Dealer insurance, also known as auto dealer liability insurance, is the basic level of coverage a used car dealership must carry. The burden of financial responsibility rests on the dealer for all of their vehicles until the driver takes them off the car lot. Auto dealers understand that accidents happen, and they can occur when they’re least expected. Liability is meant to protect the business from financial ruin while helping owners maintain peace of mind.
Used Car Dealership Liability Insurance
On top of keeping abreast of employee productivity, customer service, advertising, and inventory, a dealer owner has to keep an adequate amount of auto dealer liability insurance. Broad commercial insurance protection falls general policy which includes bodily injury coverage in the case a customer gets hurt on the dealership property. It should also cover damage done to a customer’s property when in the possession of the dealership.
Auto Dealership Insurance Specifics
The ‘Products and Completed Operations’ section of a general liability policy is one of the most interesting parts of a policy and one to which an auto dealer ought to pay close attention. This is worth examining closely because although a used car dealer did not manufacture the products they sell, they can be held liable for harm caused by a vehicle.
Insurance costs vary according to dealer size, vehicle type, and location. Because of this, dealers need a tailored policy. Visit Auto Dealership Insurance for inclusive general liability plans that fit like a glove.
