Locking Down Protection for Auto Dealerships
Owning and operating an auto dealership is no easy task, and keeping up with your competitors while protecting your assets and business can be difficult at times. With a wide variety of valuable and vulnerable inventory, it can be difficult to cover all aspects of your business properly. Auto dealer insurance is important to help you protect all the hard work and money you have put into your business.
Comprehensive auto dealer insurance is key to ensuring your investments and auto dealership are protected. Contact King Insurance Partners today to determine what kind of coverage your auto dealership needs and receive a free, no-obligation quote.
What Is Auto Dealer Insurance?
With all the various liabilities your business might face, it is vital to protect your assets and investments. Auto dealer insurance offers comprehensive business solutions to auto dealers to help protect the financial interest of your business. No matter the size of your dealership, King Insurance Partners provides a wide variety of available options and plans to tailor to your auto dealership.
What Types Of Insurance Policies Do I Need As An Auto Dealer?
Every auto dealership is unique, which means that each insurance policy will be unique to fit the size of your dealership, the state you operate in, the number of employees you have, and your financial capability. Below, we have listed a couple of common insurance policies that are applicable to auto dealers.
Commercial General Liability
A commercial general liability policy is often the foundation of insurance programs for commercial owners. For example, a commercial general liability policy is used to protect auto dealership owners in the case that something goes wrong on your property, such as a slip and fall incident.
Business income insurance provides coverage in the event that your auto dealership falls victim to a natural or man-made disaster. This insurance policy is put in place to help ensure that your business will be able to continue doing business even after such an event. While your business is recovering from a calamity, business income insurance can help you cover loss of income, payroll expenses, and other expenses during any possible renovations.
Garage Keeper Liability
While garage keeper liability insurance is optional, it can be an essential part of protecting your auto dealership. In the unfortunate event that a customer’s vehicle is damaged under your care, custody, possession, or control, garage keeper liability insurance can pay for any claims. This also covers any fire damage, theft, vandalism, extreme weather, and collision damages that might happen at your auto dealership.
Garage liability insurance is often interchangeable with garage keeper liability and offers coverage for any bodily injuries or property damage that happened in an accident on your property. This type of insurance combines general liability, commercial auto insurance, and legal liability coverage into a single policy.
Do I Need Auto Dealer Insurance?
When it comes to owning an auto dealership, they are often at high risk and exposed to many liability costs and financial obligations that can put your business in danger. Auto dealer insurance is put in place to protect you if the worst happens, such as someone breaking into your showroom and stealing one of your most expensive cars. No matter the size of your dealership or the cars that you showcase, auto dealer insurance can protect you from the unique challenges that your auto dealership may face.
How Much Does Auto Dealer Insurance Cost?
When it comes to the cost of auto dealer insurance, this is often based on several factors, including the location of the dealership, number of dealer tags, driving record, and current number of employees. In addition to these factors, the cost also depends on the number of policies and add-ons that you would like to include in your plan. Reach out to King Insurance Partners today to discuss your specific needs and concerns with one of our trusted agents to get your auto dealership the coverage it needs.
Contact Our Insurance Agents Today
If you are interested in learning more about our auto dealer coverage and other available commercial auto insurance, contact our insurance agency to speak to one of our experienced insurance agents!
At King Insurance Partners, we’re proud to provide auto dealer insurance in Gainesville, Ocala, Tampa, Orlando, Daytona Beach, and Jacksonville, FL. We’re licensed to serve clients in a selection of states, including Alabama, Florida, Georgia, New Jersey, New York, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia.