And as I said - REIDMAN - a RAM DEALER - SOLD ME THE SAME POLICY AT THE NON-FLORIDA PRICE. THEY HAVE THE BEST PRICE - PERIOD. Ziegler is a RAM DEALERSHIP (and Jeep, Ford and a couple of others) - that also markets extended warranties as a PROFIT CENTER. Reidman BEAT THE NON-FLORIDA QUOTE ALSO.
And as I've also said - I CALLED THE STATE INSURANCE COMMISSIONER'S OFFICE when this whole Florida "regulation thing" started. They REGULATE THE INDUSTRY BY LICENSING - to make sure people ARE NOT SELLING BOGUS POLICIES. EXTENDED WARRANTIES ARE IN FACT - INSURANCE.
THEY
DO
NOT
REGULATE
PRICING...
Therefore - there is NO LEGAL REASON WHY FLORIDA POLICIES COST MORE. I don't care ON WHIT what any dealer say. Call the
Florida State Insurance Commissioner's Office - and ask for yourself. Yes - I'M YELLING - because I've said this OVER AND OVER AGAIN - and no one seems to GET IT.
Rick
1. Are you sure you purchased an FCA Mopar Maximum Care Plan and not some other service contract? If so please provide us with the website or phone number of "Reidman"
2. The state does not set the price they just require everyone pays the same price.
The relevant Florida law is The 2016 Florida Statutes Title XXXVII INSURANCE Chapter 634
It says three key things
1 ) Extended warranties are insurance
2 ) Only FL licensed brokers can sell policies in Florida
3 ) When you sell a policy the seller's profit is called a COMMISSION and if a seller REBATES any part of their COMMISSION to one customer they must post prominently the REBATE amount and offer the same REBATE to every customer.
Hence they can not negotiate on an individual basis like they can when they sell the car. In any other context such anti competitive rules would be price fixing and restraint of trade.
Here are the main points
License Required
A service warranty association providing or offering service warranties to residents of this state must be licensed by the Office of Insurance Regulation (OIR). A service warranty association located in Florida is exempt from the licensing requirements as long as the service warranties are only sold and marketed to nonresidents of this state. However, there are certain reporting requirements to the OIR. For a complete review of these requirements, please review Section 634.403, Florida Statutes.
Fixed Price for all intents and purposes
634.1815 Rebating; when allowed.—
( 1 ) No salesperson shall rebate any portion of his or her commission except as follows:
( a ) The rebate shall be available to all consumers in the same actuarial class.
( b ) The rebate shall be in accordance with a rebating schedule filed with and approved by the service agreement company issuing the service agreement to which the rebate applies. The service agreement company shall maintain a copy of all rebating schedules for a period of 3 years.
( c ) The rebating schedule shall be uniformly applied so all consumers who purchase the same service agreement through the salesperson for the same coverage shall receive the same percentage rebate.
( d ) The rebate schedule shall be prominently displayed in public view in the salesperson’s place of business, and a copy shall be made available to consumers on request at no charge.
( e ) The age, sex, place of residence, race, nationality, ethnic origin, marital status, or occupation of the consumer shall not be used in determining the percentage of the rebate or whether a rebate is available.
( 2 ) No rebate shall be withheld or limited in amount based on factors which are unfairly discriminatory.
( 3 ) No rebate shall be given which is not reflected on the rebate schedule.
( 4 ) No rebate shall be refused or granted based upon the purchase of or failure to purchase collateral business.