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SMT unveils new repair coverage plans

Secured Marine Transactions introduced a new series of extended plans covering repairs of propulsion systems and accessories on new and pre-owned boats.

SMT offers a wide range of packages tailored to suit the specific requirements of different sizes and types of boats. Engine coverage plans include outboards, stern drives, inboards, diesels and personal watercraft. Accessory packages include trophy fishing, ski boats, runabouts, navigation electronics, trailers and cruisers.

New-boat service plans offer terms up to eight years, including the manufacturer’s warranty. Preowned boat plans offer terms of 12, 24 or 36 months for qualifying products up to 10 prior model years. Participating service dealers and boatyards are reimbursed for parts and labor, with claim payments made directly to the repair facility.

Boat owners can purchase the service plans through a participating dealer or broker when buying a new or used boat, or online through the Boats.com, YachtWorld.com and SMT Web sites.

The SMT extended service plans are administered through an agreement with FPC Premium Marine Protection, a Protective Life Insurance company.

Branford, Conn.-based Secured Marine Transactions, a division of Secured Marine Trust, LLC, is a global marine financial services and data management company that provides an online management system for expediting and administering vessel sale transactions.

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