Businesses that sell cars have special challenges. Unless they are adequately insured, they can face the kind of lawsuits that close business doors and put the owners in financial jeopardy. The right auto dealership insurance NJ agents offer will keep you in business and reduce your business and personal liability.
Good coverage is necessary to minimize your exposure to risk and protect you personally. Your showroom, inventory, and service department are all huge investments that need protection. You also have to think about protections for your staff and the ways you can limit your liability if faced with employee misconduct. Test driving cars is accepted practice for potential purchasers. You must have coverage that protects the customer as well as the vehicle while it's on the road.
Not all car lots have the same set of challenges. It's important to discuss the kind of operation you run with your agent to set up the particular coverage that is right for you. It's especially important for dealers who sell used cars to have title errors and omissions coverage for instance. Insurers can meet with you at your business and assess any safety risks they find on your lot to avoid unnecessary claims.
Hackers are always finding new ways to compromise the information businesses gather about their customers. This problem has exploded in the last few years and shows no signs of slowing down. It's imperative that your customers feel comfortable giving you their personal credit and financial information. In the unfortunate event that your business is targeted by hackers, you must have coverage to pay for any remedy it takes to rectify the situation.
If you have employees, you need to protect yourself in case they accuse you or your company of wrongdoing. This kind of coverage is known as employee practices liability. An employee can claim discrimination or harassment even though you haven't done anything. A disgruntled employee might sue you because you fired him or her for cause. With EPLI, you will be protected.
Employee errors and omissions coverage is important to have in case one of your sales people makes an error when filling out lease or sale contracts. You will be vulnerable to being sued if an employee gives incorrect mileage or accident history on a vehicle to a customer. You also need E&O protection if you plan to offer automobile insurance to the buyers of your cars.
Business income coverage will protect in case your lot and inventory are damaged due to circumstances beyond your control. You never know when a weather event will hit your area and send trees and debris flying. Hurricanes and tornadoes have put owners without adequate insurance out of business, both temporarily and permanently.
Good sales people are usually looking for benefits beyond their commissions. In order to attract the best employees, you need to be able to offer them 401-K plans and life insurance benefits. Your agent can help with that and explain how to bundle the various policies into one comprehensive package that is both affordable and effective.
Good coverage is necessary to minimize your exposure to risk and protect you personally. Your showroom, inventory, and service department are all huge investments that need protection. You also have to think about protections for your staff and the ways you can limit your liability if faced with employee misconduct. Test driving cars is accepted practice for potential purchasers. You must have coverage that protects the customer as well as the vehicle while it's on the road.
Not all car lots have the same set of challenges. It's important to discuss the kind of operation you run with your agent to set up the particular coverage that is right for you. It's especially important for dealers who sell used cars to have title errors and omissions coverage for instance. Insurers can meet with you at your business and assess any safety risks they find on your lot to avoid unnecessary claims.
Hackers are always finding new ways to compromise the information businesses gather about their customers. This problem has exploded in the last few years and shows no signs of slowing down. It's imperative that your customers feel comfortable giving you their personal credit and financial information. In the unfortunate event that your business is targeted by hackers, you must have coverage to pay for any remedy it takes to rectify the situation.
If you have employees, you need to protect yourself in case they accuse you or your company of wrongdoing. This kind of coverage is known as employee practices liability. An employee can claim discrimination or harassment even though you haven't done anything. A disgruntled employee might sue you because you fired him or her for cause. With EPLI, you will be protected.
Employee errors and omissions coverage is important to have in case one of your sales people makes an error when filling out lease or sale contracts. You will be vulnerable to being sued if an employee gives incorrect mileage or accident history on a vehicle to a customer. You also need E&O protection if you plan to offer automobile insurance to the buyers of your cars.
Business income coverage will protect in case your lot and inventory are damaged due to circumstances beyond your control. You never know when a weather event will hit your area and send trees and debris flying. Hurricanes and tornadoes have put owners without adequate insurance out of business, both temporarily and permanently.
Good sales people are usually looking for benefits beyond their commissions. In order to attract the best employees, you need to be able to offer them 401-K plans and life insurance benefits. Your agent can help with that and explain how to bundle the various policies into one comprehensive package that is both affordable and effective.
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Find details about the benefits of comparing auto dealership insurance NJ quotes online and more info about a reliable insurance company at http://www.tasinsuranceagency.com/dealership-insurance today.
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