• Auto Dealership Physical Damage Coverage
• Equipment Breakdown Coverage
Running an auto dealership can be a profitable endeavor, but these businesses are exposed to a variety of risks. New & used auto dealer insurance can help protect Vermont dealerships from many of the property and liability risks they face.
New & used auto dealer insurance is a specialized commercial insurance that’s tailored to meet the needs of dealerships. Because dealerships face multiple risks, most of these policies come as package policies that have multiple coverages within them. Dealerships can usually choose the exact combination of coverages that they want in their policy.
Vermont automotive dealerships generally need auto dealer insurance. This includes both new dealerships and used ones, and similar policies typically can meet the needs of both. Moreover, insurance is normally needed regardless of whether a dealership has passenger, recreational or commercial vehicles.
Not insuring a dealership at least leaves it exposed to potentially costly risks. It could also leave the dealership exposed to potential legal consequences.
The exact coverages found in auto dealer insurance policies can vary, but there are a number of property and liability protections that policies frequently offer. Property coverages primarily protect assets that a business has, while liability coverages are mainly for instances where a business might cause injury or damage to another party.
The property coverages that a policy will likely make available are:
The liability coverages that a policy will probably have available include:
Still other coverages are available. An insurance agent who specializes in these policies can guide dealerships through all of their coverage options.
Our business was with the same trusted agent for over 20 years. Mike Bancroft offered to evaluate our policies and see if he could save us some money on both Workmen's Comp and general liability. He did, and in the process even moved us to better coverage. Mike also offers a superb quality of service. Cannot recommend highly enough.
Mike Bancroft has been great to work with. He has assisted with my Business Auto, Tool Coverage, Homeowners and all other types of insurance needs. I wouldn't be surprised if they change their name to Paige, Campbell & Bancroft soon!
Extremely prompt, personable, and professional service! Despite only needing a workers' comp policy for one employee, Paige & Campbell was very receptive and ensured to shop my policy around to ensure I received a great price that was almost half of what another broker quoted me.
Dealership plate coverage normally insures vehicles that are in inventory and have temporary license plates. The coverage will usually protect the inventory vehicle and people in the vehicle if there’s an accident. Some policies also extend coverage to third-party claims arising from such accidents.
Because coverages terms and conditions vary, dealerships should carefully review a policy’s dealer plate coverage with an informed insurance agent to confirm what protections the policy affords.
Vermont automotive dealerships are normally required to carry a $25,00 to $35,000 bond by state law, with the precise amount being dependent upon a dealership’s sales and inventory.
Auto dealer policies usually don’t include bonds within a policy itself, but many insurance companies that offer these policies also sell bonds. An insurance agent who’s familiar with auto dealer policies should be able to assist with purchasing a bond as well.
For help comparing new & used auto dealer insurance quotes, contact Paige & Campbell Insurance. Our independent Vermont agents can help you compare policies from different insurers, and we have the expertise needed to help you choose the best policy for your dealership.
Barre
P.O. Box 469
297 North Main Street
Barre, VT 05641
(802) 476-6631
Bradford
P.O. Box 392
25 North Main Street
Bradford, VT
(802) 222-5222
Waitsfield
5197 Main Street, Suite 3
Waitsfield, VT 05673
(802) 496-3118
This material is for informational purposes only. All statements herein are subject to the provisions, exclusions and conditions of the applicable policy, state and federal laws. For an actual description of coverage, terms and conditions, please refer to the applicable insurance policy or check with your insurance professional. The illustrations, instructions and principles contained in the material are general in scope and, to the best of our knowledge, current at the time of publication.
Mike Bancroft is simply an amazing agent. When my business got burglarized, I was so upset and didn't know what to do. I contacted Mike and he was very prompt in calling me back and he put my mind at ease. He made me feel so much better and handled all of the paperwork immediately. His customer service is top notch and I highly recommend him to be your insurance agent!