Serving California, Arizona and Nevada Car Dealers   CALL US: 888-DLR-INS4 (357-4674)    Join us on Google+  Join us on Facebook  Watch Us on Youtube

 
   

News Archive

MOTOR DEALER SERVICES NEWSLETTER

Garage Keeper's - I don't have a repair shop
I hope he has the right coverage and a sharp agent

The term "garage keepers" almost sounds like repair shop insurance. It's not. GKLL or "Garage Keepers Legal Liability" coverage is an option that covers a risk that almost all used car dealers are exposed to. GKLL covers vehicles in your care, custody and control that you don't own. It covers cars that you are driving to establish trade in value and vehicles that you are driving to determine if a customer's complaint about a sold vehicle is valid. Last it covers vehicles on consignment to you. Almost all car dealers drive cars before they buy them. Almost all dealers have customer complaints about vehicles from time to time. Some dealers take cars on consignment. This is a important, inexpensive, coverage that almost all dealers need.

Other than passenger car coverage

Do you sell vehicles other than passenger cars and light duty trucks? Do you occasionally take them in trade? RVs, streetbikes, trailers, medium duty and big trucks... Can these be included in your dealer insurance policy? Not all insurance companies will cover them. We have carriers that covers all of these. You can put all of them on your dealer policy with Motor Dealer Services.

Comprehensive vs. Specified Perils

For dealers that want the most complete policy possible, with the least exposure possible, Comprehensive is the only way to go. I have seen quotes that list "comprehensive" on the proposal and then give a list of covered perils. Comprehensive is an "all risk" / "open perils" policy. It covers everything that is not on the exclusions list. Specified perils policies cover only the perils specified in the list. Typically the perils specified are: theft, wind, hail, aircraft, riot, vandalism, explosion and smoke. Here are some examples of things not covered by a specified perils policy. Tree limb falling on a vehicle, building collapse, sink hole, flood, etc. If you are looking for the most complete policy possible don't be mislead.

Is there information here that your agent didn't tell you?

Did it cost you money?

We hope not.

Written by:
Dave Hoffman - Broker / Owner
Lic. CA 0D87197 AZ 906944 NV 1100441

Newsletter Archive


Used. Car. Insurance. Used car dealer insurance. Car dealer insurance. Dealer Insurance. Auto Dealer Insurance. Used automobile dealer insurance. Automobile dealer insurance. Auto dealer bond. Used car dealer bond. Wholesale dealer bond. Dealer plate insurance. DMV bond. DMV bond quote. Mvd bond quote. Plate insurance. Used car dealer bond. Dave Hoffman. Garage keepers insurance. Garage keeper's insurance. Used car wholesaler insurance. Car wholesaler insurance. Wholesaler insurance. Garage liability insurance. Open lot coverage. Garage keepers legal liability. Garage keeper's legal liability. Truth in lending errors and omissions. Odometer errors and omissions. Title errors and omissions. GKLL. Home About Us Important Bonds QUOTE Why Us Repair Forms and Applications Videos Newsletter Links Links Page 2 Contact Us West Coast Dealer Magazine Ad
Valid CSS!