All car owners understand the importance, not to mention legality, of having proper car insurance. So when you go looking for your new car, you’ll want to make sure to factor in the cost of coverage before you make your final purchase. But what happens if you get into an accident before you make sure your final purchase? That’s right. What if you don’t even make it off the lot before an accident occurs? What if you’re not insured yet? Who will cover those damages? Hopefully used car dealer insurance will cover it.
Insurance for Used Car Dealerships
Any number of accidents can occur on used car dealership lots, especially given the high volume of both cars and people that they deal with. There are also employees to consider, who often move cars around in crowded parking lots with people milling about. This is why used car dealer insurance is so important. There are many different types of policies to choose from, but some of the basic policies are below.
Damage to third party property
Lost business income
Depending on the type of used car dealership it is, business owners may also want to consider supplemental policies, such as:
Errors and omissions for car dealers
Broad form products