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.
Different lots have different issues. You should discuss your particular business with your agent so that a protection package can be customized for you. Used car dealers, for instance, must carry title errors and omissions insurance. Agents will come to your lot and go over it to assess any risks and suggest changes to prevent 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.
Any business with employees has to protect itself in the event one of the staff accuses the company or an individual working for it of discrimination or harassment. You don't have to be in the wrong to be accused. Employee practices liability coverage will protect you in these situations and in the case of an ex-employee who decides to sue you for firing him unfairly.
You certainly need errors and omissions coverage to protect you in the event that an employee makes a mistake on the paperwork of a car sale or lease. If an error is made regarding mileage on a used vehicle or accident history, you don't want to be vulnerable to a lawsuit by an angry customer. For dealers who offer auto insurance to their customers, errors and omissions coverage is a must.
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.
Different lots have different issues. You should discuss your particular business with your agent so that a protection package can be customized for you. Used car dealers, for instance, must carry title errors and omissions insurance. Agents will come to your lot and go over it to assess any risks and suggest changes to prevent 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.
Any business with employees has to protect itself in the event one of the staff accuses the company or an individual working for it of discrimination or harassment. You don't have to be in the wrong to be accused. Employee practices liability coverage will protect you in these situations and in the case of an ex-employee who decides to sue you for firing him unfairly.
You certainly need errors and omissions coverage to protect you in the event that an employee makes a mistake on the paperwork of a car sale or lease. If an error is made regarding mileage on a used vehicle or accident history, you don't want to be vulnerable to a lawsuit by an angry customer. For dealers who offer auto insurance to their customers, errors and omissions coverage is a must.
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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