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.
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.
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.
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Dave Hoffman - Broker / Owner