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Insurance for Dealerships

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Spotlight on: Dealership Insurance

Do you know what insurance your dealership needs? Do you know how to protect your business from the liabilities associated with selling, renting and servicing vehicles or heavy equipment?

Dealerships face unique risks, and our insurance services are tailored to protect businesses in the industry from a variety of liabilities and events like accidents, theft, property damage and legal claims.

Whether your business is involved in the rental of heavy equipment and trucks, the sale of powersports vehicles or the servicing of RVs, having the right insurance coverage isn’t just beneficial — it’s critical. It can help shield your financial investments, promote compliance with industry regulations and facilitate smoother business operations by providing greater peace of mind. With the right insurance in place, you can focus on growing your dealership while knowing that you’re prepared for a variety of contingencies.

Our approach to dealership insurance is not one-size-fits-all. We understand that each dealership has its own set of needs and challenges. From showroom to service bay, we work closely with you to identify the specific risks your business faces and develop a customized insurance plan that aligns with your unique requirements.

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Why Higginbotham?

Because we’re more than dealership insurance professionals.

Our team provides assistance to a variety of dealerships in securing insurance, handling claims and managing perils through personalized insurance, risk management and F&I solutions.

With Higginbotham in your passenger seat, you can focus on your business operations and let us help protect it.

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Key Coverages for Dealerships

General and Umbrella Liability

General and umbrella liability insurance add two more essential layers of protection to your dealership’s insurance portfolio. Commercial general liability insurance encompasses a broad range of coverage, helping to address financial losses from claims involving incidents like bodily injury, property damage or libel. Umbrella or excess liability insurance extends further security by stepping in to help cover losses that surpass the limits of your other policies.

Workers’ Compensation

Workers’ compensation is an indispensable coverage for any business, including those specializing in vehicle sales and rentals. It helps offset expenses arising from employee injuries at the workplace, such as medical bills and compensation for lost wages. By incorporating workers’ compensation into your dealership’s insurance portfolio, you help to protect not only the well-being of your employees, but also the legal and financial future of your business.

Garagekeepers Liability

Garagekeepers liability coverage forms an essential component of an insurance program for dealerships, offering protection for a variety of vehicles in the dealer’s care. This coverage is particularly important when a customer entrusts their vehicle to your dealership, whether for maintenance or while exploring rental options. In such instances, garagekeepers liability insurance plays a crucial role in safeguarding your dealership against potential damages to customer vehicles while they are on your premises.

Commercial Property Insurance

Commercial property insurance assists in cushioning your dealership from unforeseen incidents like fires, storms or theft. With this coverage in place, you can concentrate on managing your dealership and providing excellent service to your customers, with less worry about the impact of unexpected events.

Dealers Open Lot

Dealers open lot coverage offers protection against physical damage to vehicles on your premises, whether they’re slated for sale or rental. This insurance helps shield your inventory from various risks, such as weather-related damage, vandalism and theft. Securing your dealership’s assets with open lot coverage can help preserve your inventory’s value and contribute to the ongoing prosperity of your enterprise.

Errors and Omissions (E&O)

Errors and omissions (E&O) insurance is a form of coverage that addresses the risks associated with inadvertent mistakes or omissions in professional services. In the intricate realm of vehicle sales and rentals, even the smallest error or oversight can lead to significant financial claims from clients. E&O insurance provides a layer of protection, helping to cover legal fees and settlements that may arise from these claims.

Cyber Liability

In the digital era, the relevance of cyber liability insurance for dealerships, including those in the RV, auto, trucking and powersports sectors, is increasingly prominent. This form of insurance is designed to help mitigate financial losses stemming from cyberattacks and data breaches. It plays a crucial role in safeguarding sensitive data from the escalating risks associated with cybercrime.

Business Interruption

Business interruption coverage is designed to offset lost income during times when your dealership is unable to operate because of a covered incident. This coverage provides a level of reassurance that, should an unforeseen event occur, your business can concentrate on recovery and restoring operations promptly.

Employment Practices Liability

Employment practices liability insurance, provides protection against claims of wrongful termination, discrimination and harassment. In our increasingly litigious society, this form of coverage is important in mitigating the financial impact of legal disputes. Additionally, it supports the creation and maintenance of a safe and equitable working environment for your dealership’s employees.

Directors and Officers (D&O)

Directors and officers (D&O) insurance is designed to help safeguard the personal assets of your dealership’s leadership team against claims resulting from their managerial decisions. In today’s business climate, directors and officers can be personally sued for a range of issues, including financial performance, operational oversights and regulatory compliance. D&O insurance not only protects these individuals but also bolsters the financial stability of the dealership by providing a safety net against costly legal battles and settlements.

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Work with a dealership insurance broker who cares.

A great plan starts with a conversation. Let’s talk about what your dealership needs.

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