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Dealership Insurance

Unique protection no matter what you sell.

Dealership Insurance customized for your business needs

The risks associated with owning a dealership are diverse, no matter what you sell. From workers' compensation to coverage for customers' vehicles, we'll help you navigate the complexities and design a policy that keeps your business running smoothly.

Did you know that 40% of small businesses are likely to file an insurance claim in the next 10 years? As a dealership owner, you’re not immune. That’s where dealership insurance comes in.

It’s your safety net, protecting you from damages to your property, inventory, and potential liabilities. You’ll even have coverage for test drives and trade-ins.

Let’s dive into the importance of dealership insurance, managing risks, and choosing the right coverage.

Importance and Coverage

You’ve got to understand the importance of dealership insurance. It not only protects against potential damages to your building and inventory, but also covers a wide range of risks associated with dealership operations. When misfortunes occur, like theft, vandalism, or even liability claims from accidents, you’ll be thankful for this safety net.

It’s more than just a policy; it’s your protection against financial jeopardy.

Dealership insurance also includes specific coverages. For example, garagekeepers’ coverage for vehicles left on your premises is a legal obligation that keeps your customers’ cars secure during test drives or trade-ins. Additionally, it covers personal liability for visitors and workers’ compensation for your staff.

Risk Management

In managing risks, it’s crucial to understand the various threats your car selling business might face, and how the right coverage can help mitigate those risks. The right dealership insurance can shield you from financial perils like property damage, theft, vandalism, and customer injury.

It’s not just about physical assets; it includes liabilities from your service department, staff injuries, and discrimination claims.

You’re required to have garagekeepers coverage for vehicles left in your care during business operations. This coverage kicks in during instances like test drives and trade-in negotiations.

Choosing the Right Coverage

Choosing the right coverage isn’t just about meeting legal requirements; it’s about safeguarding your business from potential risks and ensuring its long-term success. You need to consider the unique exposures related to dealership operations.

This includes potential financial jeopardy from accidents or errors, and liability for parts and service departments. Also, don’t overlook garagekeepers coverage; it’s not optional if your dealership keeps customer vehicles on premises. It’s your legal obligation and it protects against damage, theft, or vandalism that may occur during test drives or trade-in negotiations.

Furthermore, your dealership insurance should cover general business elements such as personal liability for visitors, workers compensation for staff, and protection against discrimination claims. Remember, choosing the right insurance is crucial to your dealership’s success.

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