Auto Dealer Insurance

Car dealers need insurance to protect themselves from liability and major financial loss. However, obtaining a policy can be difficult and time-consuming. Before you buy a policy for your dealership, it is important to review it carefully. Check the coverage, rates, and premiums. Many insurers offer discounts for businesses that follow a strict test-drive route. By ensuring that your employees follow the route as laid out by your insurer, you can reduce your risk of an accident. ohio auto insurance quotes

In addition, auto dealer insurance policies should include an “aggregate limit.” This limits are the maximum amount that most insurers will pay for covered losses during a particular period. These limits will be helpful in cases when a dealership experiences storm damage or a large loss. In such cases, the dealer can claim that the policy covers a variety of situations and can protect itself from liability lawsuits.

Auto dealership insurance varies by state and business size. Some states require auto dealers to carry worker’s compensation coverage. This coverage pays for medical expenses, legal defense costs, and even property damage. Having these coverages is an important way to protect your company assets. It will ensure that your employees are properly cared for and can work safely.

In addition to this, a dealer needs insurance to protect himself from unforeseen events. These risks can include physical damage to customer’s vehicles, stockroom fire damage, and penalties for not following insurance regulations.