Auto Dealer
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Automobile Dealer Garage Insurance

Nearly every state in the country requires motor vehicle dealers to carry dealer insurance. Many states will require proof that you have a dealer insurance policy before you are issued a dealer license. In addition, you will probably be required to obtain a “Dealer Garage Insurance Policy.” A dealer garage insurance policy will protect you as you drive your vehicles back and forth from the auctions. It will also protect your customers while they are test-driving your vehicles and will protect you if someone breaks their leg on your lot. It is a garage policy since it protects your “garage” and all surrounding areas. You may have a policy on another business you own, but you must have a dealer garage insurance policy that covers customers driving your demos.

Some states only require you to hold a basic liability dealer garage insurance policy, and others will require you to carry a minimum amount of comprehensive coverage. Check with your state dealer license bureau to ensure you are carrying your state minimum requirements.

Who is Auto Dealer Insurance for?

A) Motor Vehicle Dealerships

 B) Trailer Dealerships

C) Truck Dealerships

What are the coverages under Auto Dealer Insurance?

We’ll work with you to learn about your business and help you identify the coverages that make sense for your situation. To begin, we encourage auto dealers to consider the following coverages:

A) General liability

B) Auto liability 

C) Umbrella liability

D) Products coverage 

E) Dealers’ errors and omissions (E&O)

F) Employment practices liability

G) Pollution coverage

H) Building insurance

I) Business income loss coverage

J) Crime coverage

K) Employee theft coverage

L) Cyber liability coverage

M) Workers’ compensation

How much does Auto Dealer Insurance cost?

Business insurance for auto and truck dealerships protects your business, employees, and inventory. The cost for commercial auto dealer insurance will depend upon the size of your dealership and the state you are located in, the specific risks you are exposed to, and the coverage amounts and deductibles you choose. Often, by bundling different auto dealer insurance coverage types, you can save on costs.

We can help review your risks and provide auto dealer insurance program costs for coverage that would best protect your business. Talk to us today to know more.

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