I need dealer license plate insurance. Does any one know th

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PostPosted: Tue Nov 25, 2008 4:48 pm   Post subject: I need dealer license plate insurance. Does any one know th  

I'm a whole sale dealer, I buy cars and ship them overseas to sale. I need a dealer tag, in order to get one it must be insured. I'm in New Castle, DE. Do you know the cheapest insurance company that could insure me and how much should I expect to pay.

francisndaguba
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PostPosted: Fri Nov 28, 2008 9:02 am   Post subject:   

You may check with the National Automobile Dealers Association. It may suggest you a carrier that would cover you. Also you may check with the state department of insurance to find all insurance carriers in your locality. Also you may check with an independent agent for the same.


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PostPosted: Fri Nov 28, 2008 9:21 am   Post subject:   

Yeah, to operate legally the dealer is required to carry dealer insurance. The car dealer's insurance comprises of the following coverage



Location coverage- the location coverage protects the dealership location.



Inventory coverage: this coverage will cover all the cars available with the dealer.



Vehicle use coverage- this covers perils related to the use of the cars with the dealer. This is also known as the garage keeper liability insurance.



The cost of the coverage may vary with the location of the dealership and also with the use of the cars. However, the average dealer insurance may cost around $3k to$5k depending upon the size of the business, location and carrier.


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Morris Newman
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PostPosted: Fri Nov 28, 2008 9:41 am   Post subject:   

In addition to the car dealers insurance, the dealer, like any other business, is also required to protect against perils that might interrupt his business operation, such as: business liability insurance, workman's compensation, error and omission, business interruption and so forth.


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