Auto Dealers Insurance
As an independent insurance agency, we are associated with over 50 top rated insurance companies that offer the products that most appropriately meet the needs of our clients. Contact us today for a FREE quote!
Unlike a captive agency that only represents one company, we are an independent insurance agency allowing you the choice of company, policy, and pricing. Our team is staffed with proven professionals to help guide you through the quoting process. We find the coverages you need at the prices you want. Once you become a client we are committed to providing you with the quality service you expect.
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When you insure with us you have choices! Quote over 50 top rated insurance companies and choose the coverages you want and need when insuring your assets.
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We quote all of our companies to ensure we are finding you the coverage you want at the best price possible. Our team continues this effort by checking rates at each policy renewal!
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Auto Dealers Insurance
As an auto dealer, protecting your business from potential risks and liabilities is crucial for long-term success. One essential aspect of safeguarding your dealership is obtaining the right insurance coverage. Auto dealers insurance is a specialized insurance policy designed to address the unique risks associated with running an auto dealership. This comprehensive coverage offers financial protection in the event of accidents, theft, property damage, or any other unfortunate incidents that may occur on the premises. Without proper insurance, dealerships could face substantial financial losses, lawsuits, or even closure.
Auto dealers insurance usually includes various coverage types tailored to suit the specific needs of dealerships. These may include:
Liability Coverage: This protects against liability claims arising from accidents or injuries that occur on dealership property. It covers medical expenses, legal fees, and damages claimed by a third party.
Property Coverage: This safeguards your dealership’s physical assets, such as buildings, inventory, equipment, and signage, from fire, theft, vandalism, or natural disasters.
Garage Liability Coverage: This protects dealerships from claims related to operations like test drives, vehicle repairs, or service work performed on customers’ vehicles.
Dealer Plate Coverage: This type of coverage extends protection to vehicles owned by the dealership, including those allocated for test drives or loaner cars.
Auto dealers insurance differs from personal auto insurance primarily because it covers a broader range of risks associated with running a dealership. While personal auto insurance focuses on protecting individual drivers and their personal vehicles, auto dealers insurance covers an entire dealership’s assets, liability, and operations. Choosing the right insurance provider for your auto dealership requires careful consideration. Some crucial factors to bear in mind are:
Reputation and Experience: Look for insurance companies with a proven track record in the industry, as they are more likely to understand your unique needs and provide comprehensive coverage.
Customization Options: Ensure the insurance provider offers flexibility in tailoring a policy to suit your specific dealership requirements.
Customer Service: Responsive and attentive customer service is vital when dealing with complex insurance matters. Opt for an insurer known for their prompt and reliable support.
Pricing and Deductibles: Compare quotes from multiple insurance providers to find the best balance between cost and coverage. Assess deductible options and potential discounts to optimize affordability.
Keeping insurance costs manageable without compromising coverage is a common concern for auto dealers. Here are a few strategies to help achieve this balance:
Risk Management: Implementing robust safety protocols, employee training programs, and security measures can reduce the chance of accidents or theft, potentially lowering insurance premiums.
Bundle Policies: Inquire about bundling multiple coverage types, such as general liability, property, and workers’ compensation, with a single insurer. This can often lead to discounted premiums.
Deductibles: Consider choosing higher deductibles, which typically result in lower premiums. However, ensure that the deductible amount remains affordable in the event of a claim.
Risk Assessment: Regularly assess your dealership’s risk factors with your insurance provider. As your business evolves, adjustments in coverage may be necessary to address any emerging risks.
Auto dealers insurance is a critical component of protecting your dealership from various risks and liabilities. By understanding the key questions surrounding this type of insurance, you can confidently navigate the process of selecting appropriate coverage and ensure the long-term security of your auto dealership.
At Insurance Group of Minnesota LLC, our policies are tailored to meet the unique needs of each customer. We offer flexible coverage options, competitive rates, and exceptional customer service to ensure that our clients have the peace of mind they need to insure their business with confidence. Our auto dealers insurance products can provide additional insurance coverages including:
- Garage liability coverage
- Garagekeepers coverage
- Commercial general liability coverage
- Business property coverage
- Business income coverage
- Commercial auto coverage
- False pretense coverage
- Theft coverage
- Dealership physical damage coverage
- Dealership liability coverage
- Dealership pollution liability coverage
- Dealership crime coverage
- Dealership errors and omissions coverage
- Dealership employee dishonesty coverage
- Personal injury coverage
- Product liability coverage
- Workers’ compensation coverage
- Employment practices liability coverage
- Cyber liability coverage
- Hired & Non-owned liability coverage
- And more!
With countless options and so much jargon to sift through, navigating the world of insurance can be daunting. But fear not! Our team of experts is here to help you learn more about insurance and the multiple companies and products available to you. View our Blog page to read more!
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