If you are a used car dealership, of course you need insurance.

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Like any business, insurance is an essential part of protecting your company from accidents or mishaps that can occur on any given day.

A typical business owners’ policy can include the following bundled BOP plan:

• Property Insurance
  
  
• Product Liability Insurance
  
  
• Professional Liability Insurance
  
  
• Commercial Auto Insurance
  
  
• Business Trip Insurance
  
  
• Workers Comp Insurance
  
  
• Casualty Insurance
  
  
• Business Interruption Insurance

Unlike the average business person, there are specific risks that call for further specialized coverage for the used car dealer. Used car dealerships are an especially hard to place business class due to several problematic exposures.

These include:

• Because of used car value fluctuations there exists a problem in determining correct valuation
  
  
• There are completed products considerations regarding instances where the dealer offers repair and maintenance servicing
  
  
• Theft, hail and vandalism are particular worrisome risks in many scenarios where the used cars are kept in open lots
  
  

In addition to the above, used car dealerships that offer their own financing options face further insurance coverage requirements.

For more on commercial insurance that addresses the unique needs of the used car dealer, speak to an experienced, independent agency.

PRIME Insurance is a three-generation family-run independent agency. We’re proud partners with many of the leading companies in the industry – big names such as ACE, AmTrust, ASI, ASSURANT, CHUBB, CNA, Employers, FOREMOST, Liberty Mutual, MetLife, PROGRESSIVE, Safeco, StillWater, Travelers, USLI, ZURICH and more. This gives us the ability to provide all forms of nationwide coverage at competitively lowest quotes. Visit us on our online insurance website or email us at PRIME [at] primeins [dot] com or call us at 732-886-5751 and HAVE A PRIME DAY™!

Summary: Used car dealerships need an enhanced business owners policy that focuses on the unique exposures of the industry.