Whether you sell vehicles or equipment, are a franchise or independent, or specialize in used or new products, your dealership needs an insurance policy that fits its specific needs. It’s all too easy to overlook some of the risks for which you need protection.
You don’t just need to think about insurance for your premises and stock. You also need to explore whether you face any risks of lawsuits if people suffer injuries or damage from using the equipment or vehicles you sell. If you’re dealing with new goods, you may need to protect yourself against the risks of having to recall a particular model.
This helps protect against damage to the visitor’s car, including theft or vandalism. For example, if visitors leave their own vehicle on your premises while taking a prospective new vehicle for a test drive or while negotiating a trade-in, you may be legally required to have garagekeepers coverage.
This may help cover the cost of defense if your dealership is sued, and may also help pay for damages that may be awarded to another party. Policies might also cover a range of errors and omissions situations such as title errors, violations of credit or leasing laws, and allegations of negligence in recording a used vehicle’s history.
Don’t forget to make sure your insurance covers more general business elements such as personal liability for visitors to your premises, workers’ compensation for staff, and employment practice liability insurance to cover your business against discrimination claims and other human resources risks.
To find out more about dealership insurance, contact us to go over your business needs and coverage options.
6851 NE Loop 820, Suite 220
North Richland Hills, TX 76180
6851 NE Loop 820, Suite 220
North Richland Hills, TX 76180
At Lone Star BEST Insurance, we know that choosing an insurance plan can feel overwhelming. Our mission is to help you feel comfortable and knowledgeable and to help you find plans that meet your needs!
We are licensed in Texas, Arizona and New Mexico.
