Insurance for New & Used Car Dealers

General Liability For Auto Dealers

General liability insurance is designed to give you a broad, overall level of commercial insurance protection for things that you might not expect to happen. General liability includes bodily injury coverage for customers if they get hurt on your property. It also provides coverage for costumer’s property in case of damage while in your possession. General liability also provides you with financial protection if there are mistakes in your advertising, or if liability arises with the products you sell.

Business Owners Policy For Auto Dealerships

General liability is included in a more detailed commercial insurance coverage option that is ideal for small businesses like yours. A business owners policy, or BOP, provides you with specific types of protection for your tangible and intangible business assets. You can tailor the coverage options in a BOP to meet your auto dealership needs.

• Buildings and Contents – The dealership showroom and your company offices are critical to the success of your business. A BOP protects you from the loss of the actual building, outdoor assets such as your vehicle inventory, and inside assets such as the office furniture and décor.
• Business Income and Extra Expense – When disaster strikes it may cause enough damage that you are forced to conduct business in a temporary location. Sometimes you must close your dealership completely until repairs can be made. A BOP can provide for lost income and temporary extra expenses when events like this arise.
• Products and Completed Operations (Included in General Liability) – Even though you are not the manufacturer of the vehicles you sell, you can still be liable for damages or harm caused to your customers from the vehicles you sold at your dealership.
• Electronic Data – Inventory, sales data, employee contracts and customer financing information – all of these are examples of the types of critical data your dealership may keep in electronic format. A BOP protects you from the financial burden that losing these digital files can cause.
• Newly Acquired or Constructed Buildings – If you build a new showroom or buy another location to expand your business, a BOP can protect those new structures for a specified time without additional premiums.
• Employee Dishonesty Coverage – Employee dishonesty accounts for as much as $400 billion in lost annual revenue for small businesses. Dishonest actions can include theft of physical property from the premises, unauthorized use of company credit cards and computer fraud.