Auto Dealer Insurance in Eastern Ontario
You work in a fast paced industry, you must be focused on growing your business and not worrying if you have the proper insurance product in place to protect you from the risks you have as an auto dealer in Ontario. Upper Canada Commercial Insurance Group Inc. has access to Canada's top insurance companies and is positive we can find an insurance solution that best fits your Dealership.
Auto dealers in Eastern Ontario provide many kinds of services to their customers. Some dealers also service the products they sell and need a specialized insurance product. Getting the best coverage to fit your dealership requires some knowledge of business risk management and experience in the industry. That is why you should trust your insurance needs to a company with expertise and experience in protecting dealerships. In fact, if not for savvy insurance professionals, some businesses could be in dire straits. Let's take the example of Jason T.
Jason started in the automotive industry as a car salesman and worked his way up to become manager of a dealership. However, he decided to go out on his own and started a local used car dealership, and his business was popular because of efficient and helpful service. Jason was a good business man because he knew about the power of minds working in tandem. He chose his business associates carefully and this included his insurance person.
During an annual insurance review, Jason's insurance specialist recommended raising liability coverage on his auto garage insurance policy. Although he considered not increasing this coverage, Jason knew this man was a professional with years of experience and never doubted his advice. He decided to raise his liability coverage to the recommended amount.
Three months after the review, one of his mechanics accidentally left the oil cap off an engine after changing the oil. The owner didn't notice and the car caught fire on the highway, causing a major accident with several serious injuries. Had Jason not increased his liability coverage, he probably would have lost his business.
What is Auto Dealer Insurance?
Dealerships are a very unique and complicated business with many moving parts and revenue streams.
This coverage is a specialized insurance solution that covers all aspects of your business. It is a tailor made insurance product that identifies, assesses, and protects against any potential risk to your business whether it is physical or financial.
Who Needs Car Dealer Insurance?
- New car dealers
- Used car dealers
- Power Sports Dealers
- Farm Equipment Dealers
- Boat Dealers
- Heavy Equipment Dealers
Basic Car Dealer Insurance Coverage
A basic policy will give you basic protection but this may not be everything that you need. Here is what a basic policy might look like:
- Commercial building insurance - covers physical hazards that may damage your property.
- Building contents coverage - this will cover your building contents, you will need specialized insurance for your equipment or tools.
- General business liability coverage
- Garage Policy - A commercial auto policy designed to address the needs of auto dealers this covers customer's cars while in your care and custody.
- Owned Auto - Protects your new and used inventory and any vehicles registered in the dealerships name.
- Commercial General Liability- An insurance policy issued to business' to protect them against liability claims for bodily injury and property damage arising out of premises, operations, products, and completed operations.
Auto Dealer Insurance Options
You could have several important options to consider, for example:
- Special hazards - These are hazards that can be covered, but are not covered under your basic insurance product. Hazards such as earthquakes, flood, hail and sewer back up are all risks that can be addressed.
- Deductibles - Can be adjusted to a level your business feels comfortable with, and can affect the annual premium
- Umbrella insurance - A policy designed to provide protection against catastrophic losses. It fills in any gaps in coverage and is generally written over primary liability policies, such as the business auto policy
- Business Interruption - insurance covering loss of income suffered by a business when damage to its premises by a covered loss causes a slowdown or suspension of operations.
- Pollution Liability - Provides clean up expense, when a pollution incident arises from the operation of your business.
Two Reasons to Get Started Right Away
- Don't leave your business unprotected any longer than you need to, make sure you are covered if a disaster strikes.
- Just fill out the form and we will get back to you within a day with a policy that works for you.
Getting The Best Car Dealer Insurance in Eastern Ontario
When you need to purchase a vehicle you go to a recognized and licensed dealer because you know you will get the best deal and the best product to fit your needs. An experienced and trained insurance expert can find you the best coverage options at the lowest rates. This is especially true when you choose to do business with a company like Upper Canada Commercial Insurance.
We do not represent just one insurance company. We are an insurance brokerage that does business with many top insurers. After you contact one of our specialists to discuss your insurance needs, your job is basically done. Your insurance specialist crunches all the numbers and compares policies and premiums from several top providers. This ensures that you get exactly what you need for the best price.
With three convenient locations to serve our customers and 40 insurance specialists, we have what it takes to fill all of your commercial insurance needs.