
Used car dealerships can be lucrative businesses that remain fairly reliable over time: after all, there’s always a need for used cars. But the constant stream of vehicles coming and going, along with particularities of your particular dealership, will inevitably produce some used car dealer risks that should be property managed — and insured — to protect the safety and fiscal well-being of your dealership, and your clients.
What Risks Do Used Car Dealers Face?
Used car dealers face a number of overlapping risks that invariably shift depending on the specific nature of the dealership. Risks include the following, and more:
- Risk of automobile accidents on the premises, or during test drives, particularly due to the high volume of cars coming and going
- Risk of injury to workers or clients, due to high traffic or other factors
- Risk of theft
- Risk of property damage, which may be compounded if your dealership also offers vehicle repairs
- Liability risks arising from the sale, storage, or repair of used vehicles
An experienced insurer can help design a policy that takes your situation into account, and offers coverage commensurate with the unique risks of your business. A comprehensive policy will help ensure safety on the lot, and that you are financially protected if an unexpected incident does occur.