Car Dealership Insurance

Car dealerships face unique risks and need specific types of insurance to help provide financial protection. When unexpected accidents and incidents happen on and off company property, having appropriate insurance can help protect against financial stress.  

Contact Insurance Agencies Inc with offices in Northfield and Berlin, New Jersey, today to build a business insurance package designed to meet your dealership’s needs.  

What Is Auto Dealership Insurance? 
A car dealership has many moving parts. With great opportunity for financial success comes certain risks that can be addressed with proper business insurance. Auto dealership insurance policies tailored to your organization can help provide valuable financial protection from the everyday risks your company faces.  

What Types of Insurance Does a Car Dealership Need? 
Your agent may recommend several business insurance policies, depending on your dealership’s situation, including: 

• Commercial property insurance helps pay for damage to your company’s property due to vandalism, hail, theft, fire or storm damage. 
• General liability insurance helps pay for third-party property damage, injury claims, and lawsuits alleging misleading advertisements, slander, copyright infringement, and libel.
• Garage keeper’s liability insurance helps pay for damage to or theft of customer property while in your care.
• Garage liability insurance, often used by franchised auto dealers, helps cover bodily injury or property damage caused by an accident occurring on the dealership’s property.
• Uninsured/underinsured motorist coverage helps pay for damage to your company’s vehicles and the vehicles on your lot if a driver without proper insurance coverage is at fault in a damage-causing accident.
• Business interruption insurance helps cover business costs if your dealership must close to allow for covered repairs after an accident or incident.
• Dealer’s open lot insurance helps cover damage to the cars for sale on your dealership’s lot.
• Workers’ compensation insurance, which is required in New Jersey, helps cover medical expenses and lost wages if a dealership employee is injured or becomes ill in a work-related incident. 

What Is Dealers Open Lot (DOL) Coverage? 
Dealers open lot (DOL) coverage, also called dealers physical damage coverage, helps protect against physical damage to any vehicle held in your dealership’s inventory. There are four basic protection levels available: 

• Unprotected lots
• Nonstandard protection
• Standard protection
• Building protection 

Talk with your agent to understand if this coverage may be a good fit for your dealership.  

Get the Business Insurance Your Car Dealership Needs 
Your insurance needs are unique to your dealership. Contact Insurance Agencies, Inc. today to get a personalized quote. 

 

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