Westlake Financial Services has launched the Spot Delivery Insurance program, underwritten by Knight Management Insurance Services, LLC, for its dealer partners in California. Westlake’s new Spot Insurance program is designed to provide auto dealers short term insurance on the vehicle they have delivered to their customer during the funding process.
Spot insurance gives auto dealers immediate vehicle coverage, eliminating the concern when a customer’s insurance cannot be verified at the time of purchase. Spot Insurance offers temporary, flexible point of sale policies available for 7- or 14-day coverage designed to benefit dealerships and their customers.
Every Spot policy comes bodily injury, property damage, medical payments, comprehensive & collision cpverage. Dealers also have the option to purchase uninsured/underinsured motorist. Spot insurance is available in California through DealerCenter.
Westlake Technology Holdings is an auto and finance technology company headquartered in Los Angeles with approximately $6.5 billion in assets under management. Westlake Financial Services originates indirect automotive retail installment contracts through a nationwide network of new and used automotive and powersports dealers. Westlake also offers loan portfolio purchasing, credit facilities and portfolio servicing through their ALPS division (Advanced Lending & Portfolio Services).
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