An auto dealership is just like any other business with liabilities, risk of damage, and the threat of theft and you want to have auto dealership insurance. Imagine that you get a call late one night and hear a police officer tell you on the other end of the line that a car has been stolen off of your lot. Without having an insurance policy to protect you, you have to absorb the cost of that vehicle, eating into your overall profits. However an insurance policy covers that vehicle and keeps you from being victimized twice.
Auto dealership insurance not only insures your vehicles in the case of theft, but it also covers them in the case of any damage occurring. Accidents have happened while a potential buyer is driving a dealership’s car and the dealer insurance reimburses the dealership for any scratches, dents or even physical injuries. It will also provide payments to the other vehicle in the accident if the fault is to be found with your client.
There are many options available when you sign up for auto dealership insurance and it is important to discuss these options in detail with the insurance agent to make sure that you are adequately covered. These options include collision, garage, property, workers’ compensation, general liability, auto inventory, and more. By talking with your agent, you can create a customized plan that will keep your auto dealership protected in any situation.