Automotive Specialty Tool will cover your tool insurance!!!

[TurboLS]

That's right, ladies and gents... But there's a catch

As some of you may know, AST has begun speaking with an awesome tool insurance provider, ProTec... We nailed down an awesome policy (w/ a cool insurance agent who is a big advocate for us), but the underwriter doesn't think that many people are interested... Let's prove them wrong! I want to make a "show of force" so to speak, by providing a list of "ready and willing" prospective policy holders to the underwriter so that the tool insurance documents can be physically written up and made available for purchase online through my site and directly on ProTec's site (by dropping the AST name during application)...

In case you don't know about the tool insurance, here's the jist of it:

Benefits

- $10,000.00 annual catastrophe limit
- up to $1,500.00 per hand tool reimbursement
- up to $2,000.00 per diagnostic equipment reimbursement (ECUs, OBD2 scanners, laptops w/ tuning software, etc.)
- You don't have to use AST once it goes live to take advantage of these rates, you just have to sign up through our site or mention our company when applying directly through ProTec.
- The tools are covered during online transactions, in person transactions, fire, flood, theft, vandalism, etc. to cover every possible scenario EXCEPT normal wear and tear. Even calibration is covered

Costs:

$100 annual premium
$50 deductible (although we're working on making it ZERO deductible)

For every 100 prospective tool lenders that like the tool insurance and are willing to put their money where their mouth is, AST will cover one lucky lender's annual premium in full (a $100 value). Those interested must be willing to:

1.) Submit a 100% refundable $10 deposit to my company paypal account: ramzi.vincent at automotivespecialtytool.net

2.) Include your complete contact info in the "message" section of the payment.

AND

3.) Be willing to pay the $90 balance once the policy is finalized (October/November 2010 timeframe)

Each winner's $10 deposit will be fully refunded and AST will arrange to pay for the winner's balance to be paid to ProTec.

If you have questions, feel free to post up here or email me directly at ramzi.vincent at automotivespecialtytool.net

For more about what we're trying to do, please check out http://www.automotivespecialtytool.net

Thanks for checking this out!

[coolhandluke]

I'l have this paid in the morning.

<= Completely on board.

[TurboLS]

Seriously??? Awesome dude! I appreciate the support.

[coolhandluke]

Payment sent!

[TurboLS]

So, as some of you may know, our insurance underwriter has decided to back out... What this means for prospective tool lenders is that we will be incorporating a deposit feature that you, the lender, can edit for each tool in your inventory. This means that prospective borrowers will pay you a refundable deposit in addition to the rental charge which you also dictate. Currently, we are working on securing another tool insurance provider, but this is our fall back solution.

Also, while the tool insurance will not cover your tools when they're in other people's possession, it will cover them wherever YOU accompany them, whether it be track events, your neighbor's garage, the Dragon, etc.... The policy rates and coverages would remain as those listed previously, i.e. $100 annual premium, $50 deductible per tool, $10k catastrophe limit, up to $1,500 / hand tool covered, & up to $2k per diagnostic tool covered...

Thanks for the interest, guys and gals!