A record number of used car dealers forego purchasing car dealer insurance, especially during times of economic instability because they believe it is unnecessary or too expensive. But neither of these beliefs are true.
There are also various myths centered around this type of coverage. Some of the common misconceptions about car dealer insurance are:
Myth #1: Car dealer insurance is expensive
Fact: YOUR CAR DEALER BOND LLC (YCDB) works diligently to find the perfect balance between your appropriate coverage and individual affordability.
Myth #2: My personal auto insurance policy will cover vehicles purchased for my business
Fact: This is an inaccurate and potentially costly assumption. Personal auto insurance does not extend coverage to vehicles purchased under a business license. Personal auto insurance policies have an exclusion section disallowing business purpose claims.
Myth #3: Car dealer insurance won’t cover much
Fact: YCDB has several basic and obscure product offerings to ensure your business is protected, such as:
- Used Car Dealership Insurance
- Open Lot Coverage
- Dealer Physical Damage Coverage
- Garage-keepers Insurance
- Dealer Plate Insurance
- Medical Payment
- Scheduled Vehicle
- Damage to Rented Premises
- Broad Form Products
- False Pretense Coverage
Auto Dealer Insurance Video
Watch this short video containing important information on auto dealer insurance and the companies that provide this form of insurance.
Learn how reasonable car dealer insurance can be!
Use the link below to apply for car dealer insurance in a matter of minutes. You’ll be surprised at how little it costs to gain so much peace of mind.
We also offer personalized Automotive Consulting Services!
Our 1-on-1 automotive consulting services are designed to help wholesale and retail dealers develop a solid business model and create a profitable and strategic marketing plan.
