Insurance for Auto and Car Dealers

Insurance for Auto and Car Dealers image
No matter what size your dealership is or what types of vehicles you showcase, as a car dealer, you're exposed to unique challenges that other business owners might not face. The inventory you carry may be more expensive than that of another business. Protecting your property and resources, maintaining a safe and productive working environment, and shielding yourself against liability claims are all important and necessary goals for a car dealer. That's where car dealer insurance solutions from AmTrust Financial can help.

Auto and Car Dealers Insurance Coverage Options

There are plenty of insurance coverage options available to you as a car dealer. Although your needs will pertain to your specific operating model, common types of insurance policies for car dealers include:

• Commercial Property.
• General Liability.
Workers' Compensation. 
Cyber Liability

You may want to consider additional insurance coverage, as well, depending on your state's insurance requirements and your specific business and needs.

Covering Your Car Dealership's Property and Liability

If an unexpected disaster occurred from fire, vandalism, or theft, would your vehicles and property be covered? If a customer sued you for damage or injury, would you be protected? Especially for car dealers, the need to make extensive, unexpected repairs or pay for costly legal expenses out-of-pocket can be overwhelming. That's where commercial property and general liability insurance could kick in.

General liability insurance can be designed to protect car dealerships from a range of liability risks, including bodily injury, the damage of customer property, and claims of false advertising, copyright infringement, libel, or slander. It's important to note, however, that while general liability can protect your assets if a customer accuses you of damaging their property, your own inventory won't be covered under this policy. To properly protect your lot, including all the equipment and vehicles on it, you should secure a separate commercial property insurance policy based on your unique inventory and risks.

Workers’ Compensation Insurance for Car Dealers

With workers' compensation insurance, your car dealership can be covered against employee-related, on-the-job accidents. In other words, if an employee suffers an accident while washing one of your vehicles, he or she could receive assistance paying for medical bills, hospital visits, and drug prescriptions. Workers' compensation can shield your business from shouldering the full cost of a workers' comp claim, and even compensate an injured employee a portion of his or her lost wages so they can recover and return to work safely. Workers' comp insurance is required in most states for businesses with employees.

Safeguarding Your Car Dealership Online

If you're like most businesses today, chances are you rely on the internet in one way or another. You may use the internet to keep track of sales and inventory, accept credit cards, have customers fill out online applications, or store important information in the cloud. Cyber liability insurance can safeguard your business by helping you cover some of the costs associated with a cyberattack or data breach, risks that have only grown in frequency and severity in recent years.

How Do I Get Auto and Car Dealer Insurance?

Protecting the hard work you’ve put into your auto dealership is a top priority and having the right insurance that will safeguard your work is crucial. Get the coverage you need to keep your business thriving even in the face of uncertainties. Let AmTrust Financial help you find insurance policies and coverage limits to help keep your business safeguarded. We work alongside you to find an insurance package suited to your needs. To learn more about car dealer workers' compensation packages and other top-rated insurance products that are available through AmTrust contact us today.

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