Insurance for Dealerships
The Coverage Your Dealership Needs
Dealerships have unique risks, so they need the right insurance coverage to manage these risks. At RiskPoint, we help dealerships around the nation analyze their exposures and obtain insurance solutions that are both competitive and comprehensive. Our insurance solutions are designed to meet the needs of a wide range of dealerships.
You care about your dealership’s bottom line. So do we. You don’t want to overpay for insurance coverage you don’t need, but you also don’t want to let insurance gaps jeopardize your business. It’s a fine line. At RiskPoint, we’ll review your exposures and policies to see where you might be paying too much and where you might need more protection.
Types of Coverage
Dealerships need custom policy packages that cover their various exposures. Common policy types for dealerships include the following:
Events that cause property damage can also cause business interruption. The associated loss of business income can make recovery even more challenging for your dealership, but business interruption insurance can provide the coverage you need.
A lot of things can go wrong when you’re operating a dealership. A commercial general liability policy provides protection against bodily injury and property damage liability, as well as advertising injury.
Auto Errors and Omissions
When you sell vehicles, you take on risks. Mistakes and oversights in contracts and vehicle history reports can lead to claims of negligence. Protect your dealership with errors and omissions coverage.
Employment Practices Liability
Taking on employees means taking on employment practices liability exposures. An employee might claim harassment, discrimination or retaliation. Hiring and firing decision can also lead to legal challenges, and so can wage and hour issues.
Settlement amounts and jury awards have been on the rise. You don’t want to be hit with a lawsuit worth more than your insurance limits. Umbrella insurance provides an extra layer of protection to shield your dealership from expensive lawsuits.
If a worker is injured on the job, your dealership could be responsible for medical costs and lost wages. State law makes workers’ compensation coverage mandatory for most employers.
If your dealership maintains a computer database with customer information or uses computers to connect to the internet – and what dealerships don’t these days? – then you have cyber exposures. A data breach or ransomware attack could expose your customer’s private information, shut down your systems, and damage your company’s reputation. Cyber liability coverage can help you take control of your cyber risks.
A commercial auto liability policy provides essential coverage for dealerships. Coverage can include liability insurance, as well as property damage coverage and uninsured and underinsured motorist coverage.
Our Dealership Team
Executive Account Manager
Associate Account Manager
Director of Employee Benefits