extended service period for their bike.
“RIDES shows customers that your store believes in offering the best possible service program and nobody has to deal with confusing exclusions and fine print, because the plan is straightforward and covers virtually anything that could ever go wrong with a bike,” McMillan said.
To learn more about RIDES, retailers can visit the company's booth at Interbike (#36071). Retailers can also find information at dealers.RideItDailyExtendedService.com, or contact Frank McMillan at frank.mcmillan@starrcompanies.com or 415.309.6586.
About RIDES
Ride It Daily Extended Service provides bicycle retailers and customers with an extended service program to protect cyclists' investments and benefit the shops that made the sale. Backed by some of the most respected insurance and warranty providers in the world, RIDES give retailers a straightforward, easy-to-navigate warranty program without mountains of fine print or confusing exclusions that compensates shops at their normal rates. For more information, visit dealers.RideItDailyExtendedService.com.
About Starr Companies
Starr is a leading insurance and investment organization with a presence on five continents. Through its operating insurance companies, Starr provides property, casualty, and accident & health insurance products as well as a range of specialty coverages including aviation, marine, energy and excess casualty insurance.
For more information visit us at www.starrcompanies.com.
About Global Warranty Group
Global Warranty Group LLC is a leading developer and administrator of product warranty and extended service contract programs to many industries throughout the United States and Canada. The Company maintains a state of the art call and customer support center and an extensive network of over 25,000 servicers providing in-home service, carry-in service and depot repair. For more information, please visit
www.globalwarrantygroup.com or call 1-877-681-8244.
