SAN FRANCISCO – September, 2012 – A new type of extended service program is now available for bikes. Ride It Daily Extended Service (RIDES) is offering its extended service program to consumers through participating dealers to cover repair, replacement and maintenance, regardless of whether a cyclist has a $100 kids bike or a $10,000 tri bike.
RIDES was developed by cycling enthusiast Frank McMillan, whose career in insurance underwriting led to him to ask why extended service plans weren’t available for bikes.
“I’ve had a some problems with my bikes that were more than inconvenient to resolve, especially after warranties ran out,” said Frank McMillan, founder of RIDES and Director of Business Development for Starr Indemnity & Liability Company. “Parts had to be sent back to manufacturers, claim decisions had to be made and replacement parts sent back to be installed. All that kept me off my bike for quite a while. RIDES plans will help riders avoid all that.”
RIDES’ plans are tiered, 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, offers 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.
“Saving money is one aspect. Consumers typically save 95 percent on repairs and maintenance using extended service programs, but the biggest benefits are they save time and are very convenient,’ McMillan said. “All the repairs and replacements are handled by your local bicycle retailer with no questions asked, who also under the plan performs a free annual tune up on bikes more than $500 to keep your bike tuned and true.”
The program is backed by Starr Indemnity & Liability Company and administered by Global Warranty Group, both of which are established leaders in their fields.
RIDES is launching the new program to dealer at Interbike, one of the industry’s largest trade shows, this month. Consumers will be able to purchase RIDES extended warranty plans from participating dealers soon.
More information about RIDES can be found at the company’s website, dealers.
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.
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.
About Global Warranty Group