Vehicle Dealer Insurance
Insurance for Car Dealers and Commercial vehicle Dealerships.
Vehicle Dealer Insurance
Wide insurance protection is required for Dealers and Dealerships whether an independent car dealer or part of a franchise main dealer network. Vehicle dealer insurance provides cover for property and liability as well as many extensions that bring together a bespoke range of insurance protection.
Providing a full range of vehicles services needs a wide range of insurance protections, whilst many policies are similar, what makes the difference is the broker you are dealing with and the manner in which the covers and protections are delivered. Vehicle Dealer insurance is not just about how cheap the premium can be but about the quality of the insurance program that is created.
Whether your dealership sells fast moving budget cars or the higher prestige end of the market, a car supermarket, or whether you are part of a franchise dealer network insurance is essential. As a franchise dealer for instance you provide a multitude of services to your customers, and it’s not just about selling the vehicles themselves, it’s about the after sales services provided, the servicing and repairs, the parts department, all of which can have cover requirements that the other parts of the business don’t, its these parts that need to be brought together to provide all round insurance protections for the business.
What is Vehicle Dealer Insurance?
Bespoke insurance designed around car and commercial vehicle dealership requirements, whether you are an independent operation or part of a national franchise dealer network providing a full range of services you need your insurance designing around your activities.
Why work with Real Insurance Group for your vehicle dealer insurance requirements?
First and foremost we are motor trade insurance specialists, we work with many clients throughout the UK, businesses just like yours, ensuring you have the correct insurance products in place, whether your business deals with new or used vehicles.
We work with businesses that don’t treat insurance as a commodity, we don’t subscribe to pile it high sell it cheap and our clients understand this, premium is important but insurance covers and protections are paramount.
Speak to us about how we can work with you to provide the insurance program you need for your dealership. Don’t wait until the last minute, your relationship with us starts well before your renewal date, we establish which insurer is going to be best for your individual needs and work with that insurer to bring you the best terms and cover.
Talk to a member of our specialist insurance broking team today
What type of protections are included in a Franchised Vehicle Dealer Insurance policy
The basis of your insurance is fundamentally the same, irrespective of the type or size of motor trade business you are.
Undoubtedly working from business premises there are a lot of covers to be included, if the premises are owned by the business then buildings insurance is going to be required whether mortgaged or not to protect against the costs of damage from Fire, Storm or increasingly Floods. We take the buildings and its sum insured seriously as a high proportion of buildings are underinsured; resulting in a potential shortfall should the building have a loss.
Contents insurance encompasses a wide range of areas within the business, from the reception area, to showroom furniture such as desks, chairs and all the electronic equipment that is present, all these need adequate insurance cover.
A vehicle dealer insurance policy will also cover both own vehicles and customers vehicles at the premises whether inside or out. This can be in the 100’s of thousands of pounds so having robust quality insurance in place is essential.
Parts departments can have a huge racking area that needs insurance cover as well as the stock of new parts and consumables, the service and repair area will have its plant, equipment and not only company owned tools and diagnostic equipment but employees tools too. Special Tools can be an issue, what is the value; some might be obsolete, what happens then?
Dealing with Real Insurance for your Vehicle dealer insurance means that we go through all these areas to establish the correct covers and sums insured, even the signage located outside needs to be insured.
Having a loss can be devastating to any business, business interruption insurance is there to keep your business in business should the worst happen. Ensuring that the amount of cover adequately reflects the potential losses is also of great importance as is the length of time the insurer will continue to pay for loss of profits should a loss occur at the premises.
Liability Insurance for Vehicle Dealers and those in a Franchised dealer network
In an increasing litigious world Liability Insurance will protect your business against allegations of a loss, damage to property or injury to either a member of the public or an employee. It provides protection against the legal defence costs as well as any compensatory payments the business might have to pay.
A typical example of Public Liability is where customer has come into your showroom, they have slipped on a wet floor that should have been cordoned off. Working on vehicles, issues can arise after the repair has been carried out, having quality Defective Workmanship Insurance in place should the repair that has been done causes damage to the vehicle or a member of the public, incorrectly fitted parts is a typical example.
Your business has employees, that’s your sales people, management, parts department and service are all employed, if an injury or loss occurs that involves an employee it’s a legal requirement that the business has Employers Liability insurance, this provides compensatory payments as well as legal cost should an injury arise.
Insurance for driving business vehicles as well as customers
Commonly referred to Road Risks Insurance it provides comprehensive cover for employees in the business to drive company owned vehicles as well as those of your customer. It’s essential that you can demonstrate sales vehicle to your customers by accompanying them on test drives, sometimes it’s important to let your customer take a vehicle unaccompanied, insurance is available for these eventualities.
Customer service is an essential part of your dealership, you relay on repeat business by keeping your customers happy, having a loan car available for them to use is easily incorporated and at low cost whilst their vehicle is being serviced or repaired.
Other protections available on a car, or commercial vehicle dealership insurance policy
Of course there are many insurance protections available to vehicle dealers insurance policy whether an independent dealer or part of a franchise dealer network.
Money Insurance – whilst most transactions are made by card or transfers but some people still like to use cash, this is where money needs to be protected on the premises.
Transit Insurance – moving vehicles about on a transporter means it could need insurance, some policies give automatic cover some don’t, let us get the right insurance cover in place to protect your vehicles.
Inspection of machinery – usually referred to as engineering inspection, this is a service that keeps you on the right side of HSE by inspections of lifted and pressure plant as well as ventilation and extraction plant – we arrange this service to run alongside your main insurance covers.
Fraud or Trick – with fraud a major hit to your profits, this type of insurance cover can be a standard inclusion in some policies and is essential to dealers selling vehicles.
Cyber Insurance – cybercrime is still one of the fastest growing and sometime referred to as an illicit businesses. The cover on a cyber insurance policy can be tailored to a car dealer’s needs and requirements.
Directors & Officers Liability Insurance – A director or senior member of the management team can be held responsible for all different types of wrongful act. Its better known as a Management Risks Policy, it protects Directors, Senior Managers as well as the Company itself against allegations of a wrongful act, it provides not only legal defence costs but any compensation payable. Employment cover can also be added to these types of policies.
Why Deal with Real Insurance Group for your Motor Dealer Insurance?
We are motor trade insurance specialists, we are not a call centre and we bespoke your insurance to your specific needs. We only deal with specialist insurers that are experienced in not only the motor trade but with Car and Commercial Vehicle dealers.
Speak to us today on how we can provide a thorough review on your insurance requirements.