If you run an auto dealership, it is important that you make sure you have a good risk management strategy in place.  A large part of any good risk management strategy is the right insurance coverage.  Insurance can protect you from a variety of financial damages and is vital if you want to be prepared for even the worst-case scenario.  

What Types Of Insurance Do You Need For Your Auto Dealership?

There are several types of insurance you should have if you run an auto dealership.  First, you want to make sure you’re covered in terms of liability.  A good general liability insurance policy should suffice but some opt for professional liability insurance as well.  In terms of other types of insurance, you should also make sure you have auto dealership workers comp if you have any employees, as well as property coverage for both your physical store/lot and the vehicles on your property.

How Much Does Auto Dealership Insurance Cost?

Unfortunately, the cost of auto dealership insurance can vary widely.  This is because insurance providers take many different factors into account when determining your risk level, and in turn the price you’ll pay them for coverage.  Some of the things considered are:

  • Your claim history
  • Your location
  • Your business’s value
  • The number of employees you have

Running an auto dealership is not a risk-free endeavor.  Auto dealership insurance can help.